Having basic literacy and numeracy skills can help us to better understand the world and make sense of financial education when we get it, which in turn helps us make good choices
when it comes to managing money. However, most debt problems occur when a borrower experiences a change of circumstance, such as redundancy, divorce or ill health. It’s not
always a choice. Forbearance has a key role to play in helping customers who are suffering problems, and we believe at Vanquis Banking Group we do this really well, as helping the
customer get back on their feet is the best outcome for them and everyone else. However, no matter how responsible a lender is, there will always be some people who struggle with
debt problems. That’s why we’re involved in supporting debt management and financial counselling organisations to:
– ensure colleagues have the skills to deal with customers with additional needs;
– support the delivery of financial education to children and young people; and
– fund a range of debt advice organisations.

Education is key to making sense of the world. Access to better education can help us to make better decisions, explore new opportunities, participate in society and find our role in our
communities. Education can also enable us to become more socially mobile and make positive financial choices. That’s why we focus on areas of education where we believe we can make a lasting impact, by beginning working with children as young as two and three up to leaving school. The Group will therefore work with and support organisations such as
School-Home Support, National Numeracy, the Social Mobility Business Partnership, Leading Children and others to: – provide support for programmes to boost the literacy and
numeracy of children, young people and other groups; and – offer children and young people insights into the world of work and the skills that will help them secure opportunities, including employment.

Having a welcoming and supportive community can be the difference between whether a person feels socially included either physically or emotionally. Social exclusion takes many
forms, and people in need can risk becoming vulnerable, or more vulnerable, if they’re not able to access support or feel able to fully participate in their community. Through our community foundation partners, we will help to address the wide range of social and financial inclusion issues that are relevant to our customers and the communities where
we operate by:
– providing grants to grass roots organisations and charities through community foundations which will support local children and young people facing disdvantage;
– supporting colleagues to get involved as volunteers by:contributing to the grant-making process; and helping to improve and transform areas within our communities to
provide positive spaces where key social and financial inclusion initiatives can be delivered; and
– exploring how the Group might invest in voluntary, charity and social enterprise sector organisations which deliver products and services in a range of interventions for the benefit of children and young people.