£12 month Saving Campaign

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Posted by: Phil Cole
Posted on: 19/12/2023

We’re on a mission to get Derbyshire saving!

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!

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.

Set and Forget Today

£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.

How do you save?

Standing Order – Log into 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

Don’t forget to use our smartphone App or internet banking to keep an eye on savings and loans balance

Internet banking

 

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