Sodexo.com BANKING ON A FRESH START Pilot scheme agreed March 2006 to March 2007 Sentenced prisoners...

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BANKING ON A FRESH START

• Pilot scheme agreed March 2006 to March 2007

• Sentenced prisoners only

• No fraud charges

• Release date within 3 months

• Engaging with resettlement team/looking for work

• 6 applications per months

HOW DOES THE SCHEME WORK

Scheme tailored to prison needs

App form + ID/money laundering form

Accounts opened with zero balance

Prison ID used

Prison address used

Accounts opened prior to release

Accounts inactive until release

PROGRESS

2006 - 32 opened accounts

2007 – 241

2008 - 376

Scheme extended: release within 2 years

By Nov 2007 Co-op Bank had 21 more prisons

HOW WE MOTIVATE PRISONERS

Advertise scheme on Life Channel

Pre-release induction – scheme discussed

Budgeting and Money Management Course

Includes Attitudes to Money; Budgeting & Spending

Banking & Saving; Borrowing & Debt

Chapel course for prisoners & partners (2 days on finance)

Dedicated scheme co-ordinator

IMPACT OF PROJECT ON PRISONERS’LIVES

Research Paul Jones LJM Uni Nov 07 to Aug 08

Exclusion significant 84% had no bank account on entry

74.40% in or had been in financial difficulty

90.20% found it easy to open account in the prison

92.90% found no major problems using their account after release

IMPACT OF PROJECT ON PRISONERS’LIVES

Positive psychological + practical impact on prisoners’ lives

“If I hadn’t had the chance here, would not have got one [bank account] on the outside.”

“This might sound daft but I feel better as a person and I would like other prisoners to know that.”

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FOLLOW – UP RESEARCH DEC 2009

Focus group 107 ex-offenders who opened an account Aug 07 to Dec 07

Within 12 months 36 re-offended 33.6% compared to national rate 47%

Sentenced to under 12 months:39% re-offended compared to 59.9% nationally

Sentenced up to 2 years: 25% re-offended compared to 33.2% nationally

Age group 21 – 24 years: 25.9% re-offended compared to 41.3% nationally

Encouraging indicators but we must take utmost care when making any claims on impact.

FUTURE PLANS TO DEVELOP THE SERVICE

Offer a savings facility. Money sent from prisoner earnings to the bank.

Scheme extended to 2 year+ prisoners, IPPs and Lifers?

Software purchased through Ashden Trust Award for 20 computers. Creates banking scenarios. Prisoners can practise using ATM card/ deposit money etc.

Co-operative Bank’s Motivation For Partnership

LEADERSHIP AND PURPOSE - In 2005 a new vision and purpose for CFS was set out. Our long term aspirational vision is ‘to be the UK’s most admired financial services business and our purpose is to be a growing, pioneering financial services business delivering benefits to customers, members and communities through commitment to value, fairness and social responsibility’.

As part of the bank's commitment to social responsibility, its community strategy in 2005 included objectives to address financial exclusion and also to tackle re-offending. This, therefore, provided an ideal opportunity to combine the two objectives into one groundbreaking project.

Motivation For Partnership – My Personal Perspective

History of community links/community projects are important eg Big Issue Project

Co-op Arts Partnership with North West Prisons. Community displays of prisoners’ work sponsored by CFS

Positively motivated to help financially excluded minorities.

Genuine interest in researching their potential impact on the re-offending rates.

Brave step – could have been a PR disaster

Tips and Hope For The Future

Look at organisational structure for community links/project team. Speak to team leader/manager OR

Contact New Business Section and speak to team leader.

Establish contact with a named individual.

Explain your needs and secure commitment to help move the relationship forward.

In short , the key to success lies in fostering strong relationships with key individuals

The Future Opportunity

CFS presented the project evaluation report at a roundtable event in Dec 2008. The event was initiated by Unlock and has resulted in the British Bankers Association (BBA) encouraging the banking sector to develop a common approach to working with prisoners. This initiative is led by the Financial Inclusion and Capability Panel Working Group

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Sodexo.com BANKING ON A FRESH START Pilot scheme agreed March 2006 to March 2007 Sentenced prisoners...

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