# Finance sector pledges to bolster battle against Coronavirus – but not all causes can bank on this

- Link: https://fundraising.co.uk/2020/04/08/banks-and-building-societies-bolster-battle-against-covid-19/
- Published: 2020-04-08T14:56:35+01:00
- Author: John Thompson

**Following my [review of how retailers have been supporting charities and communities battling the dreadful impact of COVID-19](https://fundraising.co.uk/2020/03/25/retailers-search-for-social-purpose-focuses-on-the-unprecedented-for-now-what-some-have-been-doing-for-causes-as-we-all-try-to-combat-covid-19/),
this blog looks at how banks and building societies are stepping-up their levels
of support, and my concern that not all charities can bank on corporate and public
giving.**

> NEWS: We’re today announcing the establishment of the Barclays Foundation, which
> will provide a [#COVID19](https://twitter.com/hashtag/COVID19?src=hash&ref_src=twsrc%5Etfw)
> Community Aid Package of £100 million to charities working to support vulnerable
> people impacted by the pandemic. Find out more: [https://t.co/hXJ25UMvMZ](https://t.co/hXJ25UMvMZ)
> [pic.twitter.com/z4ZB78Vh47](https://t.co/z4ZB78Vh47)
> — Barclays Bank (@Barclays) [April 7, 2020](https://twitter.com/Barclays/status/1247570684005548032?ref_src=twsrc%5Etfw)

#### Barclays has launched a £100 million COVID-19 Community Aid Package to charities working to support vulnerable people impacted by COVID-19, and to alleviate the associated social and economic hardship caused by the crisis

The package is made up of two components:

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First, a corporate contribution of £50 million, which will be donated to, and deployed
via, a variety of charities working to support vulnerable people impacted by COVID-
19, and in alleviating the associated social and economic hardship caused by the
crisis. The money will be disbursed principally in the UK, but also in Barclays’
international markets, including the USA and India.

Second, is a £50 million commitment by Barclays to match personal donations made
by its employees to charities of their choice, local to them, and which are working
to support communities impacted by the COVID-19 crisis.

In order to kickstart that programme, and further encourage colleagues who can give
something to do so, Barclays PLC Chairman, Nigel Higgins, Group CEO, Jes Staley,
and the Group Finance Director, Tushar Morzaria, have each decided to donate a third(
33%) of their fixed pay for the next 6 months to charities engaged in supporting
vulnerable people impacted by COVID-19. Their donations will be matched in full 
by the company under the matched donation programme.

> In times of crisis, the strength of the UK community is shown when we come together
> and support the most vulnerable. 
> That's why we’ve donated £1 million to the [@NatEmergTrust](https://twitter.com/NatEmergTrust?ref_src=twsrc%5Etfw)
> Coronavirus Appeal and the [@BritishRedCross](https://twitter.com/BritishRedCross?ref_src=twsrc%5Etfw).
> You can donate here [https://t.co/IwgSIfbf5n](https://t.co/IwgSIfbf5n) [pic.twitter.com/1V25bBiyO1](https://t.co/1V25bBiyO1)
> — HSBC UK (@HSBC_UK) [March 25, 2020](https://twitter.com/HSBC_UK/status/1242813497450381312?ref_src=twsrc%5Etfw)

#### HSBC UK has donated £1 million to the National Emergencies Trust Coronavirus Appeal and British Red Cross

Ian Stuart, CEO of HSBC UK said:

“We also want to play our part in helping the nation. With our donation to National
Emergencies Trust Coronavirus Appeal and British Red Cross we hope to support communities
across the UK as this national effort continues.”

> Bank of Ireland are donating €1 million to charities and organisations across 
> the island of Ireland to support the most vulnerable in our communities.
>  To find
> out how to apply to the Community Foundation for Ireland fund, visit: [https://t.co/RuFe4vFlpp](https://t.co/RuFe4vFlpp)
> [pic.twitter.com/LVGIKiUBrd](https://t.co/LVGIKiUBrd)
> — Bank of Ireland (@bankofireland) [April 7, 2020](https://twitter.com/bankofireland/status/1247599405953429507?ref_src=twsrc%5Etfw)

#### ⏎ Bank of Ireland is donating €1 million in emergency funding to communities with urgent needs arising from the pandemic

In partnership with The Community Foundation for Ireland, the Bank is fast tracking
€500,000 of the funds to 13 organisations that are working to support the immediate
needs of vulnerable groups across the island of Ireland, north and south. This support
is being delivered to projects which will support children and older people, domestic
abuse, rural isolation, cancer support, mental health, and food distribution.

The remaining €500,000 is being donated to The Community Foundation for Ireland 
and the Community Foundation for Northern Ireland’s Covid-19 Funds to help local
charities and community organisations assisting vulnerable individuals and groups
through this difficult period.

> The Santander Foundation are donating £1 million to [@age_uk](https://twitter.com/age_uk?ref_src=twsrc%5Etfw)&
> [@alzheimerssoc](https://twitter.com/alzheimerssoc?ref_src=twsrc%5Etfw) supporting
> people in the community affected by coronavirus. The funding will help initiatives
> to provide advice, alleviate loneliness & basic needs such as groceries. [#COVID19](https://twitter.com/hashtag/COVID19?src=hash&ref_src=twsrc%5Etfw)
> [#PrepareAndPrevent](https://twitter.com/hashtag/PrepareAndPrevent?src=hash&ref_src=twsrc%5Etfw)
> — Santander UK (@santanderuk) [March 27, 2020](https://twitter.com/santanderuk/status/1243556669776371712?ref_src=twsrc%5Etfw)

#### ⏎ The Santander Foundation has donated a £1m to Age UK and Alzheimer’s Society to support some of the most vulnerable people in the community

The funding, split equally between the two charities, will assist their activities
on the frontline, offering vital support for both older people and those affected
by dementia.

> NatWest and [@PrincesTrust](https://twitter.com/PrincesTrust?ref_src=twsrc%5Etfw)
> launch £5million relief fund for young entrepreneurs affected by coronavirus. 
> Find out more: [https://t.co/glkG6KuY1s](https://t.co/glkG6KuY1s) [pic.twitter.com/yd8Dhks9zD](https://t.co/yd8Dhks9zD)
> — NatWest Group (@NatWestGroup) [April 3, 2020](https://twitter.com/NatWestGroup/status/1246024592076025857?ref_src=twsrc%5Etfw)

#### ⏎ The Prince’s Trust and NatWest have announced the launch of a £5m fund to help young entrepreneurs across the UK to keep their businesses afloat during the crisis

[⌊Yorkshire Building Society Charitable Foundation⌉⌊Yorkshire Building Society Charitable
Foundation⌉[

The fund is available to entrepreneurs aged 18-30, who can apply for grants and 
tailored support. Grants can be used to maintain core business operations during
the crisis, as well as meet any existing financial commitments, such as paying for
essential equipment or settling invoices from suppliers. 

In addition, NatWest and Royal Bank of Scotland have announced a donation-matching
programme of up to £5m for the National Emergencies Trust (NET) Coronavirus appeal,
aimed at leveraging a further £5m of support from the public.

From Friday 3rd April, donations to the NET made by Reward Account customers via
their Reward account balance, will be topped up on a matched basis up to £5m until
the end of June.

Reward account customers accrue a balance of Rewards which are earned by holding
two or more direct debits as well as cashback on certain types of spending. These
can be redeemed as cash or donated, and the move by NatWest and Royal Bank of Scotland
is aimed at unlocking these unused rewards to support the fight against coronavirus.
**
Yorkshire Building Society Charitable Foundation has launched its Coronavirus Response
Fund to support smaller charities during the Covid-19 outbreak**

The £100,000 fund will make donations of £250 to £2,000 to charities that are helping
UK communities to cope with the impact of the coronavirus pandemic. Charities can
apply for support with running costs, staff and travel costs as well as volunteer
expenses.
 

> We are adapting our approach to funding to better support [#SmallButVital](https://twitter.com/hashtag/SmallButVital?src=hash&ref_src=twsrc%5Etfw)
> charities following the immediate COVID19 crisis. From today we are temporarily
> not accepting any new funding applications until we can design a new approach.
> Read our full statement: [https://t.co/DQdFW6mN7E](https://t.co/DQdFW6mN7E)
> — Lloyds Bank Foundation (@LBFEW) [April 8, 2020](https://twitter.com/LBFEW/status/1247847939420098560?ref_src=twsrc%5Etfw)

#### Lloyds Bank Foundation is reviewing the situation

The foundation has announced that it’s adapting its approach to funding to better
support [#SmallButVital](https://twitter.com/hashtag/SmallButVital?src=hashtag_click)
charities following the immediate COVID19 crisis and has temporarily ceased accepting
any new funding applications until its designed a new approach. In statement, the
foundation said:

“We want to re-assure those considering a new application that the short term pause
of our grant programmes will put us in a stronger position to offer the right support
for charities in the longer term. We hope this strikes the right balance and gives
us the opportunity to be able to respond to COVID-19 and to best support the charities
who are on the front line. Our commitment to partnering with small and local charities
and the people who you serve and help overcome complex social issues is stronger
than ever.”
 

## Charities can’t bank on what they don’t have

Both the matched-giving schemes outlined above, have the potential to generate a
combined total of £110m in donations. To reach that total, £55m needs to be donated
by customers and employees – £15m more than recently raised by Sport Relief, but
without all the whistles, bells, TV and celeb support.

Tough gig.

Of course this, and an anticipated £100m from retailers donating to causes directly
working on the front-line to tackle the pandemic, is welcomed. But there are tens
of thousands of causes, big, small, national & local that won’t meet the criteria
to benefit from such funds. Are they less worthy of support? Will they be forced
to close forever as income declines?

**Everyone will pay the price** for a rise in social decay, increased levels of 
poverty, less access to benefits and rights information, the ceasing of medical 
research and public health campaigns.  People’s mental health problems unaddressed.
Drug, alcohol and gambling services scrapped. Children’s services forsaken.  Equality
initiatives put back on the shelves. More beloved family pets given over to shelters.
More misery. More sadness. More worry. More inequality and discrimination. All piled
on top of the collective angst, bereavements and economic uncertainties created 
by coronavirus.

Yes, we must tackle the crisis, for the sake of humanity. But, in doing so, we must
avoid laying the foundations for a longer-lasting one to horrify us when we awaken
from this nightmare.

The recently announced [£750m package of support](https://fundraising.co.uk/2020/04/09/government-announces-750m-covid-19-package-for-charities/)
from the Chancellor sounds good, but there is more good being done under the radar
than has been recognised, or acknowledged.

You can re-tile a roof, add an extension, fit a new kitchen, landscape a garden.
But if a house’s foundations rest on a cliff’s edge, it will eventually crumble 
into the sea.

Only funding on a governmental scale can hold back the tide. And woe betide if it
doesn’t as many causes may have to stick to their nothing.

**Everyone will pay the price.** But only the government can really afford to foot
the bill.
 I’ll be keeping this blog updated as other initiatives catch my interest.
Feel free to tweet me any you spot [@jtchangingbiz](http://twitter.com/@jtchangingbiz)