Yorkshire Building Society has signed up to the Savings Charter from the Money and Pensions service.
This is a set of commitments to help raise the profile of savings in the UK. The mutual has committed to identify and support the key principles and report publicly on its progress.
Developed through the Money and Pensions Service, the charter ensure banks, building societies’ and financial service providers demonstrate that they are committed to help people to save, as part of an industry-wide initiative to build a Nation of Savers
The five key principles of the charter are:
- Publicly demonstrate a commitment to build financial security through savings
- Support individuals to save by understanding their financial situation and goals
- Give people an access to their savings buffer when they need it
- Keep customers informed about their savings and their options as customers
- Talk about saving in your local communities, and places of education and work
Chris Irwin, director of savings at Yorkshire Building Society, said:
“At Yorkshire Building Society we are committed to helping people build financial resilience and work towards their financial goals. Research shows that people who save regularly are generally less anxious about money and report greater life satisfaction, regardless of income.
“We are proud to sign up to the Savings Charter, confirming our commitment to help people save, whatever their age, situation and savings experience and supporting the aim to help the UK become a Nation of Savers.”
You can learn more about the principles and the charter here.
