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Councillors welcome launch new Hi-Scot Credit Union (03/12/10)
Highland Councillors have welcomed the creation of the Hi-Scot Credit Union, which extends the work of the successful Western Isles Credit Union into the Highlands and Orkney. The Credit Union is working closely with The Highland Council, Comhairle nan Eilean Siar and the Orkney Community Planning Partnership to ensure that this valuable service is widely taken up.
Mr David Mackay, Manager, set out the aims of Hi-Scot in a presentation to The Highland Council’s Resources Committee.
He described the benefits for joining for individuals and potential impacts on the Highlands.
For Credit Union members it offers:
- mutual and ethical savings;
- a wide range of savings’ accounts that allow savings of as little or as much as members can afford;
- affordable loans, offering loan products suited to members’ individual needs at rates that are easily affordable;
- co-operative ownership, ensuring credit union members are in control of their own finances and have a say in how their financial service provider is run.
He said “Credit unions put their members first by listening to their needs and developing the products and services that they want. It means that Highland and Islands’ money is circulating within the region with any profits being shared with members who must live or work within the area.”
Councillor Carolyn Wilson, Chairman of the Resources Committee, said: “I warmly welcome the availability of Credit Union on a pan Highland basis and look forward to the benefits that it will bring to the Highland population
Ian Morrison, Chair of Hi-Scot Credit Union, said: “We are delighted to be able to extend our coverage to the Highlands and Islands of Scotland. This enables us to build on the successful growth of the Credit Union in the Western Isles.”