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The future is ROSY for Trident’s residents

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The future is ROSY for Trident’s residents

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Published by Dawn Prentice for Dawn Prentice Communications in Communities and also in Care and Support, Education, Environment, Health, Housing, Universal Credit

Resident David Jones Resident David Jones

Trident Social Investment Group launched its ROSY scheme for residents in Birmingham earlier today.  In readiness for Universal Credit, the scheme offers Trident residents the opportunity to access a free online e-account and online vouchers and discounts. ROSY enables residents to save money whilst managing their finances effectively.

ROSY is an acronym for Rewards, Online, Savings for You.  Residents signing up for the scheme are able to access an online e-account and debit card. The online e-account enables residents to manage their money effectively by setting aside money into ‘jam jars’, for example for their rent or household bills.

Trident Social Investment Group is rolling out free wi-fi in Trident’s urban village (surrounding its offices in Birmingham), and free internet access from any of its community based offices across the Midlands, so accessing ROSY is even easier.  In addition, residents are able to access a range of savings and discount vouchers from stores such as Morrisons, Asda, B&Q and Homebase.

In follow up to a successful pilot which operated at two of Trident schemes, the social investment group has purchased the cards and is covering all the set up costs for three years.  Trident has a dedicated team of officers, who are fully trained in all aspects of Universal Credit and able to provide guidance and support to residents experiencing difficulties in managing their finances.

ROSY has appealed to residents with a higher disposable income too, who do not have to opt in for the online e-account but can still access the many discounts available.

As well as providing homes to 6,000 people across the Midlands, many of whom are the most vulnerable, the Trident Social Investment Group includes housing associations, charities and social enterprises placing a social investment ethos and collaborative community working at its core. In line with this approach, Trident has consulted with residents extensively on what Universal Credit means to them, how they might be affected and has raised awareness of the support available to them. 

The ROSY scheme is another way to ensure that residents, who are looking for work or on low income, are able to embrace the changes ahead and manage their money effectively.  Trident will ensure that residents are able to access the support of their money advice service to help residents to manage their finances effectively. As a community anchor, Trident’s main concern is to improve the quality of life of its residents, enhance their life chances and improve the cohesion of the communities in which Trident works.  

According to a new survey of working age social housing tenants affected by the welfare reforms conducted by Ipsos MORI, four in ten (40%) affected by welfare reforms don’t have internet access and two thirds (68%) of those who manage money on a short term basis are not confident  budgeting monthly.

Abigail Robson, Trident’s Chair of Housing said: ‘For our residents living on a low income, it is much more difficult to budget monthly rather than weekly.  These residents, many of whom have young families, are at a much greater risk of running out of money for several days at the end of the month, rather than a day at the end of the week.  Any support we can offer to residents make the transition to Universal Credit, will contribute towards sustaining their tenancies and helping them to manage their money effectively.’

Tony Clark, Trident’s Director of Housing said, ‘As a social investment group, we need to ensure that we take an inclusive approach to any changes that might affect our residents.  Our main concern with regard to Universal Credit is that our residents on low income might struggle to access the digital service.  We wanted to help residents to manage their finances without the worry of credit checks and people getting into debt.  ROSY has been designed specifically to assist residents and our Digital Inclusion Strategy is ensuring all residents have free internet access and free wi-fi in suitable locations.’

Trident resident, David Jones said, ‘There are lots of rewards for joining ROSY and I am going to be able to manage my money without worrying and qualify for discounts.’

Trident Housing is working in collaboration with inCahoot for Public Services to provide an account through which universal credit and any other income is paid onto a pre-loadable Visa card.  -ends–

www.tridentsocialinvestmentgroup.com

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