# Charity Bank announces outstanding growth - Link: https://fundraising.co.uk/2006/07/12/charity-bank-announces-outstanding-growth/ - Published: 2006-07-12T13:29:06+01:00 - Author: Howard Lake 11 July 2006   **Charity Bank agrees £50 million of loans to UK charities following bumper year** ## Advertisement   Charity Bank – the UK’s first not-for-profit bank – today announced that it has achieved exceptional growth in lending this year following an unprecedented rise in deposits in 2005.   Charity Bank has now agreed loans worth over £50 million to more than 500 enterprising charitable organisations across the UK, supporting a vast range of different community and social enterprise activities. These loans have also helped to unlock over £135 million of funding for voluntary and community activities.   Charity Bank recently revealed that its balance sheet totals had more than doubled to £38m during 2005 and have since grown to over £40 million. Much of this growth has come from Charity Bank’s Community Investment Tax Relief (CITR) savings account, which gives savers outstanding financial returns while allowing them to finance hundreds of UK charitable causes but charities are also becoming depositors with the Bank, increasing mutuality in the sector.   Charity Bank, which is a registered charity and a fully regulated bank, was publicly launched in October 2002. It uses savers’ deposits to provide affordable loans to charitable organisations that do not have easy access to mainstream lending. This has enabled hundreds of different charitable organisations to become financially stronger and to deliver programmes when they are most needed.   Malcolm Hayday, Chief Executive of Charity Bank, said: We are very proud of this achievement. Ten years ago we had £500,000 to lend. Reaching the £50 million lending mark demonstrates beyond any doubt that our belief in the need for affordable, flexible and specialist banking to serve charitable organisations was well founded.   Our growth in deposits and lending cements our position as a leading provider of finance for the voluntary sector and means that we can now look forward to an even stronger future financing the next generation of charitable endeavour.”   Loans recently agreed by Charity Bank include: £400,000 for Headcorn Village Hall to bridge receipt of grants for the building of their new village hall; £62,000 for Bishops Cannings Pre-School to enable replacement mobile classroom to be installed; £250,000 for Oxford School of Drama Trust to assist with the building of new studio theatre and associated facilities.   Applying for a loan or opening an account with Charity Bank is easy – simply call 01732 774050 to talk to a member of the team, visit [www.charitybank.org](http://www.charitybank.org) to download an application, or email en*******@*********nk.org   * **[Croft Championships Can Lead To Fundraising Success](https://fundraising.co.uk/2006/07/12/croft-championships-can-lead-fundraising-success/)**( 12 July 2006) * **[everyclick.com is a regional winner of the HSBC Start-Up Stars Awards](https://fundraising.co.uk/2006/07/13/everyclickcom-regional-winner-hsbc-startup-stars-awards/)**( 13 July 2006) * **[Information Flyer](https://fundraising.co.uk/2006/07/20/information-flyer/)**( 20 July 2006)