Unity Trust Bank achieves 20% growth in social economy sector business

Howard Lake | 14 May 2006 | News

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• finance

Unity Trust Bank has today announced significant growth in its business within the social economy sector. Deposits from customers in the sector, mainly Community Development Finance Initiatives (CDFIs), charities and credit unions, grew to £162 million in 2005 – an increase of 20%.

The bank, established in 1984 by trades unions and the co-operative movement, also realised pre-tax profits in 2005 of £4.84 million, an increase of 17.3%.

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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale. He is the founder of Fundraising Camp and co-founder of GoodJobs.