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In the vast tapestry of community service, there are those whose dedication shines brightly, casting a warm and lasting glow over the lives of others. This is the story of one such individual, who, for two decades, served at Community Savings, leaving his mark on the charity and the lives it touched. As we celebrate the retirement of Richard Dorey, we reflect on a journey marked by commitment, compassion, and a profound sense of purpose.

For twenty years, Richard, whose journey began as a Chartered Surveyor, transitioned to become a Chartered Secretary and embarked on a voyage with Community Savings. It all started in the most unassuming of ways, a chance encounter and a request that would set the stage for two decades of tireless dedication. When a director of Community Savings found herself in need of a successor, our volunteer stepped up, attended a board meeting, and accepted the role.

At the start, the commitment demanded that board meetings be squeezed into flexible lunch hours, with evening hours reserved for minute-taking. Richard’s background as a Chartered Secretary proved invaluable. Balancing these obligations alongside contract work in a trust company, where accommodating lunchtime schedules were generously permitted, it was a juggling act that set the tone for years of selfless dedication.

Over the years, the journey led from the humble beginnings on Conway Street to the halls of the Town Hall and eventually to the current offices at Commercial Street. Each move, no matter how challenging, was embraced with enthusiasm, demonstrating a deep-seated commitment to the growth and prosperity of Community Savings.

The significance of Richard’s contribution cannot be measured in numbers alone, but a glance at the financial impact is awe-inspiring. Over two decades, Richard’s voluntary service equates to a substantial financial contribution, almost half a million pounds. Yet, the true value of this service extends far beyond monetary figures.

The heart of any charitable organisation lies in the stories of transformation and empowerment it weaves. Richard has witnessed firsthand the positive impact of Community Savings on individuals, like the individual who once released from prison, faced financial hardship and found a lifeline in Community Savings. With Richard’s guidance, this individual secured financial stability, and the promise of a brighter future. These are the stories that illuminate the path of community service, making it all the more meaningful.

However, what truly sets this Richard apart is his unwavering dedication to the staff and the shared passion for helping others. In an office setting, colleagues may be pleasant to work with, but when shared passion unites, a unique camaraderie emerges, transcending the confines of a conventional workplace. It is this sense of purpose that has fostered collaboration with remarkable individuals, creating an environment of shared values and aspirations.

Community Savings is no ordinary organisation; it operates as a charity on the fringes of the financial world, navigating a complex web of regulations and requirements. As Company Secretary, Richard embraced the challenges, meeting the expectations of an array of regulatory bodies.

Richard helped steer Community Savings, through at times, unchartered territory. The role of Company Secretary was never mundane; it was a dynamic role filled with purpose and responsibility, a role undertaken with passion.

One of the crowning moments of this incredible journey was when Community Savings received the Queen’s Award for Charities, a prestigious accolade that recognises exceptional contributions in the charitable sector.  Richard had the privilege of attending a garden party at Buckingham Palace as part of a small delegation, witnessing the Queen up close and engaging with other attending members of the royal family. It was a moment that encapsulated the significance of the work done by the charity.

As we celebrate Richard’s retirement we salute the dedication, compassion, and unwavering commitment that has defined two decades of service to Community Savings. Richard’s journey serves as an inspiring reminder that individual actions can make a profound difference in the lives of others and the community at large. This retirement marks the end of a chapter, but the legacy of his service will continue to shine as a beacon of hope and inspiration for all.

In an era dominated by digital transformation and the proliferation of contactless payment options, it might come as a surprise that cash payments are making a resurgence. Recent reports indicate a significant shift in consumer preferences and payment habits, with cash payments experiencing a rise in popularity. In this article, we will explore the evolving landscape of payment methods, highlighting the resurgence of cash payments and the continued prominence of debit cards.

Cash Payments on the Rise

As the world becomes increasingly cashless, it is noteworthy that cash payments are on the rise. According to recent data, a growing number of people are opting for cash as a means to manage their budgets effectively and maintain financial discipline. The resurgence of cash payments can be attributed to several key factors.

Firstly, some individuals find it easier to manage their spending when using physical cash. With cash in hand, it’s easier to gauge how much money is being spent and how much remains, making it a practical tool for budgeting. This tactile approach to finance is particularly appealing to those who prefer a tangible connection to their money.

Secondly, concerns about privacy and data security have prompted some consumers to revisit cash as a viable payment option. In an age where digital transactions can leave behind comprehensive digital trails, cash transactions present a sense of security that resonates with individuals concerned about data security risks.

Additionally, cash is universally accepted and requires no special equipment or technology to use. This makes it accessible to a wide range of individuals, including those who may not have access to digital payment methods or those who prefer not to use them.

Debit Cards Maintain Their Dominance

While cash payments are experiencing a revival, debit cards continue to dominate the payment landscape. Recent statistics show that approximately half of all payments in the country are made using debit cards. This enduring popularity can be attributed to several factors.

First and foremost, debit cards offer convenience and versatility. They can be used for in-person and online transactions, providing a seamless payment experience. The widespread acceptance of debit cards by retailers and businesses further contributes to their popularity.

Moreover, debit cards are closely integrated with banking services, allowing users to monitor their transactions easily, track spending, and manage their finances digitally. This level of control appeals to individuals seeking a modern, technology-driven approach to money management.

The contactless feature of debit cards has also played a significant role in their continued prominence. Contactless payments have become the preferred method for many due to their speed and ease of use. As the contactless payment limit has increased over the years, more transactions can be completed without the need for a PIN, further enhancing the convenience of debit cards.

Conclusion

The evolving landscape of payment methods reflects the diverse preferences and needs of consumers. While digital payment options continue to advance, cash payments are experiencing a resurgence driven by individuals seeking effective budget management, privacy, and accessibility.

Debit cards, on the other hand, maintain their dominance due to their convenience, versatility, and integration with modern banking services. Their contactless capabilities have also contributed to their popularity, making them a preferred choice for many.

As the payment landscape continues to evolve, it is essential for financial institutions, businesses, and policymakers to adapt to these changing consumer preferences. Striking a balance between traditional payment methods like cash and the convenience of digital options will be crucial to meeting the diverse needs of the population in the years to come.

Additionally, it is imperative that we emphasise the significance of retaining a cash system, especially for individuals who rely on cash payments. As the saying goes, “Cash is king,” and this age-old payment method continues to play a vital role in ensuring financial accessibility for a diverse range of people. We must remain committed to this cause to prevent disenfranchisement and uphold the principles of accessibility, thereby fostering an inclusive financial ecosystem that accommodates the needs of all individuals.

Community Savings, a charitable organisation dedicated to helping individuals experiencing financial difficulties, has partnered with Accomplish, a leading fintech solutions provider, to launch a card product that promotes financial inclusivity and accessibility. This initiative was facilitated through the introduction of Digital Jersey, a key enabler in the collaboration between the two organisations.

Community Savings’ mission to foster financial inclusion aligns seamlessly with Accomplish’s expertise in crafting innovative financial solutions. Together, they have unveiled a bespoke card product that empowers those who would otherwise be excluded from obtaining a traditional bank account.

As part of its commitment to the local community, Community Savings provides essential services such as budgeting advice, financial mentoring, and emergency funding through loans and grants. The organisation’s Managing Director, Steve Eldred, commented on the partnership, stating, “We are thrilled to embark on this collaboration with Accomplish and to have successfully devised a transformative solution tailored to the needs of our valued members who seek the ease of access offered by the Community Savings card. Accomplish has truly demonstrated their prowess as ideal partners, seamlessly aligning their card service with our fundamental basic account offering. Through this synergy, our customers have not only regained a sense of financial equilibrium but have also reclaimed the sense of normalcy that is often taken for granted. This partnership exemplifies our dedication to empowering individuals to surmount financial challenges and underscores the immense positive impact that can be achieved through strategic cooperation.”

Accomplish’s CEO, Paul Smith, echoed the sentiment, highlighting the collaboration’s significance: “Accomplish is proud to support Community Savings and its customers by offering a bespoke card product that enables Community Savings to further its valuable work in providing financial inclusivity and accessibility services to the local community. Working with Mastercard and Digital Jersey, the States and the JFSC, and our effective collaboration with the fantastic team at Community Savings, enabled us to design, set up and deploy this card programme in just a few weeks, ensuring that customers of Community Savings can enjoy the use of a Mastercard for their everyday spending needs.”

This innovative solution emerged as a response to the unexpected withdrawal of services from an existing card provider, underscoring Accomplish’s agility and commitment to swiftly address critical financial challenges. The speed-to-market demonstrated by Accomplish showcases their dedication to meeting the evolving needs of their partners and customers.

Digital Jersey’s existing MoU with Mastercard meant they were quickly able to identify Accomplish, whose product runs on the Mastercard payment rails, as a suitable new partner for the scheme, and to facilitate an introduction to Community Savings. This connection has paved the way for a successful partnership, delivering a truly first class solution and providing valuable support for over 350 Community Savings customers.

The collaboration between Community Savings and Accomplish embodies the power of innovative thinking, strategic collaboration, and a shared commitment to fostering financial inclusion. Through this partnership, both organisations aim to empower individuals, restore financial stability, and create a brighter future for the local community.

Join us for our inaugural charity golf day on Wednesday 4th October at Les Ormes Golf Club.

£125 per person to include lunch, or £75 per person if you would like to join us for lunch only.

44 Players. 18 Holes.

Fundraising Raffle & Auction.

Contact Paul Brookes at paul.brookes@communitysavings.org.je for further information or to reserve your place.

We would love to see you there!

We are looking to increase our team! Are you enthusiastic, caring and have some experience of financial services?  If so, we are looking for new volunteers to support the charity’s front-line work.

Volunteers will assist the team in providing support for its counter service and in general office administration.  Our service users can access basic account services through us and our counter service allows them to ‘drop in’ to discuss their account, provide instructions and access our broader services such as emergency funding and budgeting advice.

We operate 4 mornings a week, Tuesday to Friday, and we are ideally looking for someone that can give a minimum of one morning per week, preferably Wednesday to begin with.

Applicants should be committed, non-judgemental and professional with good communication skills and possessing a desire for joining our friendly and passionate team.

Should you be interested in this volunteer role please contact Lisa Lidbury with your CV at lisa.lidbury@communitysavings.org.je or call 737555.

With a background of 22 years in Compliance within the finance industry, Mandy recently joined Community Savings as the Money Laundering Compliance Officer. Her Compliance experience has covered Private Banking, Investment, Trust Company, and Fund Services Businesses, mainly specialising in Anti-Money Laundering/Countering Financial Crime.

Shortly after, Claire joined the team on a part-time basis having previously ran an event management business and is now running a business in health and well-being when she isn’t working for the charity.  She brings with her a wealth of experience in event management, marketing and business development.

Steve Eldred, Managing Director of Community Savings, commented: “We are delighted to welcome both Mandy & Claire to the team and are confident that the charity will benefit significantly from the extensive experience and expertise that they both bring to their individual roles.

Mandy’s role is central to what we do here at Community Savings.  She will assist the Board in ensuring that the organisation fulfils its anti-money laundering regulatory obligations and is kept up to date with regulatory developments.

Like any charitable organisation, our operations depend greatly on the kindness and support of individuals and businesses.  Their generosity enables us to sustain our services for Jersey residents facing financial challenges.  Claire’s addition to our team is invaluable.  Not only will she contribute to achieving our fundraising goals, but she will also establish connections with external parties, ensuring their awareness of our services.  This way, they can effectively relay this crucial information to any Islanders who may require our assistance.”

Mandy commented: “It’s a pleasure to work for the charity to ensure we are upholding, implementing and complying with all anti-money laundering policies, procedures and regulations.”

Claire said: “I am delighted to be a part of the team at Community Savings, and to work on developing the awareness of the charity which provides such an essential service to our community in Jersey.”

During National Volunteers Week, 1st-7th June, a message of gratitude and thanks to all of our volunteers. Thank you for your dedicated support and for choosing to be a part of our journey.

April 2023 – Community Savings are delighted to announce they have achieved their Cyber Essentials Certificate of Assurance