22nd – 28th September is UK Savings Week – a national campaign encouraging people across the country to get into the habit of saving. With so many households finding it hard to put money aside right now, it’s a good reminder that even small steps can make a big difference.
At The Money Co-op, we know how important it is to have a financial cushion. Whether it’s for life’s little surprises or bigger future plans, having some savings behind you brings peace of mind and reduces stress.
Why savings matter
Recent research shows that around 14 million people in the UK have less than £100 in savings to fall back on in an emergency. One in ten people have no savings at all, and a further fifth have less than £1,000. That means many families are just one unexpected bill away from real financial difficulty.
That’s why credit unions like The Money Co-op exist – to provide a safe, supportive way to build financial resilience. And the good news is, it’s working. Across Britain, more people are turning to credit unions, with membership now at an all-time high of 1.52 million.
How we’re helping members save
Here at The Money Co-op, we’re proud to say our members have saved over £75 million with us over the years. Right now, around 10,000 members save with us regularly – and many do this straight from their wages through our workplace partnerships, which makes it even easier to build up savings without having to think about it.
Our recent member survey found that:
- Over 75% of members save more regularly since joining us
- More than two-thirds feel more financially secure as a result
What our members say:
We hear time and again from members how saving with The Money Co-op has made a real difference, and feedback in our recent member survey was no exception. Members told us:
“I’ve never been able to save before but now I’m saving without even thinking about it”
“It’s helping me build a rainy day fund. Everything is automatic. It’s a small monthly amount and I can see it growing.”
“I love that I can save for a rainy day, directly from my wages. The added bonus is that it’s so quick and easy to access should I need it”
“Money is taken directly out of my wages, so I don’t miss it, or have to remember to move it.”
“The money is taken directly from my pay so now I don’t miss it, and the money doesn’t get used for other less essential things.”
A message from our CEO
Lisa Parry, our CEO, sums it up perfectly:
“UK Savings Week is a reminder that even small amounts can make a big difference. Our members tell us that being part of The Money Co-op has helped them to build a savings habit they can stick to – giving them peace of mind and a financial cushion when life throws up the unexpected. That’s exactly what we’re here for: to help people feel more confident and in control of their money.”
Start your savings journey
If you’d like to build your own savings habit, we’re here to help. Whether it’s putting away a small amount each week or setting up regular savings straight from your wages, every little bit counts.
