About Black and Ethnic Minorities Financial Services (BEMFS)

Black and Ethnic Minorities Financial Services' (BEMFS) mission is to provide free financial services of the highest possible standard to local residents especially the black and ethnic minority groups, which will enable them to take control of their finances and address the hardships and barriers they face.

The aim of the organisation is to provide residents; especially those from black and ethnic minority groups, in areas of economic deprivation, in particular the EC1 area of Islington, in conditions of need, hardship or distress; with advice and information dealing with personal finances including savings, debt prevention and counselling, taxation, bankruptcy and other financial problems.

We will achieve this aim by:

•    providing a walk – in, free financial advice where individuals will meet with an Independent Financial Adviser (FSA member) and receive confidential advice and information with regards to their personal finances

•    providing a walk – in, free debt management and counselling services by an experienced Debt Adviser / Counsellor, for individuals already in debt

•    providing free monthly financial literacy workshops where participants will be guided through basic personal financial management such as budgeting, reducing debt, savings and how to prioritise spending, so that the skills people need to address the financial difficulties they face are addressed and their economic future secured.

The inclusion of young people (16+) either directly through their attendance at financial literacy workshops where they can learn about budgeting and saving, or by encouraging parents to pass on newly acquired skills to their children, means this project has the potential to achieve long term benefits and improve the quality of  life for generations to come.

If young people can gain a firm understanding of basic financial management whilst they are young, they will be less likely to find themselves in a similar situation in years to come.