Fair for You Challenge to high cost credit ANGELA CLEMENTS, CEO TOM LEVITT, CHAIR, REGISTERED CHARITY

Social Impact  Savings : > £750k have been saved through 1127 loans comparison to BrightHouse, Perfect Homes or Buy as You View  The Long Term Social Impact lies at the extent to which FFY:  Moves people away from high cost credit use  Helps them to rehabilitate their credit score  Contributes to the difference that cost savings make to people’s everyday lives.  Outcome expected: Customers better able to pay their bills, heat their homes, feed and clothe their children, or obtain other essential items.  Next report is due September and then 6 monthly (funding ringfenced for next 2 reports and the data analyst role)

Wider Social Impact and Support  FFY is also interested in customers experiences and feelings compared to high cost lenders  If they are valued and treated with respect  The general impact in their well being  No anxiety associated with doorstep collections, losing items or penal costs  FFY directs people who have been refused a loan to Turn 2 US for:  Full benefit check  Hardship grant search  Outcome noted: 25% of people have followed the link to Turn 2 US  Outcome noted : there is pride and relief in being able to use FFY and walk away from Bright House et al

Price comparison: Church Action on Poverty To the customer that is 69 weeks v 156 weeks at £8.50 Brighthouse 1 FairforYou 2 New Hotpoint 60cm fridge freezer FFUL1812 £478.33£ Delivery and installation £55.00£ year warranty £133.93£ Total purchase price £667.26£ Weekly payments £8.50 Number of weeks APR 69.9%42.6% Total cost of credit £658.74£ Total payable £1,326.00£583.65

Price comparison: looking wider Fair for You VeryAO.com New Hotpoint 55cm fridge freezer FFAA52K £ £354.99£ Delivery and Installation £8.40 £14.99£29.98 Total purchase price £307.39£369.98£368.98

Why customers love it… feedback so far  Clear and transparent pricing  Clear and straightforward process  Rapid and efficient  Good choice of quality, branded and utility items  No added fees at any stage  No hidden costs at any stage  No late fees for missing payments just support  Responsive to requests  Service and organisation run for them and designed by them

FFY - Breaking myths ?  >40% of customers overpay  >85% of customers pay on time every week – above sector average (though early days)  Customers react well to being asked to choose a cheaper item  Customers understand entirely the proposition and the savings  Outcome noted: customers need better products not better education  With better options, customers will make better choices

Pay now button?  Allows customers to buy from us even if they don’t need a loan at that point  Allows those who support us to buy through us and help us with income to run our service and keep our costs low  Helps organisations promote us who are not keen to promote credit – even Fair for You credit  We are responding to requests to set up arrangements with charitable organisations, social landlords, councils and welfare trusts who want to buy items for their clients or tenants  & because we have driven out cost and are providing quality, branded, utility items – we represent a good deal to everyone

Coming next….  So much more to come, we are barely started  Good Payers Club starts in the Autumn – wider high street for returning good payers; with lower priced loans, and buffer facilities  More stores being added in the autumn - heating in particular  Non disclosed indemnity loan scheme for landlords and councils to provide better use of their money than a grant. Will help many that can’t get a loan to get onto the credit ladder

How to support Fair for You?  Tell everyone about us – facebook; twitter; share our newsletters;  Next time you need to buy something, check us out and if you can please buy through us Our doors are open, if you think you can add to our work, please talk to us