In a world where every penny counts, choosing the right bank to safeguard your charitable funds is a financial decision and a moral one. If you are a charity seeking a purpose-driven financial partner, you’ll find a range of options available on our platform. One of these options is Charity Bank, which has a mission deeply rooted in creating positive social and environmental impact and an ownership structure that sets it apart as a beacon of responsible banking.
In this guest blog, Justin Hort, Director of Savings at Charity Bank, delves into the essence of Charity Bank, its distinctive business model, and unwavering support for charitable organisations and social enterprises.
At Charity Bank, we believe that money has the power to do good far beyond the balance sheet. Our mission is simple yet profound: to use the deposits entrusted to us by individuals, charities and socially-minded organisations to fund loans for other charities and social enterprises that are striving to create a better world. We understand that for charities, every pound saved and invested has the potential to make a difference, and that’s why we are committed to channelling these funds to where they are needed the most.
What sets Charity Bank apart is not just its mission but also its ownership structure. We are proud to be wholly owned by charitable foundations, trusts and other social purpose investors, which means that our focus is solely on maximising positive impact rather than maximising profit. This unique ownership structure ensures that every decision we make is centred around the well-being of the causes we serve, rather than the financial gain of a few.
It’s one thing to talk about positive impact but another to witness it firsthand. Thanks to the deposits made by charities, Charity Bank has been able to provide essential loans to a diverse range of charities and social enterprises, driving change and transforming communities.
Equine therapy charity SLTH had outgrown its premises and had to relocate. A new site was available, but £390,000 was needed for necessary improvements. A £70,000 loan from Charity Bank made it possible. CEO Rosie Bensley recalls, “Charity Bank was the only lender genuinely helpful. With the others, it was ‘Computer says no.’”
YMCA Together received grant funding for purchasing and renovating ten properties for those at risk of homelessness. Despite this, the charity needed an additional £800,000. Charity Bank proved to be the right fit. Jon Metcalfe notes, “With Charity Bank, it feels like a partnership, unlike the other banks we approached.”
A group of volunteers saved the Hill Street Youth & Community Centre from closure. The centre was revamped from a dilapidated, underutilised space to a thriving community asset. With a Charity Bank loan, the charity purchased the property and is building a new youth hub.
When you deposit your funds with Charity Bank, you’re not just safeguarding your finances – you’re actively contributing to a movement that empowers organisations striving for positive change. Our commitment to responsible banking and positive social change ensures that your deposits are put to work where they are needed most, supporting impactful projects and initiatives that align with your charitable goals.
In a world where money can be a catalyst for both good and bad, your choice of banking partner matters. Choose Charity Bank as your trusted ally in the journey to create lasting social and environmental change. Together, we can turn deposits into dreams, and funds into a brighter future for all.
Ready to make your charitable funds work harder for a better world? Select a Charity Bank savings product from our platform and become a part of a community of changemakers who believe in the power of finance for good. Together, we can amplify the impact of your deposits and shape a future that's driven by purpose and compassion.