Tackling Financial Exclusion and promoting Financial Inclusion

Financial inclusion is for everyone

Financial Inclusion, whilst often misunderstood and overlooked, is one of the biggest issues facing individuals in the UK. Now, everyone regardless of their social and financial background requires access to an appropriate range of financial services in order to function and flourish in today’s society. Financial exclusion affects a growing number of individuals with poor credit / no financial history in the current economic climate.

The importance of financial inclusion whatever your background or circumstances

Whatever level of income or social status individuals have, for financial inclusion to be achieved, individuals need to be supported through the provision of relevant financial products – most importantly a banking facility that allows them to receive and pay money – and provided with basic income management skills along with an outline understanding of the monetary system.
There is no doubt that financial exclusion causes unnecessary hardship, especially amongst those who are vulnerable and disadvantaged. People who can least afford it usually end up paying more for basic needs like energy or telecoms whose providers tend only to offer cheaper tariffs to customers paying by automated means. Furthermore, loans and credit at affordable rates are inaccessible to many without bank accounts, one of the key drivers in the increase in high street pay day lenders.
Credit unions offer a way onto the financial inclusion ladder, and those credit unions who work in partnership with credEcard offer a true, holistic alternative to those who are ignored or dismissed by the mainstream banking sector.

The credEcard programme promotes financial inclusion

Anyone can apply for a credEcard personal account, either through a referring organisation like a Credit Union or housing association. Alternatively, new cards and accounts can be received direct through our website www.credecard.com. Application is quick and simple and no credit checks or financial history information is required. Customers receive a Visa debit card, an online personal account with a UK sort code and account number, a built-in money management tool that ring-fences funds and pays bills automatically, a free mobile phone app for easy online access through a mobile or tablet and cash back rewards of up to 15% at high street retailers and supermarkets (rewards for members of a referring organisation).
The aim of credecard is to provide an ethical alternative to mainstream banking facilities and through partnerships with key organisations throughout the UK, achieve 100% financial inclusion for all, regardless of individual circumstances, credit score or personal history

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