04 October 2023
New Employer Partnership Opportunities
In today's economic climate, achieving financial security and resilience is challenging for individuals and families. Startling statistics reveal that a significant portion of the population holds less than £100 in savings, leaving them vulnerable to unexpected financial hurdles. Recognising this pressing need, Boom Community Bank is dedicated to delivering accessible, ethical financial solutions. Our mission is to empower communities in Surrey, South Oxfordshire District, Berkshire, East Hampshire, and West Sussex to secure their financial futures.
Boom Community Bank: Your Trusted Financial Partner
With a reputation as a trusted financial institution, Boom Community Bank serves a diverse membership of 12,500 individuals, with cumulative savings of £7.4 million and a loan book totalling £6 million. Beyond traditional financial services, we are committed to offering comprehensive support and guidance to help customers navigate their intricate financial needs.
The Challenge of Financial Resilience
A recent report funded by the Money and Pensions Service, conducted by the Financial Inclusion Centre, highlights a troubling fact: 22% of the population keeps less than £100 in savings. This precarious financial position leaves many living on the edge, constantly at risk of being ill-prepared for unexpected expenses or income loss. We understand the significance of building financial resilience, so we have developed My Money Box to help address this issue, which we deliver to hundreds of employees in collaboration with local employers, including prominent organisations like Waverley Borough Council, Surrey and West Sussex County Councils, and several NHS Trusts.
How My Money Box Works
My Money Box is an innovative savings and loan program that leverages automatic salary deductions. This program encourages employees to develop healthy and persistent saving habits and streamlines loan repayments, offering peace of mind and simplified financial management.
Benefits of My Money Box:
- Simplified Saving: My Money Box makes saving easier by automatically deducting a portion of an employee's salary and depositing it into their Boom Community Bank savings account.
- Employer Partnership: Employers can actively support their workforce's financial security by offering My Money Box, leading to a more motivated and content team.
- Convenient Loan Repayment: My Money Box simplifies the loan repayment process, allowing employees to repay their loans through payroll deductions while building their savings for the future.
Join the Movement with Boom Community Bank
If you're an employer seeking to positively impact your employees' financial well-being, consider partnering with us to bring My Money Box to your organisation. Our effective collaboration holds the potential to transform your team's financial stability, increasing happiness, motivation, and financial security. To learn more and express your interest in partnering with us, visit https://boomcb.org.uk/my-money-box or email email@example.com.
Discover the transformative power of My Money Box and pave the way for a brighter financial future for your employees with Boom Community Bank.