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Fair for You February Update
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Welcome

This is a very exciting time for Fair for You. We have secured funding to allow us to expand, and a big thankyou to Joseph Rowntree Foundation, Esmee Fairbairn Foundation and Tudor Trust for extending their faith in our work through further funding, and we welcome funding from The Robertson Trust of Scotland and Social Invest Scotland – as we extend our work across the UK. 
 
That has enabled us to extend our product range considerably – with furniture and most exciting is that we put live the new range of carpets and vinyl flooring. These arrive fully fitted and with the efficiency that is our USP and loved by our customers.  
 
We have also extended our pay now option and are keen to work with organisations who provide essential items through grants and hardship funds but do not wish to manage their own procurement – if this is something you wish to discuss please email me directly on angela.clements@fairforyou.co.uk
 
We have mentioned before that our service works well for those who are hearing impaired, and we now have many customers who use us partially because of this. 
 
Our next social impact report is due out 22nd March, and I can see from survey responses that this will provide an extraordinary insight into the way that our customers use credit and value the design and structure of our credit solution. 
 
Our team has extended with Tony Hawken joining us as Director of Finance and Operations – and we now have a small team that are available to be part of local events and initiatives. We also have huge levels of information and data that can help inform local work to alleviate poverty through removing the poverty premium from low income households. We would be delighted to work with any local initiatives – do please contact Charlotte or myself if we may be of assistance to your local residents. 
 
As rent to own is in the press more than ever, we are delighted at the level of engagement and support for our work. We look forward to extending that through 2017, and I hope you find the attached short summary review of our work in 2016 interesting.


Kindest regards,

Angela

CEO

In your February update...

  1. Products keep extending...
  2. Working with us to alleviate proverb premium
  3. Social Impact for 2016
  4. Meet the team
  5. Financial Inclusion events & presentations
  6. "Pay Now" option
  7. Does hearing impairment stop you getting credit?
  8. A summary of our first year
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Products keep extending...

Carpets and vinyls added this month, and we have extended furniture especially childrens beds, with a good range of beds including mattresses well under £200. 

Mid sleepers, bunk beds and even a triple bunk are all really popular items suiting homes where space is at a premium. 

Our customers tell us what they need, and we keep adding in each month to meet their needs.

Working with us to alleviate poverty premium

We continue to build our work with partners to reach more of those who use high cost credit.

We don’t have much of a marketing budget, and we find social media works for our customers well. we are growing at over £1k likes a week on our facebook as our organic customer growth is becoming evident.

We are keen to share best practice around our work – what we see works to challenge high cost credit across the UK. 

Our customer map reflects the poverty map of the Uk, and we feed into a wide range of research papers into the poverty premium.

Social Impact for 2016

The 3rd independent report into our social impact is being prepared for release on 22nd March. 

Click here for a summary of our social impact in our first year. We saved customers £2.3m compared to using rent to own stores – but that is only a small part of our impact. 
 
For our partners we will provide social impact reporting to help you design solutions in your local area to tackle the poverty premium and challenge the growth of high cost credit. 

We are constantly researching and analysing information from our customers and our work to improve the impact of what we do, and the benefits to the households we reach into.

Meet the team

Do you know the team at Fair for You?

Angela Clements
Chief Executive Officer

available for presentations & events

“There are too many loans companies around now that make a lot of profit and don’t treat their customers very well. Many of the largest ones are based overseas and so don’t even support our local economy.

 I have sat through all of the customer forum groups we have run in the past year, and I think there are a lot of people who now believe its time for something better.

I am determined that Fair for You will offer our customers a new alternative when they need to buy items for their home.”

Tony Hawken
Director of Finance and Operations

Having spent a previous life as a Non-Exec with a Social Landlord I have seen first hand the struggles that families can face.

In the little time that Fair for You has been trading it's clear to see the vast positive impact it is having on the lives of these families. This doesn't surprise me as I have joined a great team of like-minded, socially conscious people.”

Alexandra Neville
Head of Lending

I wanted to be part of a company that helps people, and Fair for You definitely does that. 

I can go home everyday knowing that I’ve made a difference.”

Rebecca Ingle
Research and Data Officer

“The part I enjoy most about my role is seeing the impact that Fair For You is having across the UK. It’s great to see everyone’s hard work pay off when we get positive customer feedback, and I think it drives us all to do more”

Charlotte Bailey
Marketing Officer

“I’m proud to be part of something that challenges the way things are done, and that is creating something new and life-changing for our customers”

Financial Inclusion events & presentations

If we can add value to your work, we will always try to do so. We can always supply materials, and if we can get there we are pleased to be invited.

"Pay Now" option

Having developed a high street that meets most customer needs, though bearing mind a price point that we see works in their households, we are pleased to make this available to organisations that use hardship funds to support tenants, clients, members, and constituents. Talk to us if you would want to be a partner user of the pay now option to provide vouchers for your customers. Email angela.clements@fairforyou.co.uk

Does hearing impairment stop people getting credit?

Does hearing impairment stop people getting credit to buy essential items for your home?
 
Fair for You has a number of customers who need support because of being hard of hearing. We can complete loans using text relay and make sure we only communicate through written correspondence. 
 
If a customer is hard of hearing they just tell us when we respond regarding their loan application that they need this service & our loans team are always pleased to help.

We are happy to complete loans via a relay assistant using text relay for example. 2 of these types of service that we are aware of include:
 
https://www.actiononhearingloss.org.uk/your-hearing/ways-of-communicating/other-forms-of-communication/text-relay.aspx
 
http://ngts.org.uk/textrelay.php?bookmark=works

A Summary of our first year

Fair for You (FFY) provides loans for low income households to purchase essential items for their home. In the first year of trading, up to 31st December 2016 FFY has issued:
  • £1.076m of loans.
  • Allocated 3,787 loans to 3,068 customers.
  • Allowed customers to purchase 4,099 products 
Click here to read the full summary
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