# Power to Change deposits £5 million in Charity Bank

- Link: https://fundraising.co.uk/2019/07/09/power-to-change-deposits-5m-in-charity-bank/
- Published: 2019-07-09T09:00:13+01:00
- Author: Melanie May

**Charity Bank has received a £5 million deposit from independent charitable trust
Power to Change.**

The deposit will increase [Charity Bank](https://charitybank.org/)’s lending capabilities,
improving access to finance for charities and social enterprises.

Organisations helped by Charity Bank include [Imago](https://www.imago.community/),
a social action charity supporting communities across the South of England which
purchased a new premises with funding from Charity Bank, and Burton Street Foundation,
a community benefit society in Sheffield which has also been supported in the past
by Power to Change. Burton Street Foundation works with almost 250 adults and 50
children every week, with needs ranging from moderate learning difficulties, to 
profound and multiple learning disabilities.

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Ed Siegel, Chief Executive at Charity Bank commented:

> “Responsible investment is an important and growing area of focus for many charities
> and social enterprises. This deposit from Power to Change will undoubtedly help
> us in our mission to provide social enterprises with the financial resources they
> need to help vulnerable people and communities across the UK, outcomes which, 
> we understand, are supportive of the social objectives of Power to Change.”

Vidhya Alakeson, Chief Executive at [Power to Change](https://www.powertochange.org.uk/)
said:

> “Power to Change exists to create better places through community business and
> we know that by saving with Charity Bank, our cash is being used as a powerful
> tool for social change. The deposit we’ve made will support Charity Bank in tackling
> some of the most challenging societal issues facing the UK today, while still 
> earning a good rate of interest, which is great news for our endowment and for
> improving lives.”

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