Working closely with Community Savings charity

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mydeposits Jersey and Community Savings, the Jersey charity that focuses on providing financial advice and support, are delighted to announce a local support relationship that will offer Jersey residents face-to-face advice on tenancy deposit protection.

From the 2 November 2015 new legislation comes into play that will require all landlords and letting agents to protect their tenant’s deposits with mydeposits Jersey, a scheme authorised by the States of Jersey to administer tenancy deposit protection.

All landlords, letting agents and tenants will have access to the mydeposits Jersey website and also a telephone call centre to fulfil their obligations but having a Jersey support network is key, according to Eddie Hooker, CEO of the scheme:

“Deposit protection is relatively straightforward but we fully recognise that sometimes nothing beats a face-to-face chat."

"Our scheme will predominantly operate from our headquarters in England which means landlords, agents and tenants in Jersey will benefit from over eight years’ experience of our trained call centre experts and support teams, however, our commitment to making this new scheme work by providing a local centre for one-to-one support is an important part of our strategy. We’ve been hugely impressed with the knowledge and professionalism of the Community Savings Jersey staff and volunteers.”

The drop-in service will launch on the 2 November 2015 and will enable Jersey residents to meet face to face with Community Savings staff and ask questions relating to tenancy deposit protection.

Stuart Stables at Community Savings said:

“We are really looking forward to be working with mydeposits. Members of our team will be visiting the mydeposits office in London over the coming weeks for a full training programme which will equip us to answer first line queries in relation to this new scheme. Community Savings principally exists to provide support and advice to those in financial need, but we see this new initiative as being a complimentary part of our focus on helping local residents with money matters”.

Minster for Housing, Deputy Anne Pryke also welcomed the decision:

“Mydeposits Jersey teaming up with Community Savings to deliver deposit protection is a great example of government, business and the community working together for the benefit of islanders. I believe that having a local office presence within the new Community Savings Bank premises will make the scheme even more accessible for landlords and tenants, and have a positive influence on the rental sector in Jersey.”

-ENDS-

For further information, please contact:

Jack Ojari
Marketing and Communications Executive
0207 840 8906
Jack.Ojari@mydeposits.co.uk

NOTES TO EDITORS:
About my|deposits Jersey:

  1. my|deposits Jersey is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver a custodial backed tenancy deposit protection scheme under contract from the States of Jersey
  2. my|deposits Jersey aims to support landlords and agents to comply with the legislation and provide everyone with the confidence that deposit money is held securely for the duration of the tenancy.
  3. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydepositsjersey.je
  4. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies.
  5. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.

About Community Savings Ltd

  • Community Savings Ltd is subject to limited oversight by the Jersey Financial Services Commission
  • Community Savings Ltd is classified as an “exempt person” under the Banking Business (General Provisions)(Jersey) Order 2002 subject to specific conditions
  • Community Savings Ltd has been established for charitable purposes within the terms of Article 115(a) of the Income Tax (Jersey) Law, 1961
  • Community Savings Ltd is a member of the Association of Jersey Charities (registration number 211)
  • Members deposits, placed by Community Savings Ltd with a Jersey bank, are covered by the States of Jersey Depositors Compensation scheme

Community Savings Ltd. was established in 2002 to offer account facilities, budgeting and mentoring support and, where appropriate, small loans and emergency funding to those individuals resident in Jersey who , for various reasons, cannot access mainstream banking facilities or gain access to emergency funding or support to manage their finances. One of the charity’s objectives is to run awareness campaigns focussing on Money Management and financial literacy issues. The ‘Money Management’ programme is designed to get participants thinking about how they feel about money and react to consumer advertising, branding and special offers and the importance of planning (and sticking to) a budget and saving.

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