CAF Bank passes £100m lending milestone
Melanie May | 27 January 2020 | News
CAF Bank has grown its portfolio of lending to charities to over £100 million for the first time, it has announced.
CAF Bank, which is owned by Charities Aid Foundation, provides a full range of day-to-day banking services to charities and organisations with a social purpose, with a particular commitment to small and medium-sized organisations.
Projects that have benefitted from CAF Bank loans include redeveloping a former care home into a 14 bedroom home in East Sussex to house homeless people in the area, and renovating a church in Putney to transform it into a modern hub for the local community.
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Alison Taylor, CEO of CAF Bank, commented:
“We’re owned entirely by a charity and as a result, specifically designed to understand and serve what thousands of charities across the country need from a banking provider.
“This £100m milestone is important for us. It shows our commitment to responsible lending to UK charities, despite an uncertain economic and geopolitical outlook.”
Last year CAF Bank identified three main priorities for the future: improving customer service, driving efficiency and deepening its social purpose lending.
In December last year, it announced that it was partnering with Flagstone in the launch of a cash deposit platform just for charities. The CAF Charity Deposit Platform provides access to a choice of more than 170 deposit accounts from 22 banks and building societies for those with savings starting at £50,000.
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.