Published: 03 July 2009
Money Matters even in Rural Areas
'Rural Money Matters: A support guide to rural financial inclusion' has been launched by Dr. Stuart Burgess, Chairman of the Commission for Rural Communities(CRC) and the Government's Rural Advocate.
Around 1m people live in rural areas with high levels of financial exclusion, but the financially excluded are less visible in rural areas compared to in towns and cities and it is more difficult to reach those who need help.
Produced by DWP's 'Now Let's Talk Money programme, with the CRC, the guide will help local authorities and their strategic partners understand & tackle financial exclusion in rural areas.
To ensure Rural Money Matters brings real benefit to people living in rural communities the DWP is funding a new post in the Rural Financial Inclusion Champion Team to encourage the use of Rural Money Matters and directly support the growth of suitable financial services in underserved rural communities.
Councillor Shelagh Gurney, Chair of Norfolk County Council, said:
"The County Council supports the launch of Rural Money Matters, which will provide the guidance to promote financial inclusion in Norfolk.
By working together, I am confident we can face up to the challenges in our economy, and get the right help to the people of Norfolk, at the right time”.
Helen Goodman MP, Minister at the DWP, also supports the guide:
"As a person who represents a large rural community, I know how important financial inclusion is.
I'm delighted to be working with the CRC to ensure people in rural communities have access to the advice, support and services they need to improve their financial situation.
Rural Money Matters is an important step towards making that happen."
Will Aston, the Government's Rural Financial Inclusion Champion explained:
"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 home contents insurance and savings.
People are financially excluded when they do not have access to these basic financial services and products."
Mr. Aston continued:
"Financial exclusion is a real challenge in rural areas.
200,000 people living in rural communities have no access to a bank account of any kind, 250,000 people have no local access to a post office, bank or building society or cash machine and demand for affordable credit and debt advice is outstripping supply.
Despite these significant challenges, financially excluded people living in rural areas are less visible and more difficult to reach than those in urban areas.
Rural Money Matters marks an important step forward in raising awareness of this issue and improving rural financial inclusion."
Teresa Perchard, Director of Public Policy, Citizens Advice said:
"Citizens Advice welcomes the launch of Rural Money Matters, and calls for concerted action to assist rural communities in overcoming the economic challenges they face."
Rural Money Matters:
· shows how financial inclusion can make a significant difference in people's lives
· describes the current state of rural financial inclusion
· identifies financial exclusion 'hot spots' in rural areas
· includes case studies highlighting good practice
· helps policy makers ensure their work is 'rural proof' by considering rural circumstances
The CRC hosts the Government's Rural Financial Inclusion Champion team and is working in partnership DWP to promote financial inclusion in rural areas.
The Rural Financial Inclusion Champion team is working closely with local authorities and financial inclusion stakeholders from the voluntary and private sectors across England to promote good practice and develop local financial inclusion partnerships and strategies.
The team is also helping to 'rural proof' the work of central and local government to ensure financial inclusion related policy and programmes consider rural circumstances and benefit people living in rural communities.
Further information
Rural Money Matters: A support guide to rural financial inclusion
DWP's 'Now Let's Talk Money programme
Related articles
State of the Countryside 2008
Realities of Rural England
Community-led Personal Finance Solutions
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