New service to help Guernsey's financially vulnerable

Wednesday 13 February 2019

People in difficult personal circumstances, including former prisoners, will be able to access financial support through a new scheme being set up to help them.

It's thought more than 100 people in Guernsey are currently what is known as 'unbanked' meaning they can't access services offered by the mainstream 'High Street' banks like most other people.

Guernsey Community Savings has come about after in-depth research was carried out into the needs of people in the island, who may be unable to use those mainstream services.

The GCS has a website with information on about its aims and services and listing the job vacancies it has already 

Peter Neville came up with the idea, and he has spent two years working on it already - including many hours of hard work to secure support and funding for the initiative.

“The problem of the ‘unbanked’ in Guernsey – typically former prisoners and others in difficult personal circumstances – is a serious social issue,” he said.

As a former Director-General of the Guernsey Financial Services Commission, Mr Neville knows who the target audience is - and he says there are already more than 100 people in Guernsey alone who would be described as 'unbanked' which then has many knock on effects throughout their lives. 

"Without having basic banking and payment facilities people can find it difficult or even impossible to get a job, secure accommodation, or even to keep their money safe," said Mr Neville.

Mr Neville also said he hopes GCS will play a major part in helping people in this situation, who are referred to GCS by community support agencies, to re-establish themselves as full members of society. 

"Given the chance most people in these situations will welcome the opportunity to regain a place in the community. Guernsey has a responsibility not to exclude them, but instead to help and encourage them to return to mainstream society. If excluded, there is a genuine risk that some will be denied accommodation and employment, risk getting into greater difficulties and possibly reoffending.  This means a cost both to the individual and to the community."

Peter Neville used to be Director-General of the Guernsey Financial Services Commission. 

Mr Neville said he has spoken to the High Street banks in Guernsey to see if they can work together, but although they provide basic banking services to such people in the UK, they do not do so locally. So he said there was no alternative to setting up a new organisation. 

“We are very fortunate to have gathered the enthusiastic support of a number of senior figures in the financial, business and training areas. Some of their companies are providing operational and support services free of charge.  Others, including a number of the local banks and charitable bodies, are providing very generous financial support.  The company has been set up, the Board is in place, and we are registered as a charity.  The GFSC has been very encouraging and we are in the process of getting their final approval. The aim is to begin operations in the second quarter of this year."

Mr Neville said the office will only be open on a part-time basis, but customers will be able to access cash through bank cards and High Street cash machines and make purchases either online or by using their card. GCS will also offer budgeting advice and guidance while customers will be encouraged to save. Small loans may be available to help overcome crises. 

To offer those services GCS will need two members of staff; a General Manager and a Financial Controller. Both will be paid, part-time roles and Mr Neville said they could be suited to people looking to move into semi-retirement. GCS will also be looking for unpaid volunteers to act as customer relationship officers, administrators and money-skills trainers. 

There's more information on the GCS website or via email to Peter.Neville@gcs.gg.