PHS Community Services Society (604) 683-0073 info@phs.ca

Pigeon Park Savings

92 E Hastings St. • (604) 678-8276

Pigeon Park Savings

 

 

For information on opening an account, our hours, and more, please click here.

Partners
VanCity, BC Housing

Pigeon Park Savings is more than a bank. Our low-threshold strategy encourages saving, promotes financial responsibility, and even fosters a sense of citizenship within our community. Residents can be in control of their finances, receive advice, and take steps to become financially stable, all without relying on predatory loan sharks or lenders. This is made possible by a partnership with VanCity bank, and land provided by BC Housing.

Access to basic banking services is an often-overlooked component of social participation. Because thousands of Downtown Eastside residents lack the requirements for opening accounts with conventional banks, many turn to exploitative payday lenders and cheque-cashing services. The result is a pattern of costly exclusion.

By removing the barriers to opening accounts that are most problematic for our community and charging only a low $5 fee, we help low income people keep more of their money.

Marginalized individuals without identification feel unwelcome in conventional banks, but PPS has overcome this barrier for over 4000 disadvantaged people. Our financial aid workers, trained in mental health and addictions, provide low cost banking services in a welcoming, respectful and supportive way. Downtown Eastside residents feel comfortable when they’re banking at Pigeon Park and we believe that’s one of the most important reasons it works. Because our tellers take the time to listen to our members and understand their needs, Pigeon Park is able to provide financial consultation and education in addition to basic services like taking deposits and cashing cheques.