# Dormant accounts call for charity

- Link: https://fundraising.co.uk/2007/03/16/dormant-accounts-call-charity/
- Published: 2007-03-16T00:00:00+00:00
- Author: Howard Lake

Millions of pounds lying in dormant bank and building society accounts should be
used for charitable purposes rather than being held by financial institutions, the
Northern Ireland Council for Voluntary Action (NICVA) has said. Funds worth tens
of milliions of euros have been distributed in the the Irish Republic from dormant
accounts.

NICVA’s made its call as the Commission on Unclaimed Assets issued a blueprint for
employing the unclaimed funds in dormant accounts. The commission believe the funds
should be used to create a new financial insititution to aid the fight against poverty
and social exclusion.

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The commission’s suggestion that a social investment bank should be established 
was not welcomed by NICVA. In the Irish Republic a new organisation, the Dormant
Accounts Board, was established to distribute the funds to a wide range of causes.