Banking group launches £2.5mn foundation
Melanie May | 27 June 2023 | News
Vanquis Banking Group has announced the launch of a £2.5 million community investment programme: the Vanquis Banking Group Foundation. It will invest in initiatives focused on social mobility and financial inclusion with the aim of supporting children and young people to achieve their full potential across the UK.
The Foundation will focus on three key strategic pillars: education, community, and financial inclusion advice:
- Education – Backing programmes that boost literacy rates and offer insights into the world of work and the skills needed to secure opportunities.
- Community – Supporting social and financial inclusion in the communities it operates in.
- Financial Inclusion Advice – Funding debt management and financial counselling organisations.
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This continues Vanquis’s work with community partners and schools, including the Bradford District Community Foundation and the London Community Foundation.
The Foundation will draw together these projects alongside Vanquis’s partnerships with the National Numeracy Trust and Outward Bound Trust, supporting local disadvantaged children and families through access to education programmes.
It will also increase the size of Vanquis’s scheme to support access to affordable school uniforms across the north of England. The project has provided £100,000 so far, supporting more than 1,000 pupils across Bradford, Liverpool, Manchester, and Blackpool with uniforms alongside longstanding community partners School-Home Support and the Dixons Academies Trust. It will now extend to provide uniforms to pupils in London, Croxteth, Fazakerley and Broadgreen in Liverpool and Chapeltown in Leeds, with funding increased to £125,000 in 2023/24.
Malcolm Le May, Chief Executive Officer of Vanquis Banking Group, said:
“Making sure children can get to school and have the skills they need to succeed demands a long-term commitment. I’ve seen the difference we can make for individual families with our partners’ help, and I’m determined to do more. As families deal with the challenges of rising prices month after month, financial inclusion is more important than ever.”
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.