Burnley Savings and Loans (BSAL) has been in the media spotlight since it first opened its doors in 2011. The Channel 4 series Bank of Dave, was broadcast in the UK in July 2012, and was later aired around the world by various broadcasters, following the creation of the scheme as it opened its doors to the public. A follow-up episode named Bank of Dave: Fighting the Fat Cats was shown in February 2013, with a bestselling book of the same title, also being released later that year. Since then, the UK and international media has maintained its interest in BSAL, with regular column inches in the mainstream UK and worldwide press, and many leading political figures voicing their support for the BSAL model.
Having been a small business customer of Burnley Savings and Loans since its set up…I can fully vouch for and strongly recommend this financial business. David used good old-fashioned values and character judgement to decide upon us being granted the loan.
David Fishwick has struck on a model of banking close to a theoretical ideal – it is towards this model that the world should move.
William Hague, MP visited David Fishwick recently to discuss business and the economy.
It is absolutely vital that we have people like [Dave] so we can have some proper competition in the banking sector. This is a community business, so if we can help in any way, then we will.
I would like to see much more of Dave Fishwick. One of the things I’m doing is launching the British Business Bank which is encouraging new people in banking…and I’m sure Dave will have a big role to play in that.
The beauty of the Bank of Dave is…the kind of relationship Dave has with the businesses – he knows them, he walks past them, he actually goes and visits the businesses and he understands their business models and can see whether they are successful or not.
That is why we are looking at setting up a network of local banks like this which have the core of their mission to serve and grow the local economy rather than just for profit and serving the shareholders.