# CAF Bank celebrates its 20th anniversary

- Link: https://fundraising.co.uk/2006/11/17/caf-bank-celebrates-its-20th-anniversary/
- Published: 2006-11-17T00:00:00+00:00
- Author: Howard Lake

**CAF Bank, the UK’s first bank set up exclusively for charities, has celebrated
its 20th anniversary with a reception in London. It now has record funds under management
of £1 billion.**

Originally known as CafCash, CAF Bank, the banking subsidiary of CAF (Charities 
Aid Foundation), was launched in 1986 to provide even the smallest charities with
access to high quality financial products, low charges and competitive rates of 
interest.

In its first year it attracted nearly 1,600 accounts totalling £24.5 million, and
now CAF Bank manages over 20,000 accounts worth £1 billion.

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At the anniversary event, Tracey Reddings, CAF’s Executive Director of Charity Financial
Services, said: “Over the past 20 years we have seen the income of charities more
than double from £12.5 billion to £26 billion, and we have been able to make a valuable
contribution to the effective management of these funds.”

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