Preparing For CHANGE An Introduction By Sue-Jane O’Keefe

CHANGE is a CDFI: Community Development Finance Institution Housing Association Partners are: Circle Anglia, East Thames, Hyde Housing, Genesis Housing Group, Family Housing Group, Orbit Bexley Housing Association, Threshold, Horizon, Wandle Housing Association, Metropolitan Housing Trust, Mosaic Housing Association, Gallions Housing Association, London & Quadrant Other Partners are: Barclays, Lloyds TSB, Esmee Fairbairn, City Parochial Foundation, FSA What is CHANGE?

OUR MISSION “To ensure social housing residents have better access to financial information, support, affordable loans and services to help them improve their finances and make informed decisions” In summary ….. Financial Inclusion

Our Objectives Tackle Financial Exclusion amongst social housing residents in London To have a sustainable business to guide people into mainstream financial services We will operate across London To take customers out of the jaws of Loan Sharks

Our Products The ABC of CHANGE Finance CHANGE: Advice CHANGE: Banking CHANGE: Credit CHANGE Financial Building Blocks Advice BankingBenefits CreditConsolidationCapacity

ADVICE A trained “Financial Inclusion Advice Officer” to provide: l General money advice l General assessment of residents’ financial circumstances using a “Financial Health Check” l Assistance with budgeting l An Action Plan – providing options, advice and recommendations l Signposting/referrals to specialist agencies and organisations

BANKING Change will: l Assist with account opening l Encourage savings l Help with Direct Debits l Money Management advice l Support with understanding financial literacy

CREDIT A trained “Financial Inclusion Lending Officer” providing a personal loan service, offering: l Affordable loans from £50 to £2,500 l Repayment period of up to 2 years l We will lend for:  Crisis  Home  Debt consolidation  Back to work expenses

The Problem of Financial Exclusion 1.5 million households without basic financial products 2-3 million adults with no bank account 7.8 million victims of financial exclusion

Our Targets 6,000 Customer Contacts 1,200 Advice Interviews held 2,400 Lending Interviews held 520 Loans approved £0.25 million lent out

OUR CUSTOMERS RSL residents and through the partnership potentially 175,000 households across London Those in need This year we are piloting our services with a view to extending this to our wider customer group.

How to contact us Call the Change Hotline on: us: Contact us via a partner housing association officer

Thank you for listening!