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Richard Norrington, CEO, takes part in prison Money Management programme

8 Nov 2017

2 min read

Added: 8 November 2017

Ipswich Building Society CEO takes part in prison Money Management programme

Support for financial literacy by Richard Norrington at HMP & YOI Hollesley Bay

Ipswich Building Society CEO, Richard Norrington, has visited HMP & YOI Hollesley Bay prison to deliver a session from the Society’s bespoke Money Management programme, a scheme designed to support financial literacy for those facing imminent resettlement. HMP & YOI Hollesley Bay is a Suffolk based category D adult male prison with a focus on reducing re-offending.

Richard, who was appointed CEO at Ipswich Building Society on December 1st 2016, made his first financial education visit with the Society’s Financial Education Assistant, Stacey Bunn, and Member Assistant, Chloe Lock.

The Society’s Money Management sessions are focused on skills relating to making better informed decisions about finances. Prisoners are taught essential financial terms, about different methods of payment and how to work out tax and budget their money. The session at HMP & YOI Hollesley Bay  was tailored to meet the diverse needs of the prisoners who varied in age, background and level of education.

As part of its commitment to financial education, Ipswich Building Society regularly visits HMP & YOI Hollesley Bay, HMP Warren Hill and HMP Highpoint to deliver Money Management sessions. The programme, which was created in collaboration with the prisons’ reducing re-offending teams, is a key focus of the Society’s community outreach.

Richard Norrington, CEO at Ipswich Building Society, commented “Money Management has an important role to play in the whole resettlement experience faced by prisoners, helping to reduce the risk of reoffending by teaching basic financial literacy and life skills.

“A large part of being a mutual for Ipswich Building Society is about the community links we maintain, giving something back to our heartland area, in Suffolk and beyond, and this is why financial education remains a key part of what we do.”

Ipswich Building Society has been committed to financial education for the past 10 years and has an objective to reach 5,000 students with face to face financial education this year alone.

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