Launched in June 2023, the Vanquis Banking Group Foundation aims to improve the lives of children and young people in the communities we’ve served since 1880 by providing them with access to education, social, financial inclusion and economic development opportunities.
Through our longstanding commitment to support the communities where our customers live and work, we understand the importance of supporting local community, voluntary and not-for-profit organisations that have positive impacts.
Our vision for the foundation is to help build a future where every child and young person in the UK is supported to achieve their full potential, contributing to a brighter future.
Our mission is to improve the lives of children and young people by providing educational and social development opportunities which support financial and social inclusion.
This mission is aligned with the five UN Sustainable Development Goals that we prioritised to support which relate to: No Poverty, Quality Education, Gender Equality, Decent Work and Economic Growth and Reduced Inequalities.
Influencing Positive Change
Through our Foundation’s investments, charitable giving and time, we support voluntary, charity, social enterprise sector organisations, as well as partners in the education space to deliver positive change in our communities.
To influence positive change, we work with schools, colleges and community partners to address some of the root causes which makes someone socially or financially excluded. This can include supporting issues that prevent access to education and work, breaking down barriers to skills development, helping people to achieve personal growth, or helping to improve wellbeing or living environments.
Our Foundation seeks to address the root causes of financial and social exclusion by focusing on three key strategic pillars:
• Education - We back programmes that boost literacy and numeracy rates and offer insights into the world of work and the skills needed to secure opportunities.
• Community - We support social and financial inclusion in the communities where we operate.
• Financial Inclusion Advice - This work funds a range of money advice, debt management and financial education organisations who support our customers and other consumers to make the most of their financial options.
Focussed Support
Education is a key driver of social mobility and so we support programmes through our charity partners in local schools to help develop literacy and numeracy skills. This will help young people become more confident and improve their likelihood of becoming more financially included in society as they grow. We also provide insights into the world of work because we want young people to have the skills and knowledge to reach their potential and to go on to secure fulfilling careers, whether that’s with us or elsewhere.
We also work with Community Foundations, which enables us to leverage their local knowledge and expertise to help address core needs in our communities. Through these partnerships, we can contribute to the support and development of spaces where children and young people can access opportunities that enable them to participate meaningfully in society. This approach gives us the confidence that we’re directing our funding to the places where it’s needed most - to the grassroots voluntary organisations who are trusted by their communities.
Vanquis Banking Group’s focus is to deliver responsible financial products and services that meet the needs of our customers.
We also work collaboratively with money advice and other voluntary sector partners to help address the barriers to financial inclusion that exist in our communities, as well as to improve the experience for our own customers.
Social mobility refers to the link between our starting point in life and where we end up.
When our starting point strongly determines where we end up, mobility is low so for example, if your parents held professional jobs then it’s highly likely that you will go into a professional job, whereas if your parents had lower paying jobs then you are likely to also go into a lower paid job.
But if people from all starting points and backgrounds have a good chance of achieving any outcome, then mobility is high.
We know that colleagues want to work for a business that supports them to make a positive and meaningful impact in their communities. That's why we provide support and tools for colleagues to engage in a variety of ways.
Our Volunteering and Matched Funding Policy helps all colleagues across the Banking Group to take part in volunteering opportunities. Colleagues can take a full day’s paid leave to volunteer for a community organisation or charity of their choosing, and additionally, we offer a number of Company-led opportunities to colleagues through our Social Impact Programme. There's no limit on how much Company-led volunteering colleagues can take part in.
Vanquis Banking Group’s focus is to deliver responsible financial products and services that meet the needs of our customers.
We also work collaboratively with money advice and other voluntary sector partners to help address the barriers to financial inclusion that exist in our communities, as well as to improve the experience for our own customers.
Social mobility refers to the link between our starting point in life and where we end up.
When our starting point strongly determines where we end up, mobility is low so for example, if your parents held professional jobs then it’s highly likely that you will go into a professional job, whereas if your parents had lower paying jobs then you are likely to also go into a lower paid job.
But if people from all starting points and backgrounds have a good chance of achieving any outcome, then mobility is high.
We know that colleagues want to work for a business that supports them to make a positive and meaningful impact in their communities. That's why we provide support and tools for colleagues to engage in a variety of ways.
Our Volunteering and Matched Funding Policy helps all colleagues across the Banking Group to take part in volunteering opportunities. Colleagues can take a full day’s paid leave to volunteer for a community organisation or charity of their choosing, and additionally, we offer a number of Company-led opportunities to colleagues through our Social Impact Programme. There's no limit on how much Company-led volunteering colleagues can take part in.
Our Foundation currently works with the following organisations, among many others:
- National Numeracy
- School Home Support
- Outward Bound Trust
- Ahead Partnership
- National Literacy Trust
- Leading Children
- Chapter One
- Give Bradford
- Hampshire and Isle of Wight Community Foundation
- Kent Community Foundation
- London Community Foundation
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