Find out more about the National Housing
Federation’s not-for-profit responsible credit business, which
offers financially excluded people an alternative to high cost
credit, whilst helping them to save money.
22 February 2012
My Home Finance was launched in August 2010 to
offer small sum credit, bank accounts and savings accounts to
housing association tenants and others who can otherwise only
access loans at a very high cost from sources such as payday
lenders, doorstep lenders and loan sharks.
Trade has been brisk, with the company making
8,000 loans and 50% of customers opening savings accounts. At the
1st January 2012, MHF took over control of operations from its
subcontractor, East Lancs Moneyline, and now manages all activities
on a daily basis, subcontracting portfolio administration to Street
UK.
Having smoothly effected the transfer,
My Home Finance is now in the
process of streamlining to improve the efficiency of services to
existing customers as well as exploring different ways of reaching
new ones. From 1st march services will be discontinued
from its shops at Dudley, Tamworth and Erdington. However, My Home
Finance will still be trading from six central town and city
locations across the West Midlands. These are Hereford, Worcester,
Wolverhampton, Northfield, Birmingham City Centre and
Coventry.
For more information please contact:
Tess Pendle, Head of My
Finance
Matthew
Bracewell, Financial Inclusion Co-Ordinator
Direct link to this page
http://www.housing.org.uk/services/funding_and_partnerships/my_home_finance.aspx
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