Comments on: Is a Friendly Society a Good Home for Your Savings?

By: C A Glenn

C A Glenn — Tue, 23 Feb 2021 18:09:59 +0000

Just contacted shepherds friendly for a value of my account, they have applied a “market value reduction” & taking 10% of the money I have paid in. This is daylight robbery & I am disgusted with them. STAY AWAY from these crooks. Of course I have not accepted & will seek assistance from the financial ombudsman.
BE WARNED

By: Nick

Nick — Sat, 30 Nov 2019 13:30:29 +0000

In reply to Jenna Parrington. Thanks, Jenna. I guess we could all say that!

By: Jenna Parrington

Jenna Parrington — Fri, 29 Nov 2019 20:44:35 +0000

I’d like to think so, thanks for sharing this! I just wish I had more savings to save! Ha ha

By: Nick

Nick — Fri, 29 Nov 2019 13:48:51 +0000

In reply to Ra_k_. No problem. Glad you found it helpful :-)

By: Nick

Nick — Fri, 29 Nov 2019 13:48:14 +0000

In reply to My Dreamality. Thanks for the comment. Yes, friendly societies definitely represent an interesting alternative destination for your savings. Interest rates paid by Shepherds Friendly have been higher than most banks for at least five years (though this is not guaranteed in future, of course). And the fact that your money is protected by the FSCS guarantee offers added reassurance.

By: Ra_k_

Ra_k_ — Fri, 29 Nov 2019 12:40:17 +0000

Great advice, thank you for sharing.

By: My Dreamality

My Dreamality — Fri, 29 Nov 2019 11:53:06 +0000

This is really useful information as I always find myself looking for alternatives from the big banks. Thank you for sharing.