Bank of Dave

Lore & Background

Burnley Savings and Loans was established by Dave Fishwick after the 2008 financial crisis, as he believed traditional high street banks were not lending enough to people and small businesses and were viewed negatively due to a 'bonus culture'. Fishwick personally underwrote all loans and assessed risk by studying customers' business models and repayment plans. Within six months, the enterprise turned a profit, which was donated to charities including local food banks and community centres. By 2022, BSAL had lent over £27 million to thousands of businesses and individuals, primarily in Lancashire and northern England.

Reader's Guide

Bank of Dave represents a grassroots response to perceived failures in the UK banking system following the 2008 financial crisis. Its significance lies in demonstrating an alternative lending model focused on local communities rather than shareholder profit. The enterprise's media coverage, including a Channel 4 series and subsequent Netflix films, brought its story to a wide audience and amplified Fishwick's lobbying efforts. Fishwick has continued to press Parliament for banking reform, gaining support from politicians such as Chuka Umunna MP and Steve Baker MP. The 2017 application to become a regulated bank, 'The Bank of Dave', marked an attempt to expand its reach. The legacy of Bank of Dave is tied to its role in public discourse about banking ethics, local lending, and the possibility of community-focused financial institutions.

Did You Know?

• Dave Fishwick personally underwrote all loans made by Burnley Savings and Loans.
• Within six months of trading, BSAL returned a profit and donated it to charities including food banks and community centres.
• The series 'Bank of Dave: Fighting the Fat Cats' won a BAFTA Scotland Award for Best Factual Series in 2013.
• BSAL applied in 2018 to become a UK regulated bank called 'The Bank of Dave'.