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 ProductsThe ABC of CHANGE Finance

CHANGE: Advice

CHANGE: Banking

CHANGE: Credit

CHANGE Financial Building Blocks

Advice

Banking Benefits

Credit Consolidation Capacity

ADVICE

A trained “Financial Inclusion Advice Officer” to provide:

General money advice

General assessment of residents’ financial circumstances using a “Financial Health Check”

Assistance with budgeting

An Action Plan – providing options, advice and recommendations

Signposting/referrals to specialist agencies and organisations

BANKING

Change will:

Assist with account opening

Encourage savings

Help with Direct Debits

Money Management advice

Support with understanding financial literacy

CREDIT

A trained “Financial Inclusion Lending Officer” providing a personal loan service, offering:

Affordable loans from £50 to £2,500

Repayment period of up to 2 years

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: 0208 535 2960

Email us: Change@lqgroup.org.uk

Contact us via a partner housing association officer

Thank you for listening!