Purple Tuesday 2024, takes place on 12th November, is a day dedicated to encouraging businesses to improve their accessibility for disabled consumers. Local credit unions, including Wave Community Bank, play a vital role in fostering inclusivity and ensuring that everyone has equal access to financial services.
Understanding Purple Tuesday
Purple Tuesday raises awareness about the importance of accessibility. In the UK, approximately 14 million people are disabled, representing about 20% of the population. This demographic has significant spending power, estimated at £274 billion annually, highlighting the necessity for businesses to address their needs.
The Role of Local Credit Unions
Credit unions are uniquely positioned to support disabled individuals. Unlike traditional banks, credit unions are member-owned, meaning they are focused on meetings the needs of their members and community. Here are some ways Wave Community Bank is making strides in accessibility:
- Individualised Loan Assessment: Wave Community Bank takes an individual approach to loan applications. By looking at each application in its entirety—considering factors beyond just credit scores—Wave ensures that every member’s unique situation is taken into account.
- Financial Education and Support: Education is crucial for empowering disabled individuals to manage their finances effectively. Wave Community Bank provides Financial Webinars ensuring that everyone has the tools they need to make informed financial decisions.
- Website Accessibility: Wave Community Bank strives to make its online services accessible to everyone. Our website features an accessibility button to enhance user experience, ensuring that individuals with various needs can navigate our resources effectively. For more details, please refer to our Accessibility Statement.
- Community Engagement: Wave actively engages with local communities to understand the needs of everyone from all backgrounds to ensure that the voices of all individuals are heard in all decision-making processes.
Statistics Highlighting the Need for Change
- According to the Office for National Statistics, 93% of disabled adults say they have encountered barriers in everyday life, including financial services.
- A study by the Business Disability Forum revealed that 80% of disabled customers prefer to shop with businesses that are inclusive and accessible.
These statistics underscore the critical need for financial institutions to ensure their services cater to all individuals, regardless of their abilities.
How You Can Get Involved
This Purple Tuesday, consider how you can support inclusivity within your community and make a choice to bank with Wave Community Bank who prioritise accessibility so everyone can access financial services.
