£21m Saved with HI-Scot Credit Union

Tuesday 23 January 2024

Thousands of people across the Highlands and Islands of Scotland are being helped by the HI-Scot Credit union based in James Street, Stornoway.  Since 2006, HI-Scot Credit Union members have saved over £21 million and borrowed in excess of £11 million.

From small beginnings in 2006, HI-Scot Credit Union has grown from the Western Isles to cover the whole of the Highlands, Orkney and Shetland. Now, with almost 4000 members across the Highlands and Islands and growing year on year, HI-Scot aims to continue to serve its members and secure a place in the heart of the community where its members live and work.

CEO of HI-Scot, David Mackay said: “At HI-Scot we are committed to growing a strong financial community, member by member. When a member joins HI-Scot, they become an integral part of the credit union.

“A successful credit union has a positive impact on local communities by offering a credible alternative to High Street banking with members at its heart.

Although the Covid-19 pandemic had an impact, as it has across the country, HI-Scot reported positive trends in savings at its AGM earlier in the year.

David added: “HI-Scot staff were able to continue offering quality service to our members throughout the year, adapting quickly to government guidance. The team ensured members had access to their money at all times and new services, such as phone loans, were introduced.”