Jennifer Sutton of the Wave Community Bank says her bank offers Kent people who are struggling with their finances the chance to get back on their feet.
In a live interview with West Kent Radio's Zac Daunt-Jones on the 4-7pm weekday drivetime programme, Jennifer explained the role of the bank in supporting people across Kent and East Sussex.
Wave Community Bank helps people manage their money and access fair and affordable credit. It works right at the heart of the community supporting people who may be left behind by mainstream banks.
It is regulated by the Financial Conduct Authority and has to follow many strict affordability rules "and being a bit nicer with it as well".
Listen to Jenny Sutton of Wave Community Bank here:
Jenny started by explaining "I'm the Bank of Dave for Kent" - she was referring to the 2023 Netflix hit drama. That was based on the real-life experiences of a Burnley self-made millionaire, Dave Fishwick, who struggles to set up a community bank to help the town's local businesses to thrive. To do so, he must battle London's elite financial institutions and compete for the first banking license in more than 150 years.
Wave Community Bank is is a non-profit bank or credit union and operates what it calls "a ethical, sustainable, successful savings and loans co-operative."
The bank states on its website: "We are an ethical lender and only lend to people who can afford to take on the debt. As all of our loans contain a saving element to repayments. We will help you to get out of debt and build your saving. Turning borrowers into savers is what we do."
Jennifer and Zac are pictured below in the studio after the interview.
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