# Dormant accounts funding moves closer - Link: https://fundraising.co.uk/2012/09/11/dormant-accounts-funding-moves-closer/ - Published: 2012-09-11T18:08:10+01:00 - Author: Howard Lake **The allocation of money from dormant bank accounts in Northern Ireland to community groups has taken a step closer after the Department of Finance and Personnel (DFP) announced that it has a preferred organisation to distribute the funds.** DFP has told the Northern Ireland Council for Voluntary Action (NICVA) that it wants the Ulster Community Investment Trust (UCIT) to allocate the money which will be distributed in the form of loans rather than grants. Previously DFP said that up to £1.3 million would be available in the first year, considerably less than earlier estimates which indicated that up to £20 million might be disbursed in the first year with smaller amounts in subsequent years. ## Advertisement [⌊Posthub advert. You create the campaign. We'll handle the postal journey. Get started at post-hub.co.uk.⌉](https://fundraising.co.uk/ads/posthub-20261007-300x250/) DFP will shortly be bringing forward legislation related to the distribution of funds which will reflect the spending priorities of DFP. The Department of Finance and Personnel undertook public consultation from August to October 2009 to identify the spending priorities for the use of the dormant accounts funding. It is proposed that UCIT will operate as the body through which the Dormant Accounts Funding will be channelled to other bodies, in the form of repayable loans. There is still time to respond to the proposals by contacting DFP by 2 November 2012. www.dfpni.gov.uk/index/about-dfp/consultation-zone.htm _Photo: [olliruam77 on Flickr.com](http://www.flickr.com/photos/photolab/77610188)_ * **[Big opens cultural grants fund in Northern Ireland](https://fundraising.co.uk/2012/09/13/big-opens-cultural-grants-fund-northern-ireland/)**( 13 September 2012) * **[Lloyds Foundation NI increases grant giving](https://fundraising.co.uk/2012/09/20/lloyds-foundation-ni-increases-grant-giving/)**( 20 September 2012) * **[NI Fundraising Conference announced](https://fundraising.co.uk/2012/10/02/ni-fundraising-conference-announced/)**( 2 October 2012)