Financial Inclusion in Leeds Dave Roberts Leeds City Council
Initiative started early 2003 Research Base Survey of 410 residents living in poorest neighbourhoods in 2004 Repeated in 2010 with 602 interviewees Additional sample of 300 from ‘Mr & Mrs Leeds Average’ locations Origins of the initiative
Savings
Indebtedness
Purpose of borrowing Borrowing to fund living expenses –fuel, food, clothing etc – or pay off other debts 23% (2004), 42% (2010) Payday Loan Debts –30% live in SOA’s – 10% most deprived –42% yr olds – payday loans
Economic Impact Study Conducted 2009 by Salford University –Increased Disposable Income £26m –Improved health through advice: 41% –Reduced stress through advice: 67% Research widely disseminated
Advice Services New Advice Contract – 3 years Telephone Gateway – One number for advice services Children Centres –Advice service in 13 centres GP Surgeries & Mental Health Outreach –Advice services in 21 surgeries –11 mental health outreach
Advice Services Contract value £1.6m Financial YearBudget change 2010/11No change 2011/122% cut 2012/132%cut 2013/14No change 2014/15No change 2015/168% cut
Your Loan Shop Phase 2 – Replicate Facility in One Stop Centre
Rent to Buy Gift Card Scheme –Currys, Argos/Homebase, House of Fraser, Debenhams – Discounts ave. 5% Loans/Savings from credit union
Your Homeware Shop
Payday Loan Leeds Credit Union Handiloan
Housing MABS Project Money and Budgeting Support Pilot project 3 years ago 3 full time credit union staff seconded to Housing Leeds (for 3 years)
School Savings Clubs
Fareshare and Foodbanks Local Welfare Support Scheme –Link with Fareshare and foodbank network School Breakfast Clubs –Bulk food delivery to clusters of schools
Communications Campaign
Contact details Further information Leeds City Council Financial Inclusion Team (0)