30 years of credit unions in Bolton


On July 19 1990, Johnson Fold Credit Union opened its doors to new members.


Started to encourage local residents to build up savings pot and then use those savings as security for borrowing at affordable rates, the credit union continued to expand and encourage other areas of Bolton to set up a credit union.


30 years later Hoot Credit Union continues to serve its members in the community, including Johnson Fold. 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 members.


Some of those original volunteers are still members of Hoot and continue to support the credit union in serving the community.


Download the brochure – 30 years of credit unions in Bolton

Serving Members

Serving Members

Hoot members access affordable credit and save around £200 in interest on a typical small loan of £300.


Members gain a savings habit for the first time. Improve their credit scores, increasing access to other products and services.


Using Hoot helps members to improve their financial confidence and sense of well-being.

Improving Well-being

Improving Well-being

Hoot’s average member scores 25% lower on well-being scales than the average Bolton resident.


After six years of membership their scores rise by 20%.


Established Hoot members are three times less likely to worry significantly about money.


100% of members with the lowest credit scores see them improve after they have repaid a Hoot loan.

Serving the Community

Serving the Community

Over £800,000 in interest payments saved for local households each year.


72% of Hoot loans are spent in Bolton or Bury.


Hoot lending provides at least a £2 million boost to the local economy each year.


Hoot’s central location provides a valuable service at the heart of Bolton.

Working with Partners

Working with Partners

Based on values developed by HACT Hoot provides £9.5 million worth of impact social value each year.


More tenants can stay out of debt, get a savings habit and keep their homes well decorated.


Employers can provide a benefit to their staff that they value highly as Hoot helps over 400 employees to save and borrow, reducing financial stress and increasing productivity.