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CHANGE is a CDFI:
Community Development Finance Institution
Housing Association Partners are:
Circle Anglia, East Thames, Hyde Housing,Genesis Housing Group, Family Housing Group,
Orbit Bexley Housing Association,Threshold, Horizon, Wandle Housing Association,
Metropolitan Housing Trust,Mosaic Housing Association, Gallions Housing
Association,London & Quadrant
Other Partners are:
Barclays, Lloyds TSB, Esmee Fairbairn, City Parochial Foundation, FSA
What is CHANGE?
OUR MISSION
“To ensure social housing residents have better access to financial information,
support, affordable loans and services to help them improve their finances and make
informed decisions”
In summary …..
Financial Inclusion
Our Objectives
Tackle Financial Exclusion amongst social housing residents in London
To have a sustainable business to guide people into mainstream financial services
We will operate across London
To take customers out of the jaws of Loan Sharks
Our ProductsThe ABC of CHANGE Finance
CHANGE: Advice
CHANGE: Banking
CHANGE: Credit
CHANGE Financial Building Blocks
Advice
Banking Benefits
Credit Consolidation Capacity
ADVICE
A trained “Financial Inclusion Advice Officer” to provide:
General money advice
General assessment of residents’ financial circumstances using a “Financial Health Check”
Assistance with budgeting
An Action Plan – providing options, advice and recommendations
Signposting/referrals to specialist agencies and organisations
BANKING
Change will:
Assist with account opening
Encourage savings
Help with Direct Debits
Money Management advice
Support with understanding financial literacy
CREDIT
A trained “Financial Inclusion Lending Officer” providing a personal loan service, offering:
Affordable loans from £50 to £2,500
Repayment period of up to 2 years
We will lend for:
Crisis
Home
Debt consolidation
Back to work expenses
The Problem of Financial Exclusion
1.5 million households without basic financial products
2-3 million adults with no bank account
7.8 million victims of financial exclusion
Our Targets
6,000 Customer Contacts
1,200 Advice Interviews held
2,400 Lending Interviews held
520 Loans approved
£0.25 million lent out
OUR CUSTOMERS
RSL residents and through the partnership potentially 175,000
households across London
Those in need
This year we are piloting our services with a view to extending this to our
wider customer group.
How to contact us
Call the Change Hotline on: 0208 535 2960
Email us: [email protected]
Contact us via a partner housing association officer