Money Advice and Financial Literacy

This funding stream has a strong link to HBOS businesses, to provide support to everybody, irrespective of class and age. Financial literacy is often, but not exclusively, linked to educational attainment, and generally it is the most vulnerable groups of society that need help, providing them with an understanding of financial matters so that they may take effective decisions regarding money. For example, the HBOS Foundation will support organisations in promoting financial awareness and money advice.

While other banks have concentrated on mainstream Financial Capability projects, the Foundation's focus has been on supporting projects for disadvantaged groups and communities, who are less likely to attract funding from financial services companies. The Foundation also supports large, flagship projects with charities such as Citizens Advice and National Debtline.

The Foundation deliberately searches out projects which are distinctive, impactful and address the main concerns of our stakeholders, and which provide volunteering opportunities or which have a good fit with HBOS plc business e.g. in geographical areas adjacent to HBOS plc centres of employment.

In adopting this approach the Foundation aims to make a distinctive contribution to the FSA national strategy for financial capability, whose purpose is to reach 'millions of individuals' across the UK and persuade each of them to learn more about personal finance.

The Foundation's vision is that informed, educated and more confident citizens will be able to take greater responsibility for their financial affairs, playing a more active role in the market for financial services and be a less vulnerable customer.

In its charter, the Foundation has stipulated that its aim is to provide support for people of all ages to improve their understanding of financial matters and their ability to manage money.

Since it was established in 2002, the Foundation has invested over £5 million in financial literacy projects with partners such as National Debtline, CAB, and the Big Issue Foundation.

Developing and Improving Local Communities

The HBOS Foundation is also committed to helping people and agencies in the voluntary sector to improve communities and the lives of individuals.

For example:

• Social Inclusion
  Projects that bring people back into the community who have been excluded, e.g. the disabled, the elderly and ethnic minorities.
• Life Long Learning
  Enhancing learning opportunities across all age groups and sectors e.g. mainstream education, second chance education, special needs provisions, life skills training etc.

If projects fall within these criteria, the Foundation could also fund investment in new forms of technology to support the charities' administration and marketing programmes. For example, funding the development of Internets, Intranets or video based technology where there are clear financial benefits for the charity to do so.

In 2007 the HBOS Foundation funded "The Reach for Excellence programme" workingwith The Sutton Trust and Leeds University to develop a joint education programme in Yorkshire. This programme will support able young people from disadvantaged backgrounds in Yorkshire to gain a place at a top university and will be the most comprehensive university access programmes of its kind in England.