Tonbridge-based Charity Bank has celebrated turning 15 this October.
Patrick Crawford, Chief Executive at Charity Bank, comments: “Fifteen years ago we began our journey as an independent ethical bank, providing loans to charities and social enterprises with the support of our very first savers. Since then we have provided over £195 million of loan finance to social sector organisations, touching the lives of more than one million people. Our goal is to provide more loans to more organisations working to enrich and improve society.”
To support its growth, Charity Bank has launched a new savings account for charities and businesses. Its Ethical Easy Access Account offers a competitive rate of interest (0.50% gross/AER) to organisations looking for same-day access to deposits and the knowledge that their money is being used to make a positive difference. All eligible deposits up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.
Money saved with Charity Bank is used to provide loans to support the work of charities and social enterprises across the UK. It is currently providing loans to 22 organisations across Kent and East Sussex. This includes Folkestone Sports Centre Trust, a social enterprise working to make sport and leisure activities available to people who might otherwise struggle to access them for financial or social reasons. When its centre needed updating, a Charity Bank loan was used to complete the first phase of a major renovation and helped to attract funding for the project’s next phase.
The 65 Charity Bank staff based in Tonbridge have also served the Kent community in other ways over the past 15 years. With a policy that enables employees to spend 50 of their contracted hours volunteering, many local projects have been supported.
For more information on Charity Bank visit www.charitybank.org.