29 March 2010
Two Castles helps its residents to balance their books
Two Castles Housing Association is helping its residents to manage their money more effectively through various activities under its Financial Inclusion strategy.
The Association is dedicated to continually improving services to residents and is directing them towards local sources of information and support that are available on key financial areas, including savings and loans, to improve their financial well being. It is also supporting local credit unions by encouraging its residents to use their services.
Two Castles has set up partnership arrangements with Citizens Advice Bureaus (CABs) to enhance its advice services. Residents have been able to benefit from extra fast appointments with CABs in their area to discuss any financial issues they might be having.
Clare Galland, involvement and equality officer at Two Castles, said: “Our Financial Inclusion strategy has been designed to help residents manage their finances better so that they have control over their cash and, hopefully, more money in their pockets.
“The strategy will help to increase our residents’ awareness of the financial services available to them, including insurance packages and bank accounts. It will also help inform them about the types of loans available, so they can avoid loan sharks and high interest rates from doorstep lenders.
“The importance of saving money is central to the strategy – through bank accounts and local credit unions, but also by cutting outgoings where possible, insuring against unexpected problems and getting a better deal from service providers. We are also going to be lending our residents home energy monitors to help them reduce their energy bills by identifying which devices in their homes are using a lot of power.”
Stephanie Murphy, chief executive of Two Castles, said: “We are dedicated to ensuring that our residents receive the best possible service, and particularly considering the recent economic climate, we wanted to ensure they were receiving sound financial support.
“The Financial Inclusion strategy aims to help our residents to reduce debt and save money for increased security. This will in turn maximise their income, improve their access to financial services and mean they have fewer money worries.”
