Hoot is a co-operative, community business offering ethical and affordable financial products to our members.

The money saved by members is pooled together and used to offer low interest loans. This is how we can offer an alternative source of credit at a fair rate of interest.

• Members are encouraged to save for the future and in return, they receive affordable credit and access to low cost loans.

• The interest received on the loans pays for the administration of the credit union with any surplus being put into reserves and, when possible, paid back to the members in the form of a dividend.

• For this reason both savers and borrowers are essential to a successful credit union. Members know that by saving with Hoot they are benefiting other people in the community or workplace.

You have ownership – You are the shareholder and your interests and those of other members come first. Profits are shared amongst the members, not fat cat city investors.

You have a say – Members elect the Board of Directors to represent your interests. The Board report back to members at the annual
general meeting.

It’s all about you and your community – Our staff understand what members want and everything we do is for the benefit of members and the local community.

We save you money – Hoot offers flexible savings and affordable loans at fair and responsible rates saving the community hundreds of thousands of pounds in loan interest.

As a community co-operative Hoot is committed to offering products and services that help members manage their money and build up a history of good money management. When you take a loan with us you become a Hoot member. Being a Hoot member means you are part of a community that encourages good money management, active saving and responsible borrowing.

Our commitment to you

• We aim to provide the best level of service we possibly can.
• We will lend responsibly and provide products that suit your needs and that you can afford.
• We will treat you as an individual and ensure that your own circumstances are taken into account.
• We will provide information about our products and services in a clear and understandable way, so you can decide what is best for you.
• We will always aim to assist you if you find yourself in financial difficulty and find a solution that helps you to find a way to repay your loan.

Your commitment to us

• You will always ensure that you can afford to repay your loan by reading all the information and asking questions.
• You will pledge to save as much as you can afford whilst repaying your loan.
• You will make your loan repayments on time, using a payment method agreed when you sign your loan agreement.
• You will tell us as soon as possible if you find you are struggling to repay your loan.
• You will ensure that you tell us of any change of contact details or change of circumstances.