Record lending month for Hoot
07 Jul 16
Hoot Credit Union is celebrating lending £105,000 last month – the most in the credit union’s history.
The Bolton-based credit union has been operating for 11 years, and the level of new loans made in June set a new single month record for the credit union.
The increased demand for loans – ranging from £200 to £10,000 – in June is as a result of the credit union promoting its services to a broader section of the community with the message that everyone wants access to fair and affordable loans.
Hoot Credit Union Chief Executive David Batten said: “June was a fantastic month and shows that Hoot Credit Union is going from strength to strength. Only through the interest we earn on the loans we issue can we ensure the success of the credit union, and to see such a high level of activity in June was very encouraging indeed.
“A healthy loan book allows us to provide savings and other accounts and services to everyone who lives or works in Bolton and Bury, and provides the means to help people manage their money better by offering support and affordable alternatives to high cost lenders and unregulated loan sharks.”
Launched in 2005 as Quids In, Hoot Credit Union serves anyone who lives or works in Bolton, Bury, and adjoining parts of Salford, Wigan, and Blackburn. The credit union has a very strong relationship with community and local government organisations and collaborates on a number of projects aimed at promoting fair finance and money management skills in the area.