Our Strategic Partnership with MyBnk has been running since 2017, and we’re delighted to announce that we’re extending it for another three years, representing an additional investment of just over £1m and bringing our total committed funding to more than £2.9m.
So far, our grant has supported MyBnk to equip 3,000 young people with the budgeting skills and financial know-how to live independently through The Money House programme, a financial education programme for young people at risk of homelessness. Of those who have taken part, just 10% have rent arrears and only 3% have been evicted following the programme.
Our partnership will continue to support The Money House in London and Birmingham, aiming to increase the financial literacy skills of approximately 1,505 young people at risk of homelessness.
We’re proud to support the evolution of the programme as it strives to meet the changing needs of the young people it serves. The new, dynamic delivery model has flexibility at its heart – offering participants a choice of modules and a mix of virtual and in-person courses. MyBnk will also deliver the course in the community, meeting young people where they are at.
We’re equally excited to support MyBnk to launch a new lived-experience panel. This is a fantastic opportunity for young people facing homelessness to shape programme content and its delivery model. The panel will also support research into the financial resilience of young people at risk, exploring key factors that influence young people’s ability to achieve financial independence. The findings will be published alongside a joint campaign and will aim to drive change and raise wider awareness.
Alongside funding, the partnership also offers a great range of volunteering opportunities for Berkeley staff. So far, colleagues have helped to deliver financial workshops in both London and Birmingham. This spring, we have a series of financial sessions lined up where staff can help to train young people become informed consumers and mindful spenders. We’re also working with MyBnk to outline other opportunities for volunteering over the next three years.
You can read more about the impact of our partnership to date in our latest Annual Review.