The Owl Effect

Measuring the Social Impact
of Hoot Credit Union

2023 Edition


The Owl Effect, Measuring the Social Impact of Hoot Credit Union  is about the impact credit union services have on the community and how being a member of Hoot impacts financial well-being.

Credit unions have provided services to the people of Bolton for over thirty years and more than 6,500 people now benefit from the safe savings, affordable credit and financial  education that Hoot Credit Union delivers to its members.


Hoot is motivated by the desire to provide approachable, affordable and accessible financial services that meet the needs of everyone who lives, works or studies in Bolton or Bury.


Four years on from our first social impact report, our 2023 edition updates on how we have impacted the financial lives of our members, the community and the local economy.


If you want to know more about how Hoot improves the financial well-being of the community contact

Hoot provides safe savings and affordable lending services to over 6,000 people.


Since 2019, Hoot members have saved up to £4,672,242 in loan interest by coming to Hoot rather than high-cost, doorstep lenders.


86% of Hoot borrowers are saving for the first time.

67% of money lent by Hoot is spent in Bolton and Bury.


This leads to a multiplier effect which means that for every £1 Hoot lends, it is estimated that £1.87 is spent in Bolton and Bury, and £2.15 is spent in Greater Manchester. Since 2019, this provided a £20.9 million boost to the local economy.

Based on values developed by HACT, Hoot has provided £17.4 million worth of social value each year.


Hoot helps over 600 employees to save and borrow, reducing financial stress and increasing productivity, and 98% of Hoot members using payroll would recommend the method to a colleague or family member.



To request a PDF copy or to provide feedback on our report please contact