Save as you borrow - credit unions creating good habits In February 2017, the Fairbanking Foundation released a report that concluded that credit unions as a result of the practice whereby you have to save as you borrow (SAYB) created good savings habits. The practice encourages their members to put an amount into a savings account as part of making a loan repayment. The SAYB model of lend...
Continue Reading ...
Derbyshire Loans There are a lot of myths about borrowing from credit unions so to set the record straight, here are a few Myth Busters for you. 1. We are NOT a “poor man’s bank”. Derbyshire Community Bank has savers and borrowers from all walks of life. This creates a pot of money that not only covers our running costs but can be used again and again as affordable loans for the p...
Continue Reading ...
Loan for funeral costs Funeral costs vary significantly from one provider to another but the average is around £4,000 which for many would come as an unexpected shock on top of the loss of a loved one, especially if the estate is unable to cover the cost. Some people are organised for such an event by paying into a funeral plan so that their family do not have the unnecessary worry of sudd...
Continue Reading ...
We all know entertaining kids throughout the half term holidays can be a tough, especially on a budget! What do you do every day? How much money do you spend on activities with the kids? What do you do if the weather is bad? But hang on, there is no reason to worry! Derbyshire is full of great activities for families to do throughout the holidays for brilliant, affordable prices, making h...
Continue Reading ...
Emergency Fund So the big question is do you have a fund in case of emergencies? When the washer breaks; the cooker goes kaput; the car splutters and breaks down or worse case scenario your made unemployed or suffer illness and lose pay or benefits; do you have an emergency fund that you can fall back on? No? Whilst having an emergency fund makes sense, it's not always that easy to find spar...
Continue Reading ...
The 2018 Annual General Meeting of Derbyshire Community Bank (trading name for Erewash Credit Union) will take place at Derby Cathedral, Derby on Tuesday 20th February at 6.00 pm. Please let us know by email at info@dcbank.org.uk if your attending so that we can provide sufficient refreshments or confirm your attendance on our Facebook page event. To keep up to date with news, inform...
Continue Reading ...