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MSE News: 'Better protection' still won't safeguard Christmas savings cash

"Cash in a Christmas savings scheme still isn't safe if the club goes bust, despite authorities outlining more protection..."


  • AaronAaron Forumite
    75 Posts
    Part of the Furniture 10 Posts Combo Breaker
    Don't mess about with your savings. Don't give it to the fat-cat-owned savings clubs. Put it in your Credit Union. Keep your savings local and owned by you.
  • I agree with Aaron. Great post and link. As Martin says Credit Unions are a safe home for your savings (up to £85,000!).
    Local collection points, friendly volunteers manning the collection points, and a range of savings and loan products, including special schemes for Christmas Clubs. You can save a modest amount every week or month, build up your savings and if you do have a financial crisis you have the option of apply for a loan at a very low interest rate. Let's beat the doorstep lenders.
    An oak tree is just a nut that stood its ground
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