#29: Sussex Money Matters: Tackling Debt And Building Trust

The Sussex And The City Podcast

– Episode 29:

Sussex Money Matters: Tackling Debt And Building Trust

Host: Richard Freeman
Guest: Emma Norledge - Deputy CEO, Wave Community Bank

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🔍 Episode summary

What if the future of devolution wasn’t just about power – but about money that stays in Sussex?

In this episode, Richard Freeman talks to Emma Norledge, Deputy Chief Executive of Wave Community Bank, a not-for-profit credit union helping thousands of people across East Sussex, Brighton and Kent access fair, local finance.

Credit unions aren’t really banks as we know them; they’re still fully regulated by the Financial Services Authority but act as people-powered cooperatives that keep savings circulating in local economies.

In an era of financial exclusion, payday loans and disappearing high street banks, Emma explains how Wave’s model of 'people helping people' is focused on transforming lives, from rent deposit schemes to small loans and financial education.

They explore what devolution might mean for community finance, why money and wellbeing are inseparable, and how a Sussex mayor could champion smarter, fairer funding systems that rebuild trust from the ground up.

“Credit unions get in your soul and you believe in what you do; and it's not an industry, it's a movement.”

 

This episode is brought to you in partnership with:

YMCA Downslink Group -

For over a century, the YMCA has been supporting young people across Sussex and Surrey. Every night, they provide safe housing for more than 650 young individuals facing homelessness, offering not just shelter but also the support needed to rebuild their lives.

Beyond housing, this charity delivers a range of services including mental health counselling through YMCA Dialogue, family mediation, and youth advice centres in Brighton & Hove and Crawley. Their e-wellbeing platform offers digital mental health resources tailored for young people. 

They reach over 7,000 children, young people, and families each year, helping them navigate challenges and achieve their potential.

To learn more or support their mission, visit ymcadlg.org.

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🎯 Why this matters

“Councils will come to us and say, ‘We’d like to do this – what do you think?’ And we might say, ‘Well, that won’t work for that reason, but we could do it this way.’”

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🧠 Topics covered include:

• What credit unions are and how they keep money local
• The evolution from East Sussex Credit Union to Wave Community Bank
• How local savings can finance local loans and community wellbeing
• The challenge of financial exclusion and the need for inclusive banking
• Partnerships with councils, advice networks and housing providers
• What devolution could mean for community finance and social investment
• How structural change might affect local accountability and support systems
• The role of credit unions in preventing crime and tackling loan sharks
• Financial literacy as a public health issue
• Lessons from Manchester’s ‘Sound Pound’ initiative for Sussex

“There hasn't been a bank in Newhaven for years… and that is an opportunity for the credit unions to step in and say, ‘We are here, and we do help you, and we do care.’”

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📚 Further reading and references

• Wave Community Bank
• Association of British Credit Unions (ABCUL) 
• Illegal Money Lending Team 
• Greater Manchester Credit Unions: Sound Pound Network

   

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🎧 Production credits

Host: Richard Freeman
Guest: Emma Norledge
Sound design / editing / original music: Chris Thorpe-Tracey
Production management: Letitia McConalogue
Recorded: On location

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📣 Get involved

Want a joined-up Sussex story? Want to help shape devolution so it actually works for people and places? 👉 https://sussexandthecity.info — episodes, resources and events.