It’s obvious that saving for yourself is always beneficial to you. But did you know that when you save with your local credit union, you help your community financially too? Your savings can help someone else in your community access affordable credit, start saving for the first time, and generally improve the financial well-being of the community. You also have full access to your money, any time, but wouldn’t it feel good to know that whilst your own savings are growing, they are helping others at the same time.
Sustainable Solution
In a world where financial inequality becomes the norm, credit unions like Hoot offer a sustainable solution. Savers play a crucial role in this process. All Hoot savings are pooled to offer affordable lending to others, therefore supporting one another and helping to build resilience against economic challenges. Your savings not only protect your own future but also provide a lifeline for those who are less fortunate.
Hoot’s mission is to improve the financial well-being of the community. It does this by promoting good savings habits, and also by providing safe, legal and affordable credit to people who otherwise cannot access borrowing easily or cheaply.
More Inclusive Financial System
It’s a refreshing alternative to predatory and high-cost lenders, where profits often take precedence over people. With Hoot, every pound you save contributes to a fairer, more inclusive financial system. We estimate that for every £1 you save, you are helping someone else in your community to save up to £5.39 in loan interest by avoiding high-cost and predatory lenders. So having £1,000 in your savings account will result in community savings on loan interest of £5,400 in just one year! That saving stays in the local economy, so another way your savings supports your community.
With Hoot it is quick and easy to start savings. Whether you are saving for something special, or building a nest egg for the future, by saving a little each month you are building up your own nest egg and helping others build up theirs.
If you live or work in Bolton or Bury you can start saving today. Just decide how much you want to save and go to www.wisewithmoney.org.uk to set up your savings account.
- Save up to £30,000
- Access your savings at any time
- Savings are protected by the Financial Services Compensation Scheme
- Savings do not earn interest, but may earn a dividend subject to credit union performance
Remember, every great financial journey begins with a single step. By saving just a little each month, you’re not only securing your own future but also helping others achieve theirs. Together, we can create a community where everyone has the opportunity to thrive.
Join Hoot today and discover the power of saving together. Because when we support each other, we all win.
