# Charity Bank makes its 1,000th loan

- Link: https://fundraising.co.uk/2012/07/03/charity-bank-makes-its-1000th-loan/
- Published: 2012-07-03T13:20:40+01:00
- Author: Howard Lake

**Charity bank has made its 1,000th loan, providing £168,000 to Colchester Archaeological
Trust to purchase new premises right beside the site of the Roman circus that the
charity discovered in 2004. The building, a former Army Education Centre that was
part of Colchester’s military garrison, will house an interpretation centre for 
visitors to the circus as well as providing offices for the Trust’s employees.**

The Trust successfully raised £240,000 from the public in a 13 week campaign at 
the beginning of 2011, and secured a relocation grant of £80,000 from its former
landlord Essex County Council. However, it had encountered difficulty in securing
the necessary remaining funding.

“We approached the high street banks but unfortunately the building we had chosen,
although very solidly built, had no water, no electricity and had been badly damaged
by a burst water main several years before,” said Philip Crummy, the Trust’s director
and chief archaeologist. “And then there was the fact that we are a small charity.
Nobody would touch us. Luckily, Taylor Wimpey, the developer who had bought the 
property from the army, was very supportive of our project and gave us time to put
the finance in place.”

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The Trust decided to approach Charity Bank and was met with a favourable response.“
Investing in a project like this requires an element of faith,” commented Philip
Crummy. “Luckily for us, Charity Bank was prepared to do a bit of believing.”

Carolyn Sims, Head of Banking, Charity Bank, said: “[The Colchester Archaeological Trust](http://www.thecolchesterarchaeologist.co.uk)
is an excellent example of the type of organisation that Charity Bank supports. 
The individuals who deposit with Charity Bank will see their savings grow, not simply
in financial terms, but in terms of the enormous social contribution that the Trust
provides. The Trust is preserving a very unique part of our history. We look forward
to supporting the Trust as it continues to evolve.”

www.charitybank.org