Millions of families and businesses cannot access fair and affordable financial services. This results in families turning to high cost credit and often getting trapped into spirals debt. Businesses are unable to set up and grow, hampering economic growth.
Community financial service providers, such as Community Development Finance Institutions (CDFIs), Credit Unions and Social Finance Funds are filling this gap in supply. But more action is needed to support these organisations to expand and develop so they can meet the needs of families and businesses across the UK.
The Community Investment Coalition is a partnership of national organisations, campaigning to increase access to affordable finance for all communities.
CIC campaigns for:
- Increased transparency and public accountability of financial service providers to support consumer choice and allow effective intervention in under-served markets.
- Increasing diversity of providers and choice for consumers in the financial services sector, with more providers offering a wider range of fair and affordable products.
- More innovation in the financial services sector so that affordable financial products are delivered accessibly to all communities.
- Sustainable local economic growth with a greater share of locally generated income remaining within communities.
- Better financial literacy for all.
You can download CIC’s information leaflet here.
What is community investment?
Community Investment means providing credit and other financial services to families, businesses and other organisations who are not adequately served by the high street banks.