28 October 2022
More people continue to choose Foresters Friendly as their savings provider!
As the number of people saving with Foresters continues to increase it shows that a different kind of savings provider, such as a mutual like us, really can help to make a difference in times of economic ups and downs.
At the end of September 2022, the number of new savings plans being opened with the Society had increased by 77% compared to the same time frame in 2021.
How are people choosing to save with Foresters?
Whilst lump sum investments and transfers continue at a strong rate, people looking for an alternative to the more obvious high street banks are also turning to Foresters for regular savings plans (where savers pay into the plan with a monthly direct debit) which are proving to be increasingly popular.
Foresters’ range of savings plans start from just £25 per month making it an affordable way to save for your future.
What makes Foresters different?
Everything we do is about our customers, or as we like to call them, our members.
We’re a Friendly Society, also known as a Mutual. That means we don’t have shareholders, instead we are owned by our members so we don’t have to pay profits to shareholders. What we do instead is pay our profits to our members through annual and final bonuses which are added to their savings pots.
We also have a long and strong track record of giving back to our members through a range of worthwhile member benefits and we are proud to have paid £1.7million to members in discretionary grants and charitable donations in 2021 alone. This is in addition to the £6.64million that was declared in policy bonuses.
Member benefits range from discretionary financial assistance to cover the costs of dentist or opticians bills, through to assisting our members, whatever their age, on their higher education journey.
Unlike a loan, these grants do not require paying back. It’s just another way that we really are here for our members.
Sally Waterfield, Head of Marketing at Foresters Friendly Society commented “Life can no doubt feel a bit unpredictable in times of uncertainty but, here at Foresters Friendly, you can rest assured that we will always have your best interests at the heart of what we do.
It’s great to see that saving continues to be high on the household agenda for those people choosing Foresters as their savings provider. And, we hope that the reassurance of our member benefits package, should it ever be needed by members, will offer comfort in times of need.
We are continuing to invest in our first class service for our members and anticipate new digital services to be available throughout 2023, giving our members even more choice on the way they choose to interact with us.
If you’ve not considered Foresters yet, why not take a look today and come and join the family.”
You could get back less than you pay in. Bonuses are not guaranteed. The membership benefits we provide aren’t regulated by the Financial Conduct Authority or the Prudential Regulatory Authority, and are regularly reviewed by us to ensure they are relevant to our members.