The Cumberland supports UK Savings Week with options to suit savings needs
The Cumberland has reaffirmed its commitment to helping its customers rise to the challenge of ongoing financial pressures ahead of UK Savings Week.
Running from 9 to 15 September, The Cumberland is passionate about highlighting the importance of financial wellness and encouraging everyone to start saving, even if only a small amount each month.
The Cumberland’s commitment comes as people across the UK are being impacted by the cost-of-living crisis, which can put a strain on their finances.
With a people-first approach driven by the building society’s Kinder Banking principles, The Cumberland is committed to helping customers manage their finances amid ongoing pressures, recognising that every savings journey is unique, while prioritising customer well-being and social responsibility.
As a result, The Cumberland offers a range of accounts to meet various savings goals - whether customers are beginning their savings journey or seeking fixed-rate security, the accounts offer a solution for many savings goals.
Offering a personal touch, The Cumberland’s customers have direct access to Cumberland colleagues who will provide expert guidance and support. This approach ensures a more ethical and community centred banking experience.
Samantha Coulthard, Savings and Current Account Product Manager at The Cumberland, shares practical tips for those looking to build their savings: “Start by reviewing your outgoings to determine how much you can save each month.
“Make it a habit to set aside money to save as soon as you're paid to avoid unnecessary spending. It’s also worth checking your existing savings accounts to ensure you’re getting the best product for you.
“At The Cumberland Building Society, we understand that everyone’s financial situation is different, and we’re committed to supporting our customers’ unique savings journeys”.
“Our people-focused approach allows customers to speak with real people, either in-branch or over the phone, to find the best savings options for their needs.”
Samantha added: “We offer a variety of savings products, including instant access, notice accounts, fixed rates, and ISAs, suitable for both large and small savings goals. Even small, irregular savings can add up over time and better prepare you for unexpected expenses.”
Allister Green, Savings and Current Account Product Owner, also works as a Mental Health and Wellbeing Champion at The Cumberland Building Society.
He emphasises the link between financial wellbeing and mental health: “Financial wellbeing and mental health are deeply interconnected, with each significantly influencing the other. Financial stress is one of the most common sources of anxiety and depression. Poor mental health can lead to difficulties in decision making and thus managing finances effectively, creating a vicious cycle that can be hard to break.”
Allister works with colleagues to understand and break down the stigma around mental health conditions. He adds: “Whilst building savings or establishing a savings habit can be challenging in some circumstances, they can act as an important tool in breaking this cycle by creating a financial buffer. This provides a sense of security and reduces dependency on credit, all of which can reduce the stress and anxiety which can be associated with managing household finances.”
Please click here if you are interested in finding out how The Cumberland can support your savings needs.