Annual report and accounts - Cattles Limited

More documents

Recommendations

Info

12 Cattles plc Annual Report and Financial Statements 2004 Report on Corporate Social Responsibility For the year ended 31 December 2004 Cattles provides a personal and flexible service to over 650,000 customers in local communities throughout the United Kingdom. We are committed to the principles of Corporate Social Responsibility (‘CSR’) and these are integral to our business and reflected in our Mission and Goals. As responsible lenders, we aim to create our products in line with the needs of our customers, whilst achieving open and honest relationships with our stakeholders. We seek to create a motivating and supportive culture for our employees and take an active role in the communities in which we live and work, whilst minimising our impact on the environment. We reflect these principles through our CSR programme and a family of policies relating to our business activities, our workplace, our interactions with the community and environmental management. The Cattles Board recognises the benefits that a sound CSR programme can bring to the business and has appointed Mark Collins, Director of Treasury and Risk, with overall CSR responsibility. Through its twice-yearly risk management reviews the Board identifies and assesses significant risks to the business, including reputational and financial risks arising from CSR matters. Day to day CSR activities are co-ordinated by the Cattles CSR Committee, headed by Greg Stevens, Director of Corporate Affairs, and supported by Jayne Johnson, CSR Manager. Throughout 2004, we have implemented a number of initiatives to address the key risks and opportunities for our business. We have continued to develop our partnerships with Credit Action and DebtCred to support financial literacy programmes across the UK. Our community projects have been enhanced and this has assisted in strengthening our links with Business in the Community. We have also formalised our approach to environmental management and are actively targeting our key impact areas. Since its inception, Cattles has remained a member of FTSE4Good, and we continue to engage with its shareholders and key research agencies on CSR issues. During the year we have received a number of awards, including the presentation of the ‘HRH The Prince of Wales’ Ambassador Award for Yorkshire and Humber’ to our Chief Executive, Seán Mahon, for his leadership and action in the area of CSR, and particularly his work with Leeds Cares. The first of its kind, Leeds Cares has become a model for 25 other Cares’ partnerships now established in cities and towns in the UK. In 2004 Seán stepped up to the role of chairman of the National Cares’ Leadership Team and Yorkshire Cares, bringing to an end his five-year chairmanship of Leeds Cares. “I am extremely honoured to receive this award. Over the coming year I am looking forward to continuing to play a role in leading and publicising the cause of corporate responsibility, and engaging more businesses to become committed to working closely with their local communities through Leeds Cares.” Seán Mahon, Cattles CEO Responsible Lending and Borrowing At Cattles, we are committed to responsible business practices and in particular to responsible lending and borrowing. In recent years, increased credit card debt and mortgage borrowing have dominated growth in consumer credit. Cattles’ product range does not target these areas, it is focused on a few key markets, for which we have
Cattles plc Annual Report and Financial Statements 2004 13 adopted appropriate, bespoke screening and lending criteria. Contributing to the work of our trade associations (FLA, CCA and CCTA) and responding to governmental consultations means that we are instrumental in shaping future policy on responsible lending. We welcome government collaboration on the DTI’s 2004 Tackling over-indebtedness action plan and support the work of the recently formed Financial Inclusion Task Force. We are proud of our approved FSA status and are committed to maintaining the standards required and expected of us by the FSA and the Code of Practice of our trade associations. To help in this aspect, we have developed our own operating procedures which outline minimum standards for customer service, employee behaviour, recruitment and sales and marketing practice. We also measure the ongoing effectiveness of our performance through independently obtained customer and employee feedback. Cattles believes in raising standards in financial education. We support new regulations for the provision of pre-contractual information and in doing so we will ensure that our customers receive the key information they need in order to make an informed choice. Last year we committed to providing financial support for Credit Action and DebtCred, two national money education charities working to improve financial literacy throughout the country. Our financial commitment in support of these two organisations continues and during 2004 we have provided a further £75,000 and £30,000 respectively. We remain a Fair Share partner of the Consumer Credit Counselling Service (‘CCCS’) who provide free independent advice on debt management to consumers. Our relationship with Credit Action has strengthened throughout the year and our commitment goes beyond financial support. Our collaborative relationship has brought Credit Action market growth and allowed them to extend their reach to those areas where it is needed most. Using and building upon the range of Money Management publications, they provide valuable information for target audiences. In particular this year, their focus has been on students, school leavers, single mothers and new recruits to the armed forces. They work tirelessly to raise awareness nationally of the issues surrounding sub-prime lending. They are active participants on government committees and during 2004 Cattles has shared several platforms with Credit Action to encourage a greater understanding of our sector and the importance of improving financial literacy. DebtCred is the High Sheriffs’ financial literacy project, which offers support and teaching aids for schoolteachers. The Pfeg accredited student book and teacher resource pack ‘Serious Money’ and ‘Using Serious Money’ look at the skills of dealing with money in a modern society, aimed at young people about to leave school and who have a range of decisions to make about their future. The teacher’s resource pack contains lesson plans, activity sheets and information about understanding the proper and responsible use of money and credit. DebtCred currently operate in nine counties and are actively pursuing opportunities to engage schools throughout the UK. Our People The dedication, skills and professionalism of our employees are a considerable factor in the success of our business. It is important that we provide our employees with a positive and
Page 1 and 2: Cattles plc Annual Report and Finan
Page 13: Cattles plc Annual Report and Finan
Page 65 and 66:
Cattles plc Annual Report and Finan
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
show all

Annual report and accounts - Cattles Limited

Create successful ePaper yourself

Delete template?

Save as template?