Bank account access 'aids prisoner rehabilitation'
23 August 2010 14:42:49
 |
| Prisoners are benefiting from an inclusive bank account scheme. |
Launched by the Co-operative Bank in 2006, a total of 1,000 inmates at HMP Forest Bank, Greater Manchester, have now taken advantage of the scheme and the project has been shown to help reduce re-offending rates by about one-third.
According to research carried out by the Research Unit for Financial Inclusion at Liverpool John Moores University, the initiative has had an important effect on social and financial inclusion.
One of the prisoners to benefit from the scheme explained that, because he had never had any form of ID, he was unable to open a bank account.
"It's not been easy to get a job and I hope the account will help me. I've got my forklift truck license now and an account to put my wages in," he added.
Tim Franklin, chief operating officer of the Co-operative Financial Services, explained that people need access to a bank account in order to participate fully in society.
"Not having an account can jeopardise job opportunities, make obtaining rented housing more difficult and complicate access to education grants, all conditions contributing to re-offending rates with consequences not just for individuals but for society as a whole," he revealed.
Government figures suggest that nearly 900,000 people did not have access to a bank account in 2007-08.
‹ Back
Other Bank accounts News
-
Current account switching falls over past year
Fewer people are switching bank accounts. -
Bank overdraft charges come under fire
Overdraft charges on bank accounts have been criticised. -
Consumers to withdraw £11bn in December
Cash withdrawals to peak in December -
Majority of consumers 'can afford Christmas'
Vouchers and discounts are helping Britons to pay for Christmas.
All Bank accounts News
Other Home Page News
-
Think twice before taking out a payday loan
Payday loan customers may experience severe financial problems in future. -
Planning a trip? Here's where to spend your travel cash
Sterling has made strong gains against many currencies this year. -
Make sure you know your likely broadband speed
Many ISPs are still not being upfront about broadband speeds. -
Save money by checking out fixed-term energy deals
Energy costs are expected to rise again this winter.
All News Stories
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.