Gatehouse Bank partners with UK charity, Young Enterprise, to support financial education for young people
Gatehouse Bank has today announced a multi-year partnership with Young Enterprise, a national financial and enterprise education charity committed to empowering young people in the UK by equipping them with the skills, confidence and mindset needed to succeed in life, including managing their money well.
Spanning a three-year period, the partnership will involve Gatehouse Bank working with three schools based in communities local to the Bank’s colleagues and offices through the Young Enterprise Centres of Excellence programme. Following this, a bespoke financial education resource which incorporates Islamic finance will be created. The resource will draw on the direct experience gained from working within these local schools and involve regular, meaningful engagement from colleagues across the Bank. This will include inviting colleagues to get involved and training them to deliver this new resource in the final year of the partnership.
As part of Gatehouse Bank’s commitment as a founding signatory to the UN Principles for Responsible Banking, financial education and inclusion is a key component of the Bank’s ESG strategy. As part of this, Gatehouse has achieved its target of increasing the percentage of young savings customers aged between 18 and 30 from 3% in 2021 to 10% by the end of 2025.
Through its partnership with Young Enterprise, Gatehouse Bank aims to build on its current progress and create an even more significant and lasting impact on financial education and inclusion in the UK.
Charles Haresnape, CEO of Gatehouse Bank, commented: “This week marks Talk Money Week, an annual occasion dedicated to advancing financial education and inclusion. Our new partnership with Young Enterprise is an exciting opportunity for the Bank to support young people who may not feel confident managing their finances and to introduce the concept of Islamic finance at an early age.
“This will not only help to remove lingering misconceptions about the industry but ensure that more people feel equipped with the right skills and knowledge to choose the financial products that best suit their needs and values now and in the future.”
Sarah Porretta, CEO of Young Enterprise, said: “We are really excited to be partnering with Gatehouse Bank, an organisation that shares our belief in the importance of financial education and inclusion, and our vision to ensure more young people feel empowered to make the right choices about their money.
“Through developing close relationships with local schools and drawing on the extensive knowledge of colleagues across the Bank, we are confident that the three-year programme will be beneficial to help young people develop teamwork, problem-solving and money skills that last a lifetime.”