Dudley Building Society urges people to make the most of their savings
Dudley Building Society is playing its part in this year’s UK Savings Week which is focused on encouraging people to make savings a habit.
The Dudley is providing guidance for savers to help improve their overall financial wellbeing.
It comes as new research from the Building Societies Association found that, despite increasing interest rates, over a third (32 per cent) of savers in the West Midlands never compare their savings interest rate to others available in the market.
Three in 10 savers (31 per cent) within the West Midlands also never check what their rates are with their own bank or building society, so many may be missing out by holding their savings in accounts offering lower rates.
Dudley Building Society is offering people the opportunity to boost their own financial understanding after they partnered with the Express & Star to run a free financial wellbeing webinar on Thursday at 7pm.
Hosted by The Money Charity, the webinar will provide information across a number of money related topics, including how to make your savings go further, budgeting better and managing debt.
Chief Executive of the Dudley, James Paterson, said: “We are committed to supporting local people to build their awareness around savings.
"A number of local people have accounts with high street banks, who generally pay lower interest rates than building societies like us, and who are closing more and more local branches. Savers should consider moving their hard-earned savings to a local brand they can trust.”
The Dudley has also been sharing their customer’s savings success stories to encourage others to set savings goals to work toward.
Simon Sage, a Dudley Building Society savings customer, reached his savings goal of restoring an abandoned military jeep by putting savings away in one of the Society’s savings accounts each month.
Simon explained: “I wanted to keep it because I know that someday I will get it back on the road again.
"Where we got savings or birthday money or wherever I could, I would be putting money away into an account.
“If I put something away each month then you feel like you’re getting closer to the dream.”
To register to join the webinar, visit dudleybuildingsociety.co.uk/financial-wellbeing-webinar/.
