New guide supports 1m living in rural financial exclusion
The Commission for Rural Communities (CRC) has published a guide to help local authorities tackle final exclusion in rural areas.
Produced in conjunction with the Department for Work and Pensions (DWP), Rural money matters, is launched today at the Royal Norfolk Show.
Rural financial exclusion is often more challenging than that of urban areas, with mainstream banking services in decline and populations dispersed across wide areas.
CRC estimates that around one million live in rural areas with high levels of financial exclusion, with 200,000 people in rural communities having no access to a bank account of any kind. Demand for affordable credit and debt advice in rural communities is outstripping supply.
DWP is funding a new post in its rural financial inclusion champion team to encourage the use of the guide and the promotion of financial services in excluded areas.
Will Aston, the government’s rural financial inclusion champion, said: ‘Financial inclusion is about ensuring everyone has the capability and opportunity to access the financial services and products needed to participate fully in modern day society. These include access to affordable and responsible credit, an appropriate bank account, face-to-face debt advice, basic contents insurance and savings.’
Rural money matters: a support guide for rural financial inclusion is available at www.ruralcommunities.gov.uk/financialinclusion
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