Lloyds Banking Group has launched a major initiative to combat the embarrassment that stops people from seeking vital money advice, awarding a series of new grants from a multi-million pound fund.
Breaking Down Barriers to Financial Help
The bank has confirmed that its four charitable Foundations have distributed grants from a joint £4.2 million Financial Resilience Fund. This substantial pot of money is supporting a total of 66 charities across the United Kingdom and the Channel Islands.
The core mission of the fund is to help individuals build the confidence and practical skills needed to manage their money effectively. The goal is to reduce dependence on high-cost debt and pave the way for long-term financial security.
This move follows joint research conducted earlier in the year, which identified stigma as a significant barrier to seeking support. The study found that over half of financially vulnerable people feel too embarrassed to ask for help with their finances.
Community Hubs and Charitable Impact
One of the grant recipients is the Citizen Hub movement. Its founder, Alex Hughes, commented on the research findings, stating: "The Financial Resilience research showed that stigma remains a major barrier for people seeking financial resilience support."
He explained how the Lloyds funding will be used: "This grant will enable the Citizen Hub movement to expand and strengthen our infrastructure, which bring together vital services such as employment support, skills development and debt advice."
Hughes emphasised the community-focused model, saying these hubs aim to be more than just advice centres. They are designed as welcoming spaces where people can connect socially, build relationships, and participate in wellbeing activities, all while accessing the support they need.
Senior Leadership Appointments Announced
Alongside this charitable announcement, Lloyds Banking Group has also revealed two key appointments in its leadership team.
The bank has appointed Amanda Murphy as the new Chief Executive Officer of Business & Commercial Banking (BCB). This division serves all micro, small, and medium-sized enterprises within the Group. Her appointment, which is pending regulatory approval, follows Elyn Corfield's decision to leave the Group in 2026 after nearly nine years to spend more time with family.
Furthermore, Sandra Prince has been named as the new Head of Consumer in the Corporate and Institutional Banking division, effective immediately.
Prince stated: "Consumer is an important and dynamic industry with evolving client needs, which I am passionate about supporting. I am thrilled to lead this talented team, and I look forward to delivering even more tailored solutions and strategic advice to support British businesses in their aims to evolve and grow."
