Angel Saver

Here at DCBank we are blessed with individuals and organisations who deposit £1,000 or more, enabling us to lend to people in our community who may be financially excluded. These deposits enable us to lend to and support many more people. That’s why we call these Members our Angel Savers; they are here to support our community, not for financial gain. Thank you Angels!

Access to affordable credit can be difficult if you don’t have a Credit history (thin file), moved address frequently, a recent migrant to the UK, if you’ve missed payments on other borrowing or have a low income. We carefully set our lending criteria to ensure that loans are affordable and for a beneficial purpose. Plus, all our borrowers save £12/month alongside their loan repayments, experiencing the benefits of saving regularly, building financial resilience and good money habits.

Why be an Angel Saver

• Your money is safe; FSCS protection up to £85,000
• No cost, no annual fee
• Annual dividend paid (2% in 2024)
• Social impact – every £1,000 deposited enables us to lend to up to 5 people in our community
• Withdraw at any time (but we do request minimum 12months deposit)
• Tax payers earning more than £1,000 from savings interest, or £500 if higher rate tax payer investing in a social return
• We will keep you informed of the impact of your deposit on our Social impact

Next Steps

1. Join DCBank as a Member or Corporate Member
2. Deposit £1,000 – £20,000
3. We will send you your welcome information
4. Register with our internet banking/App to monitor your deposit and send us secure messages
5. We will update you with the social impact of your deposit
6. That’s everything!

Dividend Options

We pay an annual dividend on savings with DCBank, this is approved at our March AGM. Some of our Angel Savers choose not to take their dividend to help us reduce costs and support more people in community. Here are your options:

1. Dividend paid to your DCBank account
2. Choose not to receive a dividend. This will go to our general reserves.

Derbyshire Community Bank is a member-owned financial cooperative. We are self-sustaining; not dependent upon grants or funding. Our operating expenses are funded by our lending interest.

Donations

We are able to accept donations to our general reserves or specifically to support very excluded individuals. These may be individuals in vulnerable circumstances; recently left prison, no fixed abode, domestic violence survivors.

We are very clear that a loan is not always the best choice; we work with, and signpost to local support organisations for the best solution. However a small low-cost loan can enable people to get back on their feet with dignity and build a credit history that will be invaluable when they need to rent a property, open a bank account, mobile phone contract or any other service that requires a credit check.