Building up savings

It is always worth trying to build up savings. Having some money put aside for emergencies, even a very small amount, can really help in the event of unplanned costs or changes to your income.

If you think you are likely to be transferred onto Universal Credit, it is a good idea to start putting small amounts of money away now to help you while you are transferred - it can take several weeks from making your claim until your get your first payment. It can also be useful to build up some credit on your rent account if you can afford it - to speak to someone in our Rents Team about this, please call 0333 200 7304 and select 'option 3' or email

Credit unions

An easy and safe way to save is with a credit union. These are co-operative, not-for-profit organisations which provide a range of safe and affordable financial services. They are run ‘by the members for the members’.

Credit unions make it easy to save through a range of savings accounts. You can choose to save as little or as much as you can afford, weekly, monthly or whenever you wish. And when you invest in your local credit union it is your neighbours or colleagues who benefit, not outside shareholders.