Computershare is to support the work of both The Money Charity and the Institute of Money Advisers (IMA) in the first round of funding from its new Loan Services Charity Donations Fund.
The third-party mortgage servicer announced the creation of the £20,000 fund to help prevent financial hardship and support those experiencing money problems in September last year, committing to donating up to £5,000 to good causes every quarter.
£2,500 in funding for The Money Charity will be used to provide 5,000 free copies of its Student Money Manual to people aged between 16 and 18, while the IMA will use a £2,500 donation to train 22 money advisers, enabling them to deliver high quality and accurate advice to people with problem debt.
Andrew Jones, chief executive officer at Computershare Loan Services, said: “Our charity fund is designed both to help prevent financial hardship and to support those who experience it, and I’m pleased that our first round of funding will help meet both these aims.
“It’s vital that we reach out to young people to help them understand their finances early in their lives, and The Money Charity’s Student Money Manual provides valuable advice that can help shape their ability to manage their finances and make informed decisions about their futures.
“Additionally, by funding the IMA’s crucial work in training advisers across the country, I’m sure we will help thousands of people struggling with money to recover from debt and achieve a better standard of living in the future.”
The IMA is a professional body that aims to assure quality in the money advice profession; developing professional standards, providing support services to IMA members, promoting free money advice and influencing policy and practice relating to money advice and personal finance.
Funding from Computershare will enable advisers to gain skills and knowledge and deliver better advice to those that are struggling.
The Money Charity aims to help anyone of any age to manage money: to be on top of it and as a result have more control of their life and better wellbeing.
The free copies of its Student Money Manual will be given specifically to young people who attend schools with “more vulnerable” student groups.