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Measuring the impact and outcomes of local financial inclusion initiatives

Measuring the impact and outcomes of local financial inclusion initiatives . Sinéad Marron, Toynbee Hall. Outline of Talk. Where’s this project based? Why are we doing it? Who are you working with? How did we develop the Tool? What exactly will it measure?

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Measuring the impact and outcomes of local financial inclusion initiatives

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  1. Measuring the impact and outcomes of local financial inclusion initiatives

    Sinéad Marron, Toynbee Hall
  2. Outline of Talk Where’s this project based? Why are we doing it? Who are you working with? How did we develop the Tool? What exactly will it measure? What do we hope it will achieve? What will it look like when it’s finished? Followed by time for questions and discussion...
  3. Toynbee Hall Community-based organisation Vision: “to eradicate all forms of poverty” Current Projects include: Free Legal Advice Centre Youth work Older-people’s services ESOL Work with street-prostitutes Volunteering & employment Community Engagement Time-banking
  4. Advice & FI @ Toynbee Hall Services Against Financial Exclusion (banking, 1:1 work etc.) Debt advice (Capitalise operator) MacMillan advice City advice East End Energy Fit Financial Well-being measurement Transact Money for Life Financially Inclusive Tower Hamlets Local research
  5. Measuring Impact: 6 observations... ...build on existing practice ...prevent multiple wheel inventions ...create a language to talk about impact ...create a national database ...be an independent way of measuring soft outcomes ...create the opportunity for holistic assessment Many of these observations came from local practice at Toynbee Hall
  6. MAP Tool Money, Access and Participation Tool AIM: Develop a national financial well-being measurement tool ETHOS: Stakeholder led design process (by sector, for sector) facilitated by independent experts
  7. Partners and Funders Citi Foundation have funded a 2 year development and roll-out phase (June 2011 – May 2013) Partnered with National Centre for Social Research (Questionnaire Testing and Development Hub) Transact
  8. Steering Group Bristol University (PFRC) Centre for Responsible Credit Centrepoint Citizens Advice Department for Work and Pensions Financial Inclusion Centre Friends Provident Foundation Hyde Housing Group Liverpool John Moores University (RUFI) Money Advice Service Money Advice Trust National Audit Office Northern Rock Foundation Southern Housing Group University of Birmingham (CHASM)
  9. Pilot Organisations 2Shires Credit Union (PS1) Fabrick Housing Group (PS1) Bromley by Bow Centre (PS1 & PS2) CHS Group (PS1 & PS2) Civil Service Benevolent Fund (PS1 & PS2) Coastline Housing (PS1 & PS2) Hyde Housing Group (PS1 & PS2) Knowsley Housing Trust (PS1 & PS2) Regenda Ltd (PS1 & PS2) The Hillcrest Group (PS1 & PS2) Wolverhampton Homes (PS1 & PS2) Wrexham County Council (PS1 & PS2) Advice NI (PS2) City Save Credit Union (PS2) Community Housing Cymru (PS2) Housing 21 (PS2) Kirklees Citizens Advice Bureau (PS2) London Borough of Camden (PS2) Money Advice and Community Support (PS2) NHS Dumfries and Galloway (PS2) North Liverpool Citizens Advice Bureau (PS2) Sandwell Citizens Advice Bureau (PS2) Sandwell Homes (PS2) South Yorkshire Credit Union (PS2) Wales & West Housing Association (PS2) Waltham Forest Community Credit Union (PS2) Women’s Employment Enterprise and Training Unit (PS2)
  10. Development Plan Steering group Analysis of current impact evaluation Stakeholder consultation Develop and test initial questions Pilot 1 – 5 weeks Analysis & re-design Pilot 2 – 6 months with ongoing revisions Further consultations (including weighting) Analysis and redesign Move to web-based platform
  11. What is financial well-being?
  12. Building components
  13. 9 Component Areas Demographics Financial Products and Services Income and Expenditure Debt Capability Resilience Attitudes Well-being Goals Vulnerability (composite area) Barriers (flagged throughout)
  14. Purpose and scope Policy Lobbying Sharing information Impact & demand Impact measurement Needs assessment Trigger to find help, make changes and keep on track
  15. What’s it actually going to look like?

  16. Any Questions?

  17. Potential discussion points... Opportunities of the MAP Tool? Risks of the MAP Tool? Should a client be able to take their record from one organisation to another? What would sharing data allow organisations to do? What are the potential uses of the national data?
  18. Thank you! We always welcome comments, thoughts or suggestions or questions. Email me at: sinead.marron@toynbeehall.org.uk Let me know if you want to be put on our mailing list or join Transact for regular updates.
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