Important new work to help local residents and tenants deal with debt issues is underway thanks to the launch of a key new post.
Jon Leigh has been appointed Financial Inclusion Officer, a new innovative role which will see him work on behalf of Erewash Borough Council, Amber Valley Borough Council and Derbyshire Dales District Council.
Jon, who took up the post in April, is working to develop and implement initiatives to promote financial inclusion across the three areas. One of his main aims will be to work in partnership with the key stakeholders – the three local councils, banks, Third Sector financial organisations, registered social landlords, housing associations and other support agencies.
Financial inclusion is a nationwide drive to help the many people, particularly those on low incomes, who cannot access mainstream financial products like bank accounts and low cost loans.
In the current economic climate with debt levels continuing to cause serious concerns, work to support individuals and families is crucial. Families living on low incomes make up the majority of those who are financially excluded, with research showing that many are forced to consider using doorstep lenders to help make ends meet when they are unable to obtain mainstream credit or other financial products.
Councillor Carol Hart, Erewash Borough Council’s Deputy Leader and Lead Member for Community Engagement, says:
“We welcome Jon’s appointment to the new post and I would urge any organisations in Erewash which are working for financial inclusion in any way to get in touch. We are already working hard with partners to tackle the very real problems that some people in this area face when they are excluded from financial services.
“These problems are most often faced by the most vulnerable members of our society, but in the current economic climate, and with more people facing the prospect of losing their jobs, we know there are also many others now facing financial challenges.”
Jon, who is based at Ilkeston Town Hall, says:
“I hope, by working with key partners, to help make credit and other financial products more accessible in the future to those who are presently financially excluded and I will work with housing associations on promoting financial capability for their tenants.”
Note to Editors
- The implications of financial exclusion can be wide-ranging, with many people failing to learn about financial products available. Families can be locked in a cycle of poverty and exclusion, or turn to high cost credit or illegal lenders resulting in greater financial strain and unmanageable debt.
- The drive for ‘financial inclusion’ sees key partners work to improve knowledge, prevent debt building up, help residents to manage their money better and help them save.
Financial Exclusion can manifest itself in many ways:
- Lack of access to a bank or building society account
- Lack of access to necessary financial services and credit, such as insurance (e.g. Home contents) and pensions.
- Limited access to services which could improve an individual’s financial situation, such as advice or education.
- Arrears of rent, utility, council tax, TV licence payments
- Disconnection from utilities
- Reliance on credit from sources other than high street banks
- An inability to save even small amounts
