1 in 4 people in the UK have less than £100 in savings and for the 8 million people that struggle to access credit, that’s a significant worry. How do you find £400 for a new washing machine when you don’t have savings or easy access to a credit card? – https://fair4allfinance.org.uk/talk-money-week-2023-why-is-financial-inclusion-important-and-what-role-does-affordable-credit-play/
Helping people manage their money well is what we do. Everyone who borrows from us saves a little each time they make a loan repayment; building up their savings as they go. Sometimes that’s the only savings people will have. Savings give you choices: use your savings, or borrow affordably if you prefer.
Save just £12 monthly (or £3 weekly) on payday is all it takes to build up a savings pot (that’s about £150 in a year). This is your emergency fund; when something goes wrong or an unexpected bill, there’s no need to borrow; just use your emergency fund!
To make saving even easier and faster, we are increasing our borrowing Members’ Holding Saver value from £2/week to £3/week, or £12/month.
This is about more than money. Many people suffer with anxiety and mental health issues when money is tight. Your emergency fund is also your comfort cushion 😊
Your savings with DCBank are safe, accessible, and always there when you need it.
Saving with DCBank also helps your community; we will lend money back out to people who need it. They will also be saving as they repay; so everyone wins!
Emergency Fund is step 1 on your saving journey. Find out more about the 5 steps of saving.
£12 month or £3/week is not much, but it becomes very powerful when you set a regular saving arrangement, then just let it work it’s magic each month. You’ll be surprised how quickly it builds up.
Standing Order – Log in to your bank internet banking, edit your standing order to your DCBank Member account to at least £12/month (plus any loan payments!)
Payroll Deduction – ask your HR department, or contact us to amend your payroll deduction amount.
Child benefit or other benefits – contact us and we will amend your settings so you can increase your savings
Save as your Pay – we will amend your Holding Saver to £3/week or £12/month when you next sign a loan agreement
Don’t forget to use our smartphone App or internet banking to keep an eye on savings and loans balance
Internet banking
