Poll suggests Rochdale shoppers see themselves as big spenders

A poll carried out at Rochdale Exchange Shopping Centre found that six in ten people who took part described themselves as big spenders rather than savers.

The survey formed part of a community visit by Manchester Credit Union aimed at encouraging conversations about managing money and building savings.

Manchester Credit Union spent three days at Rochdale Exchange Shopping Centre earlier this month, inviting shoppers to vote on whether they considered themselves to be one of the town’s biggest spenders or its savviest savers.

According to the organisation, 60 per cent of those who took part chose big spender.

The visit included appearances from the credit union’s bee mascot and was part of a wider programme of community outreach across Greater Manchester.

Mandy Wilcock, chief executive of Manchester Credit Union, said, “It’s been a brilliant few days, really engaging with local people about money matters in a fun way. While the big spenders won the vote, we also spoke to many shoppers with a real passion for saving, too.

“We’ve been serving Rochdale and Greater Manchester for a long time, and visits like this are how we stay connected to the people we’re here to help. If we can get someone thinking differently about their finances even just one conversation that’s a positive step towards greater money confidence.”

Manchester Credit Union is a not for profit financial co operative serving members across Rochdale, Manchester, Bury, Stockport, Tameside, Trafford, Bolton, Oldham, Salford and High Peak.

The organisation says it returns any surplus to members through dividends on savings or by investing in member services. It also operates a save as you borrow policy, which requires borrowers to build savings alongside loan repayments.

Ms Wilcock said, “Our Rochdale spenders might have won the day, but the reality across the UK is that most of us could do with saving a little more. A quarter of adults have less than £100 set aside, and one in six have nothing at all. What encourages us is seeing our own members turn that around. Thanks to our save as you borrow policy, many of our family loan holders are building a savings pot for the first time, often without even really noticing. Small steps, but they add up.”

The Rochdale event forms part of Manchester Credit Union’s Bee Smart with Money roadshow, which visits primary schools across Greater Manchester to help children learn about managing money through free educational drama sessions.