Building a regular savings habit is one of the most effective ways to plan for the future and create financial stability. Saving regularly, no matter how small, can provide peace of mind and help you cope with life’s uncertainties.
We encourage all our members to save regularly, no matter how small the amount. Your savings not only benefit you by creating a safety net for unexpected expenses, but they also help strengthen our community. When our members save with us, they support the local community, contributing to ethical investments.
With protection for your savings and the potential of securing a loan in the future, Acorn offers you a secure and supportive way to manage your finances.
Unlike traditional banks that pay interest, Acorn pays a dividend when we make a profit. Any dividends you earn will be paid directly into your shares account, helping you build your savings while supporting our mission of providing affordable finance to all members .
Your savings with Acorn is in safe hands. We prioritise the security of your savings, offering you peace of mind that your money is managed safely.
Your savings, help us improve our services, ensuring fair and affordable finance is accessible to all. Any surplus generated is returned directly to our members as dividends, reinforcing our commitment to you and the community at large.
Your savings help fund loans for other members, promoting economic growth and financial stability within your area.
Your savings are safeguarded under the Financial Services Compensation Scheme (FSCS) up to £85000 in case of any unexpected financial troubles.
Saving with us helps build a long-term relationship. We understand your financial needs, making it easier for you to access affordable loans when you need.
You can easily start to save by having your Universal Credit, PIP, and Child Benefit paid directly into your Acorn account.
Simply access your funds in one place, transfer them to your nominated bank account, and benefit from faster loan processing times .
Joining Acorn and starting your savings journey is simple, with eligibility criteria designed to include and support our community.
Once your application to join is accepted, you will be asked to pay a one-time non-refundable admin fee of £2 to activate your membership. You’ll automatically be given a Regular Savings account, known as a shares account. To maintain membership, you only need to hold a minimum of £1 in your account throughout your membership.
The main eligibility criteria:
To find out if you are eligible to become a member of Acorn, you can visit our Post Code Eligibility Checker. Join the Acorn Family today and take the first step towards achieving your financial goals!
We also run special savings initiatives to encourage short-term saving habits and promote financial well-being. These saver accounts may have additional or alternative eligibility criteria, tailored to specific goals or groups.
Start your journey by completing our online membership application process here.
What you’ll need to submit your application:
Your National Insurance Number.
Personal details, Name / Address / Date of Birth etc.
Email address and phone number for quicker communication.
Start saving and earn rewards for building your financial future. Save £4/8* per month for three consecutive months, and we will match your savings total. The bonus is capped at £24.
Boost your savings with our Surplus Saver, designed to help you effortlessly save leftover funds before your next income arrives and enjoy a stress-free path to financial security.
Saving easily with our Regular Saver and enjoy financial peace of mind. Build a safety net for your future. No withdrawal limits and maintain £1 minimum balance for active membership.
Open a PrizeSaver account today! Save just £1 for a chance to win up to £5,000 in monthly draws—Save up to £200 and increase your chances of winning!
Set up a Junior Saver for your child or grandchild and help encourage saving habits early in life. Together, we can build the next generations of future saver.
Start saving early and build a magical holiday fund with flexible deposits up to £50 per month. Earn bonuses equal to 7% per annum on your savings.
Applications now closed.
Open Corporate Saver and deposit up to £60,000. Your contributions not only assist Acorn in supporting the local community but also allows you to earn dividends.
Our Uniform Saver account is here to help you stay ahead of school-year costs. From shoes and school bags to blazers and stationery, this account lets you save regularly throughout the year—making September easier on your budget. Applications now closed.
Open a Food Saver and earn rewards for your commitment to save. Save £5 per month from three consecutive months, and we will match your savings total. The bonus is capped at £15. To open a Food Saver you will need to be a member of Acorn and a participating Food Club/Pantry.
Deposits protected by FSCS.
Your eligible deposits with Acorn Community Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
Note: Acorn Community Bank may (and is likely to) have a maximum shareholding that is below the FSCS limit. The existence of the FSCS limit does not imply any right to deposit above the maximum shareholding set by you.
While individuals are eligible, certain organisations may not be eligible for compensation, please see the Scheme Information.
Financial Services Compensation Scheme Information for Acorn Community Bank.
For more information, please visit www.fscs.org.uk.
At Acorn Community Bank, members benefit from a dividend rather than a set interest rate. This dividend is determined by the profits generated by Acorn throughout the financial year. The board of directors proposes the dividend percentage, which is then approved during the Annual General Meeting (AGM) of Acorn Community Bank. Every member has the right to attend the AGM and cast their vote.
Certainly. Just like all significant financial institutions, we are protected by the Financial Services Compensation Scheme (FSCS). This scheme provides compensation to depositors if an organization cannot fulfil its financial commitments. You can learn more about this scheme here.
Additionally, we are authorized by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. This ensures that we adhere to strict trading conditions, submit our financial performance data to regulators every three months, and have our directors and senior staff thoroughly vetted by the regulatory bodies.
At Acorn Community Bank, we go beyond traditional lending by encouraging our members to save while they borrow. Each time you make a loan repayment, a small amount is set aside towards savings. This practice helps you build a financial cushion for the future. Once your loan is fully repaid, you’ll have a healthy savings pot, offering you greater financial security. Many of our members have successfully grown their savings with this simple yet effective approach.
Please see the below table for the required amount of mandated savings.
| Loan amount | Required locked savings | Frequency |
| Up to £500 | £2 | Per week |
| Up to £1000 | £3 | Per week |
| Up to £ 5000 | £4 | Per week |
| Over £5000 | £5 | Per week |
Withdrawing your savings is very easy. You can easily withdraw your savings through the Members Area or our mobile app. If you prefer other options, simply contact us by phone at 03030300147 or via email at office@acorncb.co.uk. Please note that during busy times Phone call/email requests can get delayed.
Withdrawal Requests made by 1:00 pm are processed on the same day, with funds transferred immediately to your designated account. Your funds should appear within 24 hours.
Weekend and Holiday Withdrawals: Requests submitted during weekends or holidays will be processed on the next working day.
Please note that if you have an active loan, there may be limits on the amount you can withdraw.
To maintain your membership, you must keep a minimum balance of £1 in your Share1 Regular Savings Account.