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Burnley Savings and Loans (BSAL) is an independent lending company based in Burnley, England.It was founded by Dave Fishwick, [2] a local businessman, in 2011. [1]The scheme gained media attention after Fishwick's early efforts were captured in a series for Channel 4 in 2012, including his call for Parliament to reform the banking system.
He later opened Burnley Savings and Loans in September 2011 in Keirby Walk in the town centre using a peer-to-peer crowdfunding model, with "Bank on Dave" emblazoned on the front of the shop as an advertising slogan. [4] Fishwick's efforts were documented in the Channel 4 series Bank of Dave, [9] which aired two episodes in July 2012. [14]
A true bank has not yet been established and is actually Burnley Savings and Loans, a legal peer-to-peer lender. The capital demanded by the FSA was never raised and so the company is still in the process of getting a banking licence. Above the door is a sign saying "Bank on Dave", which avoids claiming that it is a bank [16] [17]
Savings and loan associations are financial institutions similar to banks that specialize in providing mortgage loans to home buyers, making loans from deposits usually gathered from the local ...
Vernon Savings and Loan (Dallas, TX), led by Don Dixon, which on resolution had 94 percent of loans non-performing; and; Columbia Savings and Loan (Beverly Hills, CA), led by Thomas Spiegel, was closed in January 1991 at the cost of $3.25 billion. [88] Especially publicized was the insolvency of Lincoln Savings and Loan Association, led by ...
As a result, a wave of local, federally-chartered savings and loans developed around the U.S. Backed by low-cost government funding, the S&Ls were able to offer long-term home loans at fixed ...
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The Burnley Building Society was founded as a permanent Building Society named the Burnley Benefit Building Society. The town had previously had "terminating societies" which were wound up once they had reached their goals. The earliest of these being the Hall Union Club prior to 1800 and Burnley Benefit Society in 1815. [3]