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Helping clients save for a deposit whilst in supported accommodation

Helping clients save for a deposit whilst in supported accommodation

Topic created on, Monday, April 10, 2017 , from London
Is anyone currently working in supported accommodation aware of any good methods of helping clients save for a deposit through eg, a Coop, or other savings model.
Tag:   deposits (1)    

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(Partnership Development Officer/Training Coordinator), from Rotherham Here in South Yorkshire we make use of the Credit Union Savings Scheme. Information can be found at http://www.sycu.co.uk/content.asp?section=228 I'm sure there are equivalent schemes across the UK
(Income Services Officer), from Chester I was going to say the same about setting up a Jam Jar acccount at the local Credit Union.
(Director), from Worksop Clients can save up in a bank, building society, or credit union, account, but the big advantage of the credit union account is that they can utilise the "jam jar" account so that the money is set aside saved up for a specific purpose. Saving regularly with a credit union also gives people access to low cost loans if needed even if they would never qualify to be offered a loan through a bank or other low cost lender. Another very important side effect of saving up while in supported accommodation is that it is evidence of the client being able to budget effectively and save up money, and this in turn contributes to the evidence that the client may be ready for independent living which may help them get a "moving on" priority on the council's housing waiting list.

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