Further information
The 2008 Conference:
• The third LJMU financial inclusion conference is now The Northern Financial Inclusion Conference (NFIC).• Its purpose will be to develop an understanding of financial inclusion as central to the sustainable regeneration of low income communities and to promote policy and practical developments in the field.
• The new LJMU research report, “Breaking through to the future: the strategic development of credit unions in Britain” will be launched at the conference.
Conference theme:
Finance for all – access to financial services as central to the sustainable development of neighbourhoods, cities and regions.Conference sub-themes:
•The centrality of partnership approaches to financial inclusion.• The conference will highlight 10 years of credit union development since the publication of the 1998 report, “Towards sustainable credit union development”. This report was sponsored by The Co-operative Bank and written by LJMU in collaboration with ABCUL.
• Liverpool European Capital of Culture – engaging with neighbourhoods and communities through the promotion of inclusive financial services.
These sub-themes will be integrated within the overall conference theme of “finance for all” and featured in major displays in the concourse area.
Reducing carbon emissions:
In order to minimise the impact that this conference has on the environment, we will offset the carbon dioxide emissions associated with speaker and delegate travel to and from the event. To help us with this, please ensure that you fill in your travel details on the form supplied on the day.Partners:
The conference is promoted as a major national event supported by The Co-operative Bank, which is the sole corporate sponsor.The conference is organised and promoted by:
•The Association of British Credit Unions Ltd
•Liverpool John Moores University (Research Unit for Financial Inclusion, Faculty of Health and Applied Social Sciences).
10 years of financial inclusion activity – reflections and future challenges
In 1998, Social Exclusion Unit published “Bringing Britain together: a national strategy for neighbourhood renewal”. It endeavored to analyse the endemic problems faced by deprived low-income communities and to develop policy responses to deal with the causes of decline. It established fourteen policy action teams, one of which was to develop a strategy to increase access to financial services for people living in deprived neighbourhoods.In the same year, a Credit Union Task Force was established by the Treasury, with a remit to explore ways in which banks and building societies could work with credit unions to increase their effectiveness and to widen the range of services they provided to members. In December 1998, the LJMU report, “Towards Sustainable Credit Union Development”, was published by ABCUL with the support of The Co-operative Bank. This ground-breaking study was to stimulate a major transformation in the organisational development of the British credit union movement.
1998 marked a turning point in the way Government, banks, credit unions, as well as statutory and voluntary agencies understood lack of access to financial services as a critical factor behind persistent income inequality and economic disadvantage. From 1998 onwards, financial inclusion became regarded as fundamental to tackling poverty and to the economic growth of communities.
In the ten years since 1998, in Westminster, Edinburgh and Cardiff, Government has initiated a range of policy initiatives aimed at promoting financial inclusion. Most of these have been implemented in partnership with other agencies, which include banks, credit unions and community development finance initiatives (CDFIs), social landlords, money advice agencies and local community organisations. The past decade has seen the introduction of basic bank accounts, a focus on the provision of affordable credit, the Savings Gateway, the Child Trust Fund, an increase in insurance with rent schemes, an expansion of money and debt advice in low income communities, the Financial Inclusion Fund and a new Government financial capability strategy. Alongside such initiatives, an increasing research focus on the dynamics of financial inclusion has arisen within academic institutions.
The period has resulted in a significant transformation of the British credit union sector as many credit unions endeavour to become effective co-operative financial institutions able to play a greater role in tackling financial exclusion. This change has been supported by Government through more appropriate legislation and regulation, and by the financial sector. With the support of The Co-operative Bank, for example, a number of credit unions now offer the Credit Union Current Account, regarded as key to enabling many people to take a first step into financial inclusion.
This conference aims to mark ten years of the promotion of financial inclusion in low-income communities. It will explore developments in widening access to financial services, in transaction banking, in serving the credit needs of low-income borrowers, in financial capability education and training and in a range of initiatives supported by local government and social landlords. In reflecting on the past, the aim will be to identify new strategic measures for the future.
As part of the conference, a new LJMU research report into the growth of the British credit unions since 1998 will be launched. This report will identify the key strategic issues that credit unions are likely to face in the future.
Who should attend?
The conference is for all organisations and agencies with an interest in, and commitment to, tackling financial exclusion in Britain. These involve regional and municipal authorities, government agencies, banks, credit unions and other financial institutions, money advice agencies, social landlords, community organisations and associations, churches, agencies working with young people and families.
