Purple Shoots is one of five organisations selected to take part in the Savers Support Fund. Savers Support Fund is a fund from innovation foundation NESTA and the Department for Digital, Culture, Media and Sport, that will scale innovative social action programmes that improve money management skills and reduce debt for individuals and families in England.
Savers Support Fund forms part of a series of live funds from NESTA and Department for Digital, Culture, Media and Sport to mobilise volunteers alongside public services and scale up the most impactful interventions that change lives. You can find out more information about Savers Support Fund here: http://www.nesta.org.uk/project/savers-support-fund
Our funding is to help us establish our self-reliant groups in a new area – the Savers Support Fund operates throughout England but not Wales so we have established a satellite operation based in Gloucestershire aiming to establish our groups around Gloucester, Cheltenham and Bristol.
Our groups offer people who have been left behind by our economy and have become isolated or marginalised, a chance to re-engage, to develop skills and confidence and to explore and test out ideas for income generation. The groups save together and this money, plus anything they earn from income generating activities forms a building pot of finance for the group to use however they decide to – it can be used to lend to each other in crises and thus keep individuals away from predatory lenders, or to develop their income generating ideas or generally to improve the economic circumstances of their members. We have some brilliant, successful groups in Wales and we are hoping to replicate that success in England.
To do this, we have two new Purple Shoots team members – Mike Lewis and Lesley Dodwell, based in the area and working hard to spread the word about the groups and to help people get together to set them up.