For the thirteenth year running Charity Bank has been awarded the top spot in the Ethical Banks and Building Societies Ethical Comparison Table 2019, according to The Ethical Company Organisation’s Good Shopping Guide.
Having successfully raised nearly £5 million in subordinated debt, Charity Bank is now focusing on attracting new shareholders. Each £1 of equity investment can translate into £8 of lending to charities and social enterprises.
Barrow Cadbury Trust is an independent charitable foundation seeking to bring about a more just and equal society. It has held a £250,000 capital investment in Charity Bank since 2016 and has an Ethical Fixed Rate savings account.
Power to Change is an independent charitable trust working to strengthen the community. The trust deposited £5 million with Charity Bank in July 2019. We spoke to Ged Devlin, Development Manager at Power to Change, about the importance of positive investment.
Your eligible deposits with Charity Bank are currently protected up to a maximum of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Total balances above £85,000 are not protected.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
Deposits from large companies and small local authorities are covered by the FSCS deposit protection from 30 January 2017 up to a maximum of £85,000.
Visit the FSCS website for more information or call the FSCS on 0800 678 1100 or 0207 741 4100.