Wave Community Bank has joined the national Coalition to End Gambling Ads (CEGA) in a stand against the spread of harmful gambling promotions.
Wave Community Bank has seen an increase in loan applications, that it had to decline because of excessive gambling, up by 11% in 5 years, indicating the scale of harm occurring amongst the community.
Recent government statistics show 2.7% of UK adults – around 1.4 million people – have a gambling problem. The Department of Health and Social Care estimates that between 117 and 496 suicides each year in England are linked to gambling.
The gambling industry spends around £2 billion a year on advertising, embedding gambling into everyday culture and exposing millions, including children and young people, to harmful marketing.
Wave Community Bank joins more than 40 organisations calling for an end to gambling promotion, including the three leading public health bodies in the UK, 15 local authorities, as well as charities, sports clubs, and Riverside Credit Union.
Emma Norledge, Deputy CEO of Wave Community Bank said:
“The increase in gambling we are seeing by our members is a great concern to us. We are declining more loan applications than ever based on excessive gambling as this behaviour makes the loan unaffordable to applicants.
“We want to help people access affordable loans and build their savings but gambling is preventing this. We hope by partnering with CEGA, we can help stop the spread of gambling and support our community improve their financial resilience and reach their goals.”
Will Prochaska, Director of the Coalition to End Gambling Ads, said:
“The rising number of people refused credit due to gambling is a massive concern, and we know that the people who are harmed will have been lured in by clever advertising and promotions.
“Wave Community Bank should be celebrated for its proactive stand – joining the national fight against harmful gambling advertising, and we look forward to more Credit Unions taking their lead.”
Join Wave Community Bank in supporting the call to end harmful gambling advertising and help create a healthier future for our communities
