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The Department for Work and Pensions (DWP) has appointed CIH to build a team of Financial Inclusion Champions to work within the social housing sector. Over 70% of people without a bank account are social housing tenants, and the government has identified housing professionals as a vital link between consumers and potential providers.
CIH will recruit two Financial Inclusion Champions, to work with housing organisations, local councils and financial providers to develop basic bank accounts, savings and loans. The Champions will also improve tenants' access to debt advice, help encourage greater habitual saving and increase the numbers who hold home contents insurance. The two posts will be funded by DWP until 2011.
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Kitty Ussher, DWP Minister with responsibility for financial inclusion, said: "The Government is committed to helping the poorest members of our society gain access to services, such as basic bank accounts, safe saving, home contents insurance and affordable loans that will put their finances on a more secure footing.
"It is vital that we work with organisations like the Chartered Institute of Housing, who come into daily contact with some of the people we want to reach so are well placed to provide the advice, support and services people need to improve their financial situation."
Sarah Webb, CIH Chief Executive, said: "CIH is proud to have been chosen to help spearhead the government's work to improve financial inclusion for social housing tenants. We have an excellent track record of working with housing organisations to promote financial capability and Sharon Wheeler, our current Financial Capability Advisor, will take this work forward when she is appointed to lead the Financial Inclusion Champions team.
"CIH is due to make a further announcement in the next few weeks about how it plans to strengthen its team of Financial Capability Advisors with support from other stakeholders."
(GK/JM)
