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Case study
Toynbee Hall - Services Against Financial Exclusion (SAFE)
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In a nutshell
It's hard to imagine what our financial strategies would be like if we didn't have bank accounts, pension plans or insurance cover available. But this is the reality for many people in the UK who have no access to even the most basic products. For others, previous negative experiences or financial literacy excludes them.
Services Against Financial Exclusion (SAFE) is an innovative project dedicated to providing increasing financial capability and promoting financial inclusion.
SAFE is a mobile resource working with the most vulnerable and hard to reach members of society, people who have been homeless, refugees, long-term unemployed, offenders and ex-offenders. For these people, financial exclusion is just one of the many forms of social exclusion they face.
Barclays involvement
SAFE has built relationships with partner organisations and usually meets with clients on partners' premises. Through specialist training given to staff in partner organisations, they are able to continually increase the number of people they can help.
SAFE runs financial education workshops in hostels, day centres and employability projects to help people increase their financial capability with practical help on budgeting, banking, saving and borrowing.
Workshops are tailored to the needs and interests of each group so everyone who attends will leave with an understanding of the importance of financial education in their daily lives.
Workshops are also run to provide training for staff members in partner organisations so they can learn about access to banking and delivering financial education.
Results
The SAFE project worker now visits the Crisis Skylight Centre once a week, this has led to an increase in the amount of people the Skylight centre is able to see and therefore help.
Workshop attendances are growing all the time, so we can see the effect SAFE's work is having by this alone. Between December 2005 and February 2006, SAFE ran 12 workshops for prospective clients with over 100 attendees.
Ongoing commitment to financial inclusion
Barclays funding continues to help train more staff in partner organisations, provide more workshops and ultimately helps increase the financial capability and inclusion of the more vulnerable members of our society.
A core part of the work since the start of SAFE has been helping disadvantaged people in Tower Hamlets and beyond to access vital banking services. Having a bank account is usually a prerequisite for employment, and the ability to use things like direct debit can save money on bills and help with budgeting. Plus, the introduction of state benefits paid by Direct Payment has also increased the need for basic banking services.
SAFE tailors the account opening service to these clients - some need simple advice about where their identification will be accepted, others need intensive support to fill in forms and go into a bank. From December 2005 to February 2006, this one to one service has resulted in 57 previously financially excluded people making an appointment and 35 becoming clients.
Barclays is continuing to talk to SAFE about future projects.
See also
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