Consulting the community

Purpose The purpose of this article is to highlight the multifaceted nature of financial exclusions, the range of potential needs that require addressing via financial inclusion policy and grounded initiatives, and emphasise that future “new models of affordable credit” must be framed by, and embedded in local communities. Design/methodology/approach Documentation and analysis of an innovative participatory consultation that explored the perceptions and financial needs of a local population through use of participatory appraisal is used, one of a growing family of participatory approaches that is recognised as taking a “whole community approach” to conducting action research. Findings Provides evidence of the range of services actually available to the “financially excluded” in a so‐called disadvantaged area, reasons for their use (or lack of), and the needs, wants, and/or desires to be fulfilled by any local “ideal” form of financial service provision. Research limitations/implications The research suggests any financial inclusion solution must be sensitive and responsive to the varied circumstances and multifarious financial needs of local communities – one‐size‐fits‐all models of financial inclusion will have limited success due to the heterogeneous local manifestations of financial exclusions, the variety of perceived needs, and the variances of both of these over space and across social groups. More research is needed in other locations to explore geographical/social differences in such problems and needs. Originality/value This paper presents the findings of an innovative participatory consultation used to directly underpin and inform a local financial inclusion initiative.