The savings and loans co-operative which serves Shropshire and Telford & Wrekin is giving its full backing to UK Savings Week, an annual initiative aimed at encouraging people to take control of their finances and think about saving.
Just Credit Union says that whether it is saving for a rainy day, a specific goal, or a treat, the event reminds people of the importance of setting aside money regularly.
Its principal aim is to improve the financial well-being of people who live or work in the region by encouraging saving and providing access to ethical affordable loans when needed.
Steve Barras, Development Officer with Just Credit Union, said: “UK Savings Week is a great time to raise awareness about the benefits of saving, to offer some practical advice on how to start or boost savings, and hopefully inspire conversations about financial well-being. Organisations across the UK will be taking part and we are delighted to be bring the savings week to our region.”
This year the week will take place from September 9-16 with various activities, events, and campaigns running to promote the importance of saving and provide practical tips on how to save more effectively.
Said Steve: “The event is designed to help people of all ages and financial backgrounds understand the value of saving, whether it’s creating an emergency fund, saving for future goals or for a special event or treat. Throughout the week we will be sharing resources, tools and hints and tips to help individuals improve their saving habits and make great financial decisions.
“There will also be some fun competitions and giveaways. Research shows a quarter of people have less than £100 in savings and we know how difficult it is to save, especially in the current economic climate, so we’ll be asking people to take up the Savings Challenge and then let us know how they get on.”
The savings challenge asks people to set aside a few minutes during the week to review their finances and set a savings goal. Then open an account and start working towards their personnel savings goal.
Steve added: “This is a great opportunity to take some time to review your income, expenses and current savings. Identify areas where you can reduce spending and check you are accessing all the benefits to which you are entitled. It really helps if you set a savings goal – your savings account stops being just any old savings account and becomes ‘your holiday’, ‘your wedding’ or ‘your car’ savings account!
“The great thing about saving with Just Credit Union is not only is it a secure savings account with instant access, it is also a co-operative owned by its members so you effectively become a part owner of your credit union. Members also have the satisfaction that the savings stay in the area and are used to help other people – not corporate profits.”
Just Credit Union will be sharing the hints and tips across their social media and on their website justcreditunion.org