By Anne Cacherell
Self-made millionaire and successful minibus retailer David Fishwick founded Burnley Savings and Loans in 2011. It is an independent lending scheme based in Burnley, United Kingdom that supports businesses by borrowing from savers who in turn receive a decent return of their money. Founded in 2011, it is trading under the advertising slogan, Bank on Dave.
Fishwick felt that the current bank system is corrupt and needed change. So, he came up with this unique idea that is similar to the old-fashioned, face to face banking that helps grow local economy instead of just serving the shareholders. His concept was recognized by some members of the government and they are now encouraging the parliament to reform the UK’s banking system. Another good thing about his bank is that the profits don’t go to his pocket or staffs’ bonuses but to different charities.
Fishwick came from a poor, but hardworking family. He left school at 16 and made his first million in his 20’s. His determination to help his beloved hometown reflects in his way of doing things.
Watch the video to see how his once ridiculous idea turned into a global success story.
What do you think about the current banking system? Would you like to have an institution like Dave’s on your community? Tell us your opinion.