Brave | Curious | Resilient / www.cicm.com / <strong>October</strong> <strong>2023</strong> / PAGE 26
FINANCIAL SUPPORT Benevolent thinking The CI<strong>CM</strong> is relaunching its Members’ Financial Support Fund. AUTHOR – Sean Feast FCI<strong>CM</strong> THE current economic uncertainty and cost-ofliving crisis have created hardship for many people, young and old, able or less able, wherever you may sit on the social scale. Every so often, any one of us may need a helping hand, a benevolent gesture, to get us through a difficult period. It was with this in mind that almost 30 years ago the Institute of Credit Management – as it was then – set up the Benevolent Fund to assist members and former members of the Institute, or their dependents, who are ‘in conditions of need, hardship or distress’. Now that fund is being rebranded and relaunched as the Members’ Financial Support Fund. Since its original launch back in 1994, the Fund has come to the assistance of many different members with varying needs. It has helped finance the purchase of a mobility scooter for a disabled member and fund the studies of the daughter of a member who became unexpectedly ill. It has financed the purchase of computer equipment to assist an unemployed member set up a business and contributed towards the purchase of an orthopaedic bed for one member whose condition was thereby greatly eased. It has even helped with payment for a drug, not available on the NHS, for medical treatment. The fact that even more people haven’t been helped over the years is primarily due to a lack of awareness; although signposted and easily visible on the CI<strong>CM</strong> website, it is still largely unknown. It’s why the Institute has appointed Peter Wallwork FCI<strong>CM</strong>, to Chair the Committee who consider applications, and to spearhead a new campaign and a rebrand. “The Fund is a tremendous benefit to members and their families, but not enough people know about it,” Peter says. “This has two impacts: firstly, it means we’re not getting help to people who might desperately need it, and secondly we’re not attracting donations from corporates or individual contributions and legacies that would mean we could help even more people though a potentially difficult period in their lives.” The application process for funding is easy; there is a simple form to complete to explain your circumstances and how the funding would be used. Peter admits it’s difficult to be prescriptive about what might/might not be considered, but that should never put off members from applying if they are facing genuine financial hardship: “Sometimes even a few hundred pounds can make all the difference,” he says, “and we recognise that. “From the examples we’ve already given, you can see a diverse range of needs we’ve been able to accommodate, from technology to life-enhancing medication, and corporate donors especially can see how any contributions they make very much fit within the ‘S’ of their Environment, Social and Governance (ESG) policy.” The Members’ Financial Support Fund is just one of a range of member support services available through the Institute that includes technical, business or legal advice. If you need support, or would like to support other members, please email governance@cicm.com or go online at https://www.cicm.com/member-adviceservice/ and find out more. “Sometimes even a few hundred pounds can make all the difference, and we recognise that.’’ – Peter Wallwork FCI<strong>CM</strong> Brave | Curious | Resilient / www.cicm.com / <strong>October</strong> <strong>2023</strong> / PAGE 27
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