Foster Carers

There are more than 60,000 foster carers in the UK helping to make a critical difference to vulnerable children in our society. 

You provide a safe, loving environment for these children, helping them to adapt to life’s challenges and oftentimes thrive. Yet for all of the value you bring improving the lives of these children, the sacrifices you make come with their own financial challenges. 

As self-employed people with sometimes inconsistent income, particularly when you are between periods of fostering children, it can be challenging for you to find the financial services you need.

How do we know this? Because we at Money Matters Community Bank our remit and social responsibility is to provide financial services to foster carers in the UK.

Who Are We?

Money Matters Community Bank is a financial co-operative which provides savings, loans and a range of financial services to its customers, who are members. It is owned and controlled by the members – we are owned by the people who use our services, so the emphasis is always on providing the best service to members.

We understand your needs and concerns, because among our almost 4,000 members are foster carers just like you. 
We understand that traditional High Street banks may not be quick to make loans to you when times are tough, because you are self-employed. We understand that during periods of transition between caring for foster children, you may need additional financial support to help you spread out costs in the short-term. 

The primary objective of a community bank or credit union is to promote sound financial management, by encouraging people to save rather than borrow in order to avoid debt. One of our loan products, for example, allocates part of any repayment to the member’s own savings account, so as the loan is paid off, the member accumulates savings. Over time our members build up savings and end the cycle of borrowing. We also offer a range of information and support for our customers in financial difficulties or with a poor credit history.

What We Do To Help

We offer products specifically to foster carers:


Loans for bedroom division, bedroom additions or other home improvement loans, to enable you to foster additional children.  Our loans are all low cost, with no set-up fees, no early repayment penalties and no minimum repayment periods.  Moreover, since your loan repayment comes automatically out of your monthly fostering payment, we can offer you affordable and highly-competitive interest rates on your loans.

Young Savers

Young Savers accounts for your foster children under 18 years of age.  These accounts can be opened for your foster children, and upon turning 18 these accounts can be transformed into adult accounts, providing them with their first adult account, which can be difficult for foster children to obtain due to complicated paperwork.

Prize Saver Accounts

PrizeSaver accounts, which provide the opportunity to save money for the future.  Every £1in your PrizeSaver accounts at the end of the month gives you one automatic entry into the following month’s PrizeSaver prize draw.  You get a maximum of 200 entries per month, which is equal to £200 or more in your savings account.  Every single month, one person wins £5,000, 10 people win £50, and 10 people win a £20 prize from among entrants in 14 different credit unions.


Savings payments deducted directly from your fostering payments, to help you automatically build savings and improve your credit. We also offer holiday savings accounts to help you save for future vacations. We also provide holiday loans for foster carers who need to spread out the cost of a vacation over a period of time.

Consider opening an account with us today. Money Matters Community Bank – a bank providing affordable products and services for foster carers, because we are owned in part by foster carers.

Why Choose Us?

According to Social Finance UK: “Access to fair, affordably priced financial services has consistently been shown as key to promoting social mobility, a thriving economy and a reduction in income inequality and poverty. Using these services can hugely impact the lives of individuals struggling with household expenses who lack alternatives to payday lenders or illegal loan sharks.”  Money Matters Community Bank exists to offer a sound alternative to high cost financing options.  We charge no set-up fees, we offer loans with competitive affordable rates, and we require only a £5 initial deposit to open an account.  Most importantly, at Money Matters Community Bank, we believe in being transparent and working with our customers on a ‘Journey To Yes’; we don’t judge and work closely with you to help you take the steps to secure the loan or financial services you need to meet the needs of the vulnerable children you look after.