Jocelle Lovell - Project Manager Wales Co-operative Centre … Events/TAI 2013/Jo Lovell... ·...

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Jocelle Lovell - Project Manager Wales Co-operative Centre [email protected] 02920 556193/07787437712

Transcript of Jocelle Lovell - Project Manager Wales Co-operative Centre … Events/TAI 2013/Jo Lovell... ·...

Page 1: Jocelle Lovell - Project Manager Wales Co-operative Centre … Events/TAI 2013/Jo Lovell... · 2013-04-17 · Jocelle Lovell - Project Manager Wales Co-operative Centre Jocelle.lovell@walescooperative.org

Jocelle Lovell - Project Manager

Wales Co-operative Centre

[email protected]

02920 556193/07787437712

Page 2: Jocelle Lovell - Project Manager Wales Co-operative Centre … Events/TAI 2013/Jo Lovell... · 2013-04-17 · Jocelle Lovell - Project Manager Wales Co-operative Centre Jocelle.lovell@walescooperative.org

Welfare Reform

• Welfare benefit reform will mean that those on state

benefits will see a reduction in income and fundamental

changes in the way they receive their income

• More people with less money

• Both working and non working households will be affected

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Potential Impact

• Increase rent arrears

• Increased evictions across private & social housing

• Higher demand on public services i.e. health,

homelessness

• Higher demand on third sector support & advice services

• Increase in people using payday loans and illegal money

lenders

• More people at risk of financial abuse.

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Financial inclusion

• More important now than ever before

• Enabling people to manage their money

• Access to appropriate & responsible financial services

• Empower people to take control of their lives

• Providing people with information to make informed

choices.

• Understanding the consequences.

• Protecting & supporting the most vulnerable in society.

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What can we do?

• Raise awareness of welfare reform (forums, accessibility)

• Develop partnerships to support tenants/service users

• Sign post to appropriate/qualified advice

• Sharing knowledge & best practice

• Financial capability & access to services

• Up skill support workers to meet changing needs of

service users??

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Projects that can help.

• Tackling Homelessness through Financial

inclusion (THFI)

• Money Made Clear Wales

• Work It Out.

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THFI

To support Landlords and Tenants to

maintain tenancies using a Credit Union

Rent Account

So preventing homelessness…encourage

people to engage in financial inclusion

support and access appropriate &

responsible financial products and

services.

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How

Project team –

• Facilitating partnerships between LA’s, private landlords, tenants & credit unions

Online resources -

• http://www.walescooperative.org/thfitoolkit

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Focus on the private rented sector

(PRS) ……….why? • Estimated that 1 in 5 households will be privately

renting by 2016

• PRS tenants don’t benefit from the support that

others do

• PRS tenants are not easily accessed

• PRS has less interaction with between tenant &

landlord

• Under UC private landlords will no longer be paid

under safeguarding

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Current Practice

LA pays housing

benefits

Tenant receives

Benefit

Household

Priorities

Rent Loan

Energy

Bills Food

Other

Items

Other income

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Proposed Model

Benefit is paid Credit Union Rent

Account

Benefit paid to

Landlord by CU

Tenant accesses CU

Benefits

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Benefits to Landlords

• Helps Protect Rental Income

• Mitigates against costly arrears/eviction process

• No need for Tenant Arrears or Safeguard

Assessment

• No risk of overpayment

• Helps maintain tenancies

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Benefits to Tenants

• Supports budgeting

• Credit Union benefits:

– Affordable Credit

– Savings

– Advice/Support

• Mitigates against high cost credit and Loan Sharks

• Constant through Welfare Benefit Reform

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Universal Credit

One monthly payment in

arrears

‘Household’ receives Benefit

Household Priorities

Rent Loan

Energy Bills

Food Other Items

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Moneymadeclearwales.com

• The website that combines a Financial Information Site

and Financial Capability Hub.

• The Financial Information Site will allow easy access to

the tools, advice and support needed to break down the

barriers to financial exclusion.

• The Financial Capability Hub is a members area of the

website which is a powerful resource for use by those

organisations involved in the promotion and support of

Financial Inclusion. Here members can share information

and resources and communicate via an online forum.

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Helping people to help themselves.

WEBSITE FEATURES CAPABILITY HUB INFORMATION SITE

Loan Comparison Tool Resources Your Money

Different Loans Info Case Studies Savings

Your Stories Newsfeed Loans

Webinars Info Sharing Debt Advice

Q&A Q&A

Useful Help

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Group work!

Split into 3 groups discuss pro’s & con’s of the

project and feedback the following:

What you like about the project

Areas you think can be improved

What action you will take to support each project