Supporting Financial Literacy and Money Advice
A strategic objective for the Group is to actively support, through financial contributions and other means, the delivery of financial literacy and money advice programmes across the UK.
In 2006, HBOS contributed almost £2.25 million to funding organisations such as the Consumer Credit Counselling Service which provide free debt advice services. In addition to this, in 2006 HBOS donated over £8m to the HBOS Foundation.
HBOS Foundation
The HBOS Foundation 
is an independent charity. The Foundation's two key themes are money advice and financial literacy and developing and improving local communities.
While other banks have concentrated on mainstream Financial Capability projects, the Foundation's focus has been on supporting projects for disadvantaged groups and communities, who are less likely to attract funding.
- Support is delivered largely through major grant giving to innovative projects that develop financial literacy initiatives at a grassroots level.
- Over 4 years the Foundation has funded a total of 26 financial literacy projects, investing over £3.25m.
- Nearly 50% of the Foundation's investment has been directed towards young and homeless people.
- From 2007 the Foundation plans to invest an additional £3m over three years, in addition to its current planned investment, to research and source a major flagship financial literacy programme.
Case study: Unlock
The HBOS Foundation is supporting Unlock , the National Association of Ex-Offenders, with £164,137 over three years. This money will enable Unlock to develop a simple one-day course to help category C and D prisoners to enter the banking system on their release with basic money management skills, budgeting and debt advice. The Home Office believes Unlock will potentially reduce the risk of re-offending, something it is tracking through the pilot schemes in Cockham Wood Women’s Prison and Coldingley Prison in the South East.
