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Michael Culloty,
MABS National Development Ltd
2nd Floor
Commercial House
Westend Commercial Village
Blanchardstown
Dublin 15
Tel: 01 8129519
Mobile: 087 7978966
E-mail: Press Officer
Commercial Debt Managament Services (MABS Press Release 9th Feb 2010)
MABS ndl Pre Budget Submission Budget 2010 
Donegal MABS EuroWatchers launched by Minister Hanafin (DSFA Press Release 25th Sept. 2009)
More Money Advisors to be appointed to 19 MABS offices (DSFA Press Release 11th August 2009)
Money Advice and Budgeting Service (MABS) Presentation to the Joint Oireachtas Committee on Social and Family Affairs on Levels and Trends in Personal Debt in Irish Society. (29th April 2009)
Minister Mary Hanafin T.D. launches MABS leaflet "Managing your Money this Christmas" (DSFA Press Release 31st Oct 2008)
MABS ndl Pre-Budget Submission. Budget 2009
Launch of "Get smart with your money" Educational Programme 25th Sept. 2008
Mortgage Arrears Advice (Press Release 11th August 2008)
Minister Hoctor launches new national MABS Helpline (DSFA Press Release 4th Oct 2007)
Back to School Costs a Burden for low Income Households (Press Release 7th August 2007)
Most Vulnerable not protected by The new Consumer Protection Code (Press Release 19th June 2007)
MABS Calls For More Credit Choices For Low Income Families (Press Release 2oth April 2007)
Statistics for 2006. Over 70% of MABS clients Live on Social Welfare (Press Release 4 Jan 2007)
MABS welcomes Combat Poverty Report on Financial Exclusion.(12th Dec 2006)
MABS services must actively target Travellers, delegation tells Minister Brennan (4th Dec 2006)
Combat Poverty Report On Financial Exclusion
The Money Advice and Budgeting Service (MABS) has welcomed the first ever study into financial exclusion in Ireland . It has found that improved access to financial services could help people on low incomes to avoid poverty by managing their money more effectively, accumulating savings and accessing affordable credit.
In welcoming the study MABS said that there are a significant number of people in Ireland who do not have access to financial services. A European survey in 2003 found that 46% of respondents in Ireland were without a current account compared with 19% average in the rest of the EU.
The study, conducted by the Combat Poverty Agency following an approach by the Financial Regulator explores the issue of financial exclusion in an Irish context and highlights some of the structural barriers that are inhibiting the access to and use of financial services in Ireland .
We welcome the recommendation in the study to have financial inclusion included in the forthcoming National Action Plan for Social Inclusion. We also welcome the finding that there is strong support from the unbanked for the provision of a basic bank account and a saving mechanism suitable for low income families.
MABS is of the view that a very effective way out of poverty and financial exclusion is the provision of a savings mechanism suitable to the needs of people on a low income. We welcome the call in the report that consideration should be given to the allocation of resources to develop and encourage a savings culture among low income consumers.
MABS believes that access to affordable credit is very important for low income families in order to meet the cost of unexpected expenditure. We welcome the efforts by some credit unions to design financial services suitable for low income groups.
It is recognised in the report that people on low incomes may also exclude themselves from the banking system. In some cases, this is because they lack the confidence to engage with banks or feel that banks are not interested in poor people. We are concerned in MABS that the measures used to implement the Money Laundering Directive has the effect of excluding low income consumers from opening bank accounts.
MABS fully supports the recommendation that the Financial Regulator should continue to develop its education programme. As well as developing its own educational initiatives MABS are proactive in their support for the educational initiatives of the Financial Regulator.
Note to Journalists :
The Money Advice and Budgeting Service (MABS), funded by the Department of Social and Family Affairs, is a free, confidential, independent and non-judgemental service for people in debt or at risk of getting into debt. There are 62 offices nationwide staffed by professional money advisers who:
• Provide a confidential, independent and free money advice and budgeting service, mainly to low income families who are in debt or who are at risk of getting into debt.
• Facilitate low income families to develop the knowledge and skills they need to avoid getting into debt and to deal effectively with debt situations which arise.
• Identify sources of credit that best meet the needs of the target group and facilitate them access these sources.
• Highlight changes in policy and practice that need to be implemented at local and national level to eliminate poverty and over-indebtedness.
• Contact creditors on a person's behalf where necessary .
MABS Services for the Traveller Community
The Money Advice and Budgeting Service (MABS) must tackle the very low level of access by travellers to its services, a delegation from National Traveller MABS told Minister for Social and Family Affairs, Mr Seamus Brennan, TD, when presenting him with a report on the matter in Government buildings, today, Mon. 4th Dec. (10.30am).
"From National Traveller MABS experience Travellers are not accessing money advice services at the same rate as the settled community. Local MABS are failing to reach one of the most excluded ethnic groups in Ireland ,” said Nancy Power, National Traveller MABS Co-ordinator.
Recent statistics reveal that one in six travellers (16%) had debts to illegal moneylenders. One in 10 had a problem with legal debt while the same number needed financial assistance with an immediate crisis.
Given that many Travellers are effectively excluded from mainstream financial services, local MABS should play an active role in providing financial advice to Travellers, Nancy Power says.
“Christmas is often a time of immense financial strain for many families. Traveller families are even more at risk of having to turn to illegal moneylenders to provide for their families over Christmas and at other times of huge financial demands such as weddings and funerals. MABS must play a full and proactive role in tackling this problem," Nancy Power says.
National Traveller MABS will present the Minister a copy of a new Report: “A resource publication designed for MABS offices nationally on Traveller Population and Accommodation in Ireland .” The report maps out official traveller accommodation on a County-by-County basis and has been produced to assist local MABS offices to target Travellers in their specific catchments areas.