Councils benefit from financial inclusion

A new report from the LGA sets out a strong case for local authorities to support financial inclusion activity. ‘From Recession to Recovery: The importance of personal finances’, uses a collection of case studies to show how financial inclusion services have had a hugely positive impact on peoples’ economic and emotional wellbeing and also benefitted the authorities concerned.

The report recommends that Councils support the provision of free debt advice, access to and information on credit union loans, advice on opening basic bank accounts, and access to affordable credit.It highlights how these services help residents meet their obligations to both the council and other agencies and help reduce the strain on local authority services.

The report advises that councillors and local authorities approach the ‘Financial Inclusion Champions network to help them improve the services they provide.

For more information and reaction from the Association of British Credit Unions Limited (ABCUL) see

www.abcul.org/page/news.cfm#707