DCU wins financial education funding
27 May 16
Darlington Credit Union has won a share of NatWest’s Skills and Opportunities Fund.
The £2.5 million fund supports organisations in disadvantaged communities to develop, create or access the skills and opportunities that will help people to help themselves; skills that will enable them to get into work or start a business, now or in the future.
Following a public vote, Darlington Credit Union has been awarded £34,741.60 from the fund, which the credit union will use to provide financial education to people aged 15 or over who are currently, or are at risk of becoming, financially excluded.
The funding will pay for the creation and delivery of an in-depth financial education package, to help increase the long term money management skills and financial awareness of people most vulnerable to financial exclusion.
Darlington Credit Union Chief Executive Tony Brockley said: “The funding from NatWest will allow DCU to build upon the excellent work that we had begun over the last three years with our MoneyWorks project.
“This new project, MoneySmart, targets a smaller group but with a more tailored approach to achieve the best outcomes. We would not have been able to take on this additional work if it had not been for the funding.”
Darlington Credit Union was founded in 2009 and moved into new modern premises last September. The credit union attracted over 1,000 new members last year to take its total membership to around 6,000. Members are saving over £1.8 million with their credit union and borrowing more than £1.2 million.
Chairman of NatWest’s North Regional Board Richard Topliss said: “It was a challenging decision because of the standard of entries we received. But the panel felt that all of the organisations would make a massive impact in their local communities.
“Our congratulations and best wishes go to Darlington Credit Union and I’d encourage anyone who wasn’t successful this time to try again when applications open in August for the next round.”