Third sector bank hits major milestone

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CAF Bank lent more than £100 million to charities in 2019. 

27th January 2020 by Gavin Stuart 0 Comments

CAF Bank has reached a major milestone after lending more than £100 million to third sector organisations in 2019.

The bank, owned by the Charities Aid Foundation (CAF), provides financial services to charities across the UK.

In its annual report for 2019, the bank highlighted its commitment to being the preferred bank for small and medium size charities, with all profits being reinvested in the sector.

Projects supported by the bank last year include redeveloping a 14 bedroom home to house homeless people in East Sussex and renovating a church in Putney to serve as a hub for the local community.

Alison Taylor, chief executive officer, believes the organisation is uniquely placed to serve charities’ banking needs.

“We’re owned entirely by a charity and as a result, specifically designed to understand and serve what thousands of charities across the country need from a banking provider,” she said.

“This £100m milestone is important for us. It shows our commitment to responsible lending to UK charities, despite an uncertain economic and geopolitical outlook.”

Last year CAF Bank identified three main priorities for the future: improving customer service, driving efficiency and deepening its social purpose lending. The bank will report on these priorities as they progress.