Financial exclusion and worklessness are harsh realities for low-income families across Scotland. Sharon Wheeler, financial capabilities officer for the CIH, suggests these problems can be tackled through the development of financial capability strategies. These strategies provide information and resources to allow tenants to make better financial decisions.

Sharon highlighted the potential role the housing sector can play in developing and delivering innovative financial products and services, and engaging with tenants to provide financial training and information.

She said that it is important that information about the best financial services is shared between money advisors, housing officers and other front line staff. This may be by word of mouth or more formal structures such as newsletters distributed by housing officers.

Heather Voisey, a Neighbourhood renewal officer with GHA spoke of the role RSLs can play in promoting social inclusion. She believes that it is important for housing associations to take advantage of existing service as well as promoting benefit take up as part of a multi level approach to take financial exclusion. She said that promoting awareness amongst tenants has proven to be a key part of the strategy used by GHA.

Heather then promoted Scotcash as an example of Community Interest Company that is best practice. They provide an alternative to Home Credit and provide assistance on a case by case basis to ensure services and advice are targeted and responsive to individual needs. Amongst their services are affordable loans, basic bank accounts, and money advice which fill the gap in financial services.