Money for Life Programme Highly Commended in top UK Awards
A programme to help people better manage their money in Wales and other parts of the UK has been highly commended in Business in the Community’s (BITC) prestigious Awards for Excellence, which commend the best examples of business as a force for good.
As well as being highly commended in the Jaguar Land Rover Building Stronger Communities category, Money for Life also received a Big Tick at the Awards for Excellence gala dinner in London, in the presence of BITC president HRH The Prince of Wales.
Lloyds Banking Group’s Money for Life programme is delivered in Wales by ColegauCymru/CollegesWales in partnership with the National Training Federation for Wales (NTfW).
Julia Owens, Wales project co-ordinator from ColegauCymru/CollegesWales and Clara Weekley from the NTfW were invited to join Lloyds Banking Group, which has invested £4 million in the programme across the UK, at the gala dinner in London, attended by over 1000 leaders in business and co-hosted by Mishal Husain of the BBC and Suggs from Madness.
The Money for Life programme aims to develop vital money management skills in learners across the further education (FE) sector, including colleges, work based learning providers and a wide range of organisations that are rooted in their local communities.
Money for Life provides accredited, free-of-charge financial education training to college staff and community workers to give them the skills they need to talk confidently about money management, and to support their learners to stay out of debt and save for the future.
In 2011-12 Money for Life provided 1,400 free training places. This in turn has enabled delivery of financial education sessions to in excess of 10,000 learners in the programme’s first year.
The programme also empowers young people to develop innovative, grass-roots money management solutions through the Money for Life Challenge, This national competition provides small grants for 16-24 year olds to run a money management project to improve financial literacy in their communities.
Earlier this year, a team representing Wales – the Don’t Buy Posh – Save Your Dosh team from ACT Training Bridgend – won the UK Grand Final of the Lloyds Banking Group Money for Life Challenge.
Sarah Porretta, Head of the Money for Life Programme at Lloyds Banking Group, said: “we are absolutely delighted that the success of the Money for Life programme has been rewarded at these prestigious awards. We have worked together with our partners to build a sustainable programme that positively impacts local communities. Gaining recognition for our work will further motivate us to make a difference to financial education across the UK”
Dr John Graystone, Chief Executive of ColegauCymru, said: “I am delighted that Wales has punched above its weight in building capacity and delivering financial support through the training courses to far more people than the rest of the UK. I am proud that ColegauCymru has taken such an active and successful role in this UK project and also thank our partners in Wales, the NTfW, for working very closely with us. We are now looking forward to working with more trainers and young people across Wales next year.”
Arwyn Watkins, NTfW chief executive, said: “The NTfW is delighted to be a partner in this excellent programme that improves young people’s money management skills.”
Business in the Community’s Awards for Excellence recognise the powerful and positive role that business is playing in local communities by awarding companies for the impact and innovation of their responsible business programmes across a number of categories. The awards are given to companies who demonstrate their leadership on the key social and environmental issues where business can make a difference at local, national and international levels