30 years of credit unions in Bolton

On July 19 1990, Johnson Fold Credit Union opened its doors to members, encouraging local residents to build up a shared savings pot and then use those savings as security for borrowing at affordable rates. The idea worked and soon the credit union expanded and encouraged other areas of Bolton to set up credit unions in their local communities.

Over the years the local credit unions amalgamated and 30 years later operates as Hoot Credit Union serving members across Bolton, Bury and parts of Salford as well as select employer partners. Now with over 6,000 members holding almost £2 million in savings, Hoot is driving forward by expanding products and services aimed at improving the well-being of  its members.

Some of those original pioneers who had the vision to set up the first credit union are still members of Hoot and continue to promote the idea of people co-operating and pooling savings to provide ethical financial services to the community.

“Everyone at the Credit Union is proud of the difference we have made to our members and the communities we serve,” says CEO of Hoot Credit Union, David Batten. “I’d like to thank and acknowledge those who have been with us on this journey and I am excited about what the future holds for the credit union..”

Plans for  the anniversary celebration have been significantly altered because of the pandemic and Hoot will still mark the occasion in July with online activities and social media.