Right To Succeed’s Post

Today, Reclaim Fund are proud to announce that the UK Dormant Assets Scheme has reached £1 billion in distributions to good causes. This achievement highlights the collective impact of financial institutions across the UK who have partnered with RFL to unlock the potential in dormant funds. In the video, the RFL team commemorate this milestone with a visit to Right To Succeed, who receive funding through Youth Futures Foundation's Connected Futures programme, which sets out to transform the support offered to young people to raise 16-24 employment, education and training rates in Blackpool. Read more: https://lnkd.in/e6p2F8aR Department for Culture, Media and Sport Aviva Fair4All Finance Access - The Foundation for Social Investment Better Society Capital

'The funding we receive from dormant assets is providing people across the country with a stepping stone to financial resilience, improving their physical and mental health and enabling them to play a full part in their communities. The Dormant Assets Scheme is a great example of how industry can work together to use funds for the benefit of society that would otherwise lay idle. £1 billion is a big milestone and with the Scheme expanding to include other assets, there’s a real opportunity to make the next milestone even bigger as more firms come on board. With over 20 million people in financially vulnerable circumstances in the UK, the Dormant Assets Scheme is playing a vital role in delivering long term funding to increase financial inclusion and improve the lives of millions of people. We look forward to continuing to work with the Government and the financial services sector to deliver permanent change on this important issue.' Kate Pender, CEO at Fair4All Finance

Today’s announcement marks a significant milestone, with £1 billion from the Dormant Assets Scheme now distributed to good causes across the UK. Access's CEO, Seb Elsworth said "Through the work of Access and our partners, over 1,200 charities and social enterprises have benefitted to date from this transformative funding, enabling vital community organisations—often excluded from mainstream finance—to grow and thrive. This funding has also helped leverage additional funds from philanthropic and private sources. Thanks to the financial institutions that have chosen to participate in this pioneering scheme, the Scheme is able to stimulate economic activity in deprived areas and drive real impact across communities in need." https://lnkd.in/e4f9Nt6P

We're excited to announce the launch of a $7MM fund, in partnership with The Forward Fund as part of our growing Impact Program. This initiative offers alternative financing solutions for adult learners, helping them access higher education and workforce training to boost economic mobility. The Forward Fund provides 0% interest loans, starting with the Cape Fear Community College Electrical Lineworker Training Program. With millions of skilled trade jobs unfilled and 181 million Americans without degrees, this partnership is addressing critical workforce gaps and empowering learners to thrive. This partnership supports our mission to increase student income by $10 billion by 2028, bridging the gap between high-demand jobs and workforce readiness. Learn more about how we're driving change: https://ow.ly/8SyK50Upo7u #AscentFunding #ImpactProgram #EconomicMobility

 Big news! The David and Lucile Packard Foundation is investing $5 million into the Inclusiv Impact Deposits Fund, supporting 20 MDI and CDFI credit unions in underserved communities across Louisiana, Mississippi, and California. This funding will expand economic opportunities and strengthen financial resilience in historically excluded areas, fostering a more inclusive financial future!

#AD More than 17 million people in the UK are facing financial hardship, yet over £19bn in unclaimed annual benefits and grant funding are available. Lightning Reach is a financial support portal that makes it easy to find and apply for a wide range of personalised support (including grants, benefits, help with bills and other resources) in one place. They harnessed the power of #SocialInvestment through the Joseph Rowntree Foundation and others via the Growth Impact Fund to grow their team, build capacity and ultimately facilitate more support to people in financially vulnerable situations. "The social investment has enabled us to scale our work and impact, reaching over 100,000 registered users and facilitating over £10m in grants through the cost-of-living crisis (double since the investment last year).” Learn more about what they do and why, along with their experience of using repayable finance to grow and scale via this Good Finance UK case study 👉 https://loom.ly/BgsSTQY

Did you know 💡 More than 17 million people in the UK are currently facing financial hardship and yet there is over £19bn in unclaimed annual benefits and grant funding available. Lightning Reach is a financial support portal which makes it easy for people to find and apply for a wide range of personalised support (including grants, benefits, help with bills and other resources) in one place. They harnessed the power of #SocialInvestment through Joseph Rowntree Foundation (JRF) and others via the Growth Impact Fund to grow their team, build capacity and ultimately facilitate more support to people in financially vulnerable situations. "The social investment has enabled us to scale our work and impact, reaching over 100,000 registered users and facilitating over £10m in grants through the cost-of-living crisis (double since the investment last year).” Learn more about what they do and why, along with their experience of using repayable finance to grow and scale via our latest case study 👉 https://lnkd.in/dfrVMWka #SocInv #FinancialInclusion #SocialImpact #SocialFinance

Having been a supporter of the Dormant Asset Scheme from the start, it is great to see this finally cross the line after many years of hard work by industry participants, The Investment Association and Reclaim Fund Ltd. Well done also to John Allan, Jasveer Singh, Steven Doyle and many others who have worked to get this to a place that works for the investment management industry. The Financial Conduct Authority (FCA) have also clarified their views on CASS and Client Money - do have a read of the detailed rules. #CASS #clientmoney #investmentmanagement #dormantassets

Every parent wants to secure their child’s future. One of the best ways to secure your child’s future is through children’s mutual funds. A children’s fund is an open-ended mutual fund aimed at child-specific goals, like meeting educational expenses and healthcare. The fund usually has a mandatory lock-in period of 5 yr. It can be extended until the child becomes a major. Children’s funds can be considered a good solution-oriented plan to tackle the rising cost of education and other expenses. Moreover, investors cannot prematurely withdraw the money invested in the fund, making it an idle long-term investment.

🌟 Positive news for financial inclusion and social investment 🌟 We’re pleased that the government has reconfirmed the allocation of dormant assets in England to support financial inclusion and social investment. This is positive for CDFIs who are supporting financially excluded communities in the following ways: Increased access to fair finance: CDFIs have benefitted from some of the dormant asset funding. These resources have helped CDFIs to develop their products, improve efficiencies and as a result reach people that traditional lenders often overlook. Strengthening the social investment ecosystem: This funding reaffirms the government’s commitment to social investment, enabling CDFIs and other social economy organisations to scale their impact and promote a more inclusive economy. We’re excited to see this renewed support in action and look forward to working alongside the dormant asset organisations and other partners. #SocialInvestment #FinancialInclusion #CDFIs #DormantAssets #CommunityFinance https://lnkd.in/eYB2ah-6