EUKN - European Urban Knowledge Network - Community Finance and Learning Initiative

Community Finance and Learning Initiative

Introduction

Describes the Community Finance and Learning Initiative Pilots which set out to test the delivery of services aimed at tackling financial exclusion in deprived communities.

Problem

The provision of financial services to address problems of financial exclusion of people living in deprived neighbourhoods.

Description

This evaluation:

summarises some of the key effective practice during the Community Finance and Learning Initiative pilots which set out to test the delivery of services aimed at tackling financial exclusion in deprived communities; and
outlines lessons on initial planning and development, marketing to implementation, and evaluation.

Approach

Project delivery involved a range of methods including:

raising awareness and improving access to financial education and training through workshops;
building financial literacy skills through training modules, workshops and accredited courses;
personal money-management advice and debt counselling, employing outreach workers and trained volunteers;
supporting access to financial services through one-to-one personal advice sessions;
information and training for intermediary organisations; and
providing access to finance for micro-enterprise through signposting activities, identification of potential funding sources, developing links with organisations working with micro-finance.

Results

This document demonstrates that:

dedicated support can help improve access to education and training and provide support for financial issues;
embedding these activities in organisations that have a high profile in local communities and are trusted by the population is essential; and
a holistic service works best, coupled with local, visible and credible public presence.

Beneficiaries

People suffering from financial exclusion.

Resources used

‘Objective professionals’ with financial knowledge, access to learning and training facilities, availability of and access to basic bank accounts.

Contact info

Department for Education & Skills (DfES)
info@dfes.gsi.gov.uk
Ms Sandra Calvete, tel. +44 114 259 4113

Project start date

01/03/2002

Links

Department for Education & Skills (DfES)ECOTEC Research and Consulting

Evaluation of the Community Finance and Learning Initiative and Saving Gateway Pilots (PDF. Eng, 425KB)

Lessons learned from the Community Finance and Learning Initiative pilots (Word, Eng, 73KB)

Document type

case

Themes

Urban Policy > Social inclusion & integration > Quality of life

Keywords

Financial inclusion