Financial Inclusion Latest News
Barclays Community Finance Fund
The Barclays Community Finance Fund for 2011/12 is open to organisations providing affordable credit to those who may otherwise access high cost credit or resort to taking out illegal loans.
The £250,000 fund builds on 6 grants made last year and forms part of Barclays’ ongoing commitment to improve financial inclusion, enabling everyone to have access to appropriate and affordable financial services in the UK.
The delivery of the Fund is being administered by Transact, the national forum for financial inclusion.
The Fund, which can be applied for via a nominations process, will be divided into several smaller grants (of approximately £30,000-£50,000) and distributed to those organisations that best demonstrate how its use will help meet one or more of the Fund’s objectives.
Those projects selected will be funded to deliver services over the course of a 12 month period between June 2011 and May 2012.
The deadline for applications to the 2011/12 fund is March 25th 2011. For further details on the Barclays Community Finance Fund and the nominations process, or to download nomination and proposal forms, please visit http://www.transact.org.uk/cff.
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Money and Debt Advice Materials Available
Middlesbrough Partnership's Financial Inclusion Group has been working on the development of materials to provide details of where to get Financial Advice in Middlesbrough on a variety of issues.
As part of this a series of Financial Awareness Training Courses were arranged for staff from partner organisations. .
To support this training the group have produced the following:
- A simple concise booklet giving details of 'Where to get advice in Middlesbrough on benefits, Tax Credits, debt and money issues.
- A6 information cards that can be handed out to residents
- Coasters giving contact details of where to get help.
The A5 booklet is attached to the right of this page and can be used as a reference tool to signpost communities to help for a variety of issues.
We are hoping to ensure the A6 cards and coasters are available in a variety of locations accessed by communities (community centres, bars, cafes, reception areas etc) and are also provided to staff that work with residents on a day-to-day basis.
If you would like some of these for your building or staff then please contact Holly Irvine on 01642 729269. Examples are attached to the right of this page for information.
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Free Financial Awareness Training was recently offered to all partners within Middlesbrough developed. This course was aimed at individuals who come into regular contact with residents and was delivered by John Cottey from the Citizens Advice Bureau. More than 220 staff from partner organisations attended the course.
Course content focused on:
- The warning signs of potential debt problems
- Dealing with debt
- Choosing Credit
- Savings
- Benefits Advice
- Energy Best Deal / Warmth Support Schemes
- Signposting Middlesbrough Communities to help/support available for all of the above issues
The course gave an overview of the issues above and provided delegates with information around where and how to signpost individuals for help and support. The course programme is attached for information. Following attendance on the course all delegates were provided with information materials to enable them to effectively signpost residents.
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Transact - The National Forum For Financial Inclusion
Transact is the national forum for financial inclusion, a movement of over 1600 organisations and individuals dedicated to practising and promoting financial inclusion for the benefit of individual people experiencing hardship and poverty as a result of financial exclusion.
Transact was developed to promote best practice, support cohesion across the financial inclusion sector, as well as to raise awareness of the need for the expansion of financial inclusion work within other sectors.
Join Transact for FREE to be a part of it! For more information visit the website www.transact.org.uk
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Business Debtline
The 'Business Debtline' agency is an organisation which helps people with business debts. They are a registered charity providing free advice to small businesses.
The advice line number is 0800 197 6026. More information about them, plus resources for small businesses can be found on their website: www.bdl.org.uk
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Citizens Advice Bureau Publish Report on Debt Collection Practices
The Citizens Advice Bureau have recently published a report on debt collection practices.
To access the report please click here. ______________________________________________________________________________
Money Advice and Guidance
For money advice and information on preventing repossession please contact Middlesbrough Council's Money Advice Service. This service deals with multiple debt - priority and non-priority. Advisors help clients/debtors work out how much can be paid to their creditors, negotiate on the client's behalf and can also attend court with client/s if required. Please click here for more information.
Contact details: Money Advice Service, Trading Standards, 5 Floor, Vancouver House, Gurney Street, Middlesbrough, TS1 1QP. You can also contact via telephone: 01642 728448 between 8.30 am - 4.30 pm (Monday to Friday) or email: money_advice@middlesbrough.gov.uk.
Middlesbrough Council and its partners want to make sure that information and advice is available to everyone during these difficult financial times. The Council has developed a sections of its website to provide advice, information and offers to help save you money. To access the site please click here
Financial Inclusion Group sign up to Better Banking Campaign
Middlesbrough Partnership's Financial Inclusion Sub Group have signed up to support the Better Banking Campaign. The Better Banking campaign is a coalition of organisations who want to address the problem of financial exclusion: the lack of fair access to financial services and credit. The group is campaigning for full financial disclosure by financial institutions, a cap on unfair credit rates for those who cannot afford them and obligations on banks to demonstrate fair and equal access to credit. Better Banking is led by Urban Forum and the Association of Chief Executives of Voluntary Organisations (AECVO).
For more details see the coalition's website: http://www.betterbanking.org.uk
Northern Rock Foundation supports Financial Inclusion projects
The Northern Rock Foundation has funding available for projects seeking to tackle Financial Exclusion in the North East of England through it's 'Managing Money' grants programme.
For more information please click here. Further details can be found on the website: www.nr-foundation.org.uk
Preventing Repossessions Awareness Campaign
In February and March 2010 partners from Middlesbrough Partnership's Financial Inclusion Group supported an awareness raising campaign to prevent repossessions. This campaign was sponsored by the Department for Communities and Local Government and its aim was to raise awareness of debt related issues, in particular mortgage arrears/repossession.
The campaign ran over a four week period (commencing 16 February 2010) and included a series of local face-to-face events that provided information and advice to communities. For full details of venues and times please click here.
Middlesbrough Partnership Supports the Launch of Pioneer Credit Union
In January 2010 Middlesbrough Partnership supported the launch of Pioneer Credit Union through its work on financial inclusion with key partners including NHS Middlesbrough, Community Ventures Ltd and the Financial Inclusion Champions (supported locally by the Fabrick Group).
The creation of the Pioneer Credit Union followed the merger of four of the town’s existing nine credit unions. The official launch of Pioneer was held on 20 January 2010 in Middlesbrough Town Hall Crypt. Approximately 100 people attended the launch from all sectors of the Partnership.
Credit Unions provide a real alternative to people who are financially excluded, offering low-cost loans and providing a means of helping people to save for the longer term. It is hoped that the new union – motto: Helping people to help themselves – will help residents save money and avoid crippling debt.
For more information please click here.
Loan Sharks Cost UK's poorest £29m This Christmas
Around 100,000 of the UK's poorest families could be spending 2010 crippled with an estimated combined debt of around £82 million after borrowing money from loan sharks to pay for Christmas 2009, according to The Real Cost of Christmas , a report commissioned by housing provider, Circle Anglia. The report, authored by the Financial Inclusion Centre, estimated that a record £29 million in illegal doorstep loans were taken out over the holiday season.
For more information click here.
To access papers and further information on the Middlesbrough Partnership Financial Inclusion Group please click here.