30 abr 2001 año - Financial Inclusion Newcastle Initiative

Descripción:

Citizens Advice Newcastle has initiated a major new external initiative by creating a paid post to employ a worker in collaboration with Financial Inclusion Newcastle (FIN) to deliver money advice and training throughout credit unions in selected wards in the west of Newcastle. The initial contract is for three years, and if successful, the project is expected to extend to all west city wards.

Citizens Advice Newcastle's partnership with FIN began in April when the designated Community Money Advice Worker took up the post. This financial initiative, which follows research by the Sustainable Cities Research Institute at Northumbria University showing that 95% of households in the Inner West of Newcastle were excluded from financial services, received funding from the European Regional Development Fund, New Deal for Communities, and Reviving the Heart of the West End. The aim is to address financial exclusion through the development of four previously established Credit Unions.

Credit Unions offer basic financial services, and FIN's first task has been to raise their profile by relocating them to shop front premises. Building work is progressing, and Credit Unions have started to move into their new locations, leading to initial referrals from FIN and the Credit Unions. To maintain close ties with the project, Citizens Advice Newcastle establishes regular outreach money advice sessions at the new premises in Cruddas Park early in 2003. Meanwhile, referrals are also being received from the Cruddas Park Citizens Advice Newcastle office and the Chat Shop, both within the area covered by the Credit Unions.

Citizens Advice Newcastle has formed links with the Wise Group, delivering financial literacy sessions to unemployed groups in the area. Significant effort has been dedicated to developing policies and procedures, especially regarding the unique "Special Loans" of up to £500, available to clients at Credit Union rates of interest, underwritten by Lloyds TSB. With most groundwork complete, Citizens Advice Newcastle looks forward to further developing the service within the project over the coming year. Citizens Advice Newcastle acknowledges Geraldine Messenbird Smith from FIN for administrative support and Ian Poole for supportive line management.

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