Ever wondered what your savings are doing while they sit in your Money Co-op account?
The simple answer? They’re doing good things!
When you save with The Money Co-op, your money doesn’t just sit in a pot gathering dust. It’s put to work – helping other members borrow affordably when they need a hand. That might be someone using a loan to cover school uniforms, replace a broken boiler, or pay for emergency car repairs so they can continue to get to work.
Your savings make that possible. And one day, if you need to borrow, someone else’s savings will help you too. That’s the beauty of the co-operative model – it’s people helping people.
Unlike banks, we don’t exist to make profits for shareholders. We’re a member-owned organisation – run for the benefit of everyone who saves and borrows with us. The money we make goes back into improving our services or gets shared out among members.
How does that work?
At the end of each year, if we’ve made a surplus (once all our costs and commitments are covered), we give something back to our savers in the form of a dividend.
What’s a dividend?
It’s a share of the profits – paid to members who’ve saved with us during the year. The more you’ve saved (and the longer it’s been in your account), the more you could receive. In our last financial year, members received a return of 1.5% on their savings – a nice little bonus just for putting money aside.
Of course, because it’s based on us making a surplus, the dividend amount isn’t guaranteed. But we’ll always aim to give back what we can, fairly and transparently.
So what does all this mean for you?
Saving with The Money Co-op isn’t just about putting money away for a rainy day – although it’s great for that too. It means you’re part of something bigger. Your money is supporting a community of members, just like you, all working towards better financial wellbeing.
Whether you’re saving for Christmas, building up an emergency fund, or just getting into the savings habit – your money’s in safe hands. And it’s doing good while it sits there.
That’s the Money Co-op difference. Your money, doing good.
