Working together to improve financial resilience

What is financial inclusion?
Financial inclusion is a state in which everyone has the capability and opportunity to access appropriate, desired, financial products and services in order to manage their money effectively and participate fairly and fully in modern day society. 

There are two elements to financial inclusion; good financial decision making and access to suitable products and services.

Good financial decision making is based on:

•  Financial literacy or a basic understanding of financial concepts.

•  Financial capability; the knowledge, skills, confidence and motivation to manage your money well. This includes having numeracy and literacy skills, understanding financial products and being able to use them, planning your finances and seeking out information and advice. Financial capability is increasingly important as the range of financial products becomes more complex. The need for financial education is continuous throughout people’s lives as their personal circumstances and the market change.

Access to suitable financial products and services includes:

•  Appropriate bank accounts, basic home insurance, savings, affordable and responsible credit.

•  Free and impartial money advice.

Consequently providers play a vital role in promoting financial inclusion.

Financial inclusion – why does it matter?
Financial Inclusion is essential for anyone wanting to participate fully and fairly in everyday life. People outside mainstream financial services suffer many disadvantages.  

Those who are financially excluded may:

• Pay more for utilities, unable to access Direct Debit discounts.

• Pay more for goods and services and have less choice.

• Pay extremely high rates of interest to doorstep lenders or high cost credit providers, or face extortion, intimidation and violence at the hands of illegal lenders or ‘loan sharks’.

• Have unmanageable levels of debt.  

• Lack the financial buffer small savings provide, or the security of simple insurance, making unexpected financial pressures either difficult or impossible to manage.

• Be unable to access free and impartial debt advice, that can help avoid financial distress.

• Suffer poor physical and mental health, family breakdown and social isolation, with interventions designed to increase wellbeing being undermined.

Financial exclusion marginalises people and acts as a barrier in their lives. It reinforces social exclusion and exacerbates poverty. It can be a barrier to employment; people who are financially excluded may find it hard to get a job as more employers require bank accounts for credit of wages. Lack of financial resilience in the form of savings may make the gap in income between receipt of benefits and payment of wages unmanageable in the transition from unemployment to work.

The Lincolnshire Financial Inclusion Partnership

Who are we?
Recognising that success is achieved in partnership the Lincolnshire Financial Inclusion Partnership brings together a diverse range of organisations from all sectors; public, private and voluntary to provide a forum for sharing good practice and information and promoting financial wellbeing.  

The partnership is continually developing and current partners include those from debt and money advice providers, credit union, local authorities, housing associations, charities, and retail banking. The Financial Inclusion Partnership acts as the expert panel for the Lincolnshire Joint Strategic Needs Assessment Financial Inclusion topic area.

For further information about the Lincolnshire Financial Inclusion Partnership contact

Our current partners are:

Download documents:

In The News

07/01/2016 - Lincolnshire Partnership wins Stop Loan Sharks award 
FIP receive a Highly Commended Award for their outstanding endeavours in raising awareness of the crime of illegal money lending.
PDF Download


09/08/2016 -  
FIP Position Paper
PDF Download

09/08/2016 -  
FIP Terms of reference
PDF Download

Minutes from previous FIP meetings

09/08/2016 -  
Minutes from 28th June 2016
PDF Download

05/12/2016 -  
Minutes from 13th October 2016
PDF Download

08/03/2017 -  
Minutes from 7th February 2017
PDF Download

02/10/2017 -  
Minutes from 21 June 2017
PDF Download

19/03/2018 -  
Minutes from 1st February 2018
PDF Download

14/01/2019 -  
Minutes from 29th November 2018
PDF Download

Latest News

Community news and information

Merger between Lincolnshire and Nottingham Credit Union
Following a year of careful planning, the transfer of undertakings between Lincolnshire Credit Union and Nottingham Credit Union is complete. Nottingham Credit Union will now trade as “The Notts & Lincs Credit Union” Originally scheduled for earlier this year, Covid19... read more

Important information for our members
At the recent Lincolnshire Credit Union AGM, members agreed to a merger with Nottingham Credit Union. We will merge on 31st July.
There will be some changes and we will post updates here and contact members with more information in due course.
We will close... read more

The Benefits of Saving Regularly
Something that has been pushed recently is having savings accounts. Which might seem like a little bit of a hassle when it comes to having more bank accounts to keep track of. However having a separate account for savings can be very beneficial, having a dedicated savings... read more