We are co-hosting an event with the Council to launch 2 new initiatives that have been shaped in partnership. It’s important to note that the purpose of this launch is to invite organisations into the process of designing how both these initiatives develop in the next phase.
The two initiatives are:
Community Banking: Barking and Dagenham has committed to developing a Community Banking offer, to increase access to more affordable credit and fairer financial services for those who live and work in the borough. This is in direct response to research exposing significant levels of credit exclusion and high-cost loan use in Barking and Dagenham, with an estimated 6,000 households taking out 20,000 high-cost loans to the value of £9.4m every year. Due to high-interest rates involved, £16.7m is repaid losing money from resident’s pockets and the local economy. CAB and DABD have been involved in shaping this strategy and now we want to widen the conversation with residents, particularly those with lived experience and community organisations to help inform the offer. We are keen to get a buy in from as many of you as possible to ensure this initiative really does reach the people who need it most.
Neighbourhood Networks: Through conversations in the BD_Collective Reimagining Networks and other places, we have a growing sense that more can be done at a very local level. Following the Community Hub workshops that some of you have been involved with, we will be sharing the pilot neighbourhood plan and how you can be involved.