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Ayrshire Financial Access Partnership: Providing Financial Services for Tenants

A new partnership, Ayrshire Financial Access Partnership, aims to provide financial services and support to tenants to tackle financial exclusion and welfare reform challenges. Services include current accounts, budgeting assistance, and access to other products. Joint marketing and promotions will ensure maximum reach.

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Ayrshire Financial Access Partnership: Providing Financial Services for Tenants

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  1. Context • 1st Alliance: • Background • Products • Service • The Partnership Development • The Partnership in Practice • Questions

  2. Shares • Loans • Current Account • Pre paid card • Benefit Direct • Home Contents • Life Insurance • Free to member life and loan insurance

  3. Bill Payments • Standing orders • Budget accounts/jam jar accounts • Loans to unemployed new members • Readiness for Universal credit

  4. What did we need to know • Potential numbers • Ratio of workers to accounts • Unit cost • Service requirements • Commitment to promote

  5. 6 social landlords A new partnership- Ayrshire Financial Access Partnership Joint Service level agreement Sign up of tenants Promotion to staff Start up contribution over 2 years Joint marketing Future joint initiatives

  6. Lack of current account facilities for tenants • Open up access to other services • Increase in direct payments • Budgeting assistance • Minimise new collection costs

  7. Locally based and Ayrshire wide • Existing membership • Ethical banking • No “selling” of products • “Jam Jar” accounts • Bulk payments • Tackling wider financial exclusion

  8. Those affected by welfare reform • Joint publicity • New tenants • Requirement for payment method • Accessing services • Coping with change • What do tenants want?

  9. Complete application form • Include 4 digit security code • Provide photographic ID, or; • Take photograph of tenant and attach to headed paper • Copy 2 pages of SST • Identifier stamp on front of application

  10. Complete DWP form DPGEN 06/12 to transfer benefit payments direct. • Forward form to 1st Alliance • Back office processing • Mandate to inform landlord of account closure

  11. Statistical information • Cancellations • Cost • Casework • Pay points and advice surgeries

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