Samstag, 8. Juni 2013

A Different Bank




Charity Bank About:

Charity Bank was founded on the commitment to be a different kind of bank. We are not just a socially responsible bank: we use money ethically to improve people's lives. Here are some of the factors making us different:

positive change

Our ultimate goal is not to maximise profit, but to maximise impact on society. Our work to create positive social change distinguishes us from other banks. For us it is not about negative screening, it is about positive investing – funding project that improve lives. The difference we make, our social impact, is the heart of who we are.

transparency

Charity Bank is committed to openly sharing how we use our customers’ money. This includes publishing details of every loan we make – who we are lending to, and what they are doing with it. This way you can see for yourself how the organisations we support are changing the world for the better. 

community

Charity Bank is a community of depositors, investors, borrowers, and employees, who share the view that it is worthwhile to support small and medium charities on capital projects on a sustainable basis. We treat each member of our community as a partner in our work to create a better world.

social mission

Our corporate structure protects the social objectives of the bank. It allows us to focus on helping organisations transform people’s lives. It means we do not need to compromise on our social goals for shareholder profit. It also means we understand how charities and social enterprises work because we are a social business ourselves.

How working for Charity Bank is different: Steve Miles and Carolyn Sims explain how working for Charity Bank is different from their previous experiences in the world of commercial finance.





Charity Bank transfers assets to Charities Aid Foundation

The bank, which lends only to charities and social enterprises, has ceased to be a charity in order to meet banking regulations and continue its work

- This story has been corrected; please see final paragraph

The charitable assets belonging to Charity Bank have been transferred to theCharities Aid Foundation, its principal shareholder, after the bank ceased to be a charity on 31 May.

In a statement made today, the Charity Commission said that it had approved changes to the Charity Bank’s articles to allow it to continue to operate as a bank and assist charities. The bank’s income for the past financial year was £4.9m.

Changes to banking regulations mean that it is not possible for Charity Bank, which registered as a charity in 2002 and lends only to charities and social enterprises, to continue both as a charity and as a bank.

The commission said that under the Charities Act 2011, certain assets held by Charity Bank must continue to be used to further the charitable purposes of the former charity.

To make sure this happens, the assets have been transferred to CAF to be held on trust for the current charitable purposes of Charity Bank. More At ThirdSector

CharityBank.org
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