|So What Are We Doing|
Affordable Credit and Banking Services
Making sure Rotherham's most vulnerable individuals can access affordable credit and banking services is a key priority for the team. Partners, Front Links Workers or anyone working with financially excluded individuals might be interested in some of the following initiatives.
Credit Crunch Loans -This scheme is to provide loans to the residents of Rotherham, who are in or about to go into financial hardship including mortgage arrears, rent arrears orother financial difficulties. Borrowers would also be given access to a competitive saving scheme.
Loans* are available up to £1,500 per successful household, although this limit can increase to £2,500 in exceptional circumstances. Loans will be provided for periods of up to two years at an interest rate 19% APR. Currently handled by Rothersave Credit Union
Growth Fund - Provides affordable loans to financially excluded people. Currently being handled in Rotherham by Laser Credit Union.
Rent in Advance - This is a partnership between RMBC homeless section, ROBOND and Laser Credit Union to provide bonds and loans for homeless people to access private rented accommodation.
Face to face debt and money advice is key to helping people deal with and overcome financial problems. A number of agencies in Rotherham are working hard to make these services available to vulnerable individuals free of charge. Some of the initiatives we've been involved with are listed below.
Financial Inclusion Fund - Funds have been made available from the government to recruit and train debt advisors. Rotherham Citizen's Advice Bureau has been able to employ staff to help people with their debt problems.
Advising on Debt training course - This course, to be run through Rotherham Advice and Information Network (RAIN), is accredited through the National Open College Network. Details of the next available course can be found on the RAIN website.
Financial capability learning opportunities
2010 - Partnership with rent arrears officers. Providing conditional financial capability training sessions for first time residents.
Financial capability sessions - This is a partnership with Barnsley CAB, Rotherham's Children's Centres, Laser Credit Union and Rotherham CAB to deliver financial capability training sessions to residents of Chesterhill area in Rotherham.
Financial Services Authority (FSA)
Now let's talk money campaign
|Last Updated on Tuesday, 02 March 2010 13:41|