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Reports

Reports from our Financial Inclusion funding programme (2006-12) and Right Use of Money theme

A series of five annual monitoring reports to measure changing levels of financial inclusion in Britain

CHASM (The Centre on Household Assets and Savings Management) at the University of Birmingham has been commissioned by the Foundation to produce a series of five annual monitoring reports (2013-17) to measure changing levels of financial inclusion in Britain.

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Responsible lending in the high cost credit sector

Over the past three years a remarkable dialogue has been going on between lending companies in the rent-to-own sector (RTO), their customers, and representatives of credit reference agencies, debt advice agencies, and government departments. The conversation was initiated by a small community organising initiative on Teesside called Thrive which had been set up by Church Action on Poverty to enable local residents in areas of high deprivation to build the confidence and skills to tackle some of the issues facing them in their communities.

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How much does ‘free banking’ cost?: an assessment of the costs of using UK personal current accounts

This research study, by Dr John Ashton of Bangor University Business School and Professor Robert Hudson of the University of Hull, uses 17 years of data on ‘free banking’ current accounts, basic bank accounts, packaged current accounts and ‘other current accounts without overdrafts’. It explores the total cost to customers of current account use, and whether any distributional cross-subsidy exists between customers with different levels of income.

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Emotional relationships with money and financial behaviour: analysing the BBC Big Money Test

The aim was to analyse data collected via a BBC Big Money Test on-line survey, which went beyond financial capability approaches to the management of personal finance to examine individuals’ psychological and emotional relationships to their financial affairs …

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Can payday loan alternatives be affordable and viable?

The aim was to establish whether payday loan alternatives could be affordable and viable. An evaluation of a pilot scheme run by the London Mutual Credit Union showed that consumers preferred longer and cheaper payday loans and that, in the long term, it can be financially viable for credit unions to provide this type of product.

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Evaluation of ‘The Store’: a pilot Rent to Own scheme in County Durham

A pilot to develop a sustainable and transferable model to compete with weekly payment stores. A credit union, Prince Bishops Community Bank, would provide responsible lending at affordable levels to enable social housing tenants to access goods and provide a real alternative to expensive weekly payment stores. The credit union would purchase and provide the customer with the goods, recovering the money through weekly/monthly payments at rates around 33% less than the weekly payment stores…

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