Adrian Dow, Headmaster at Greenwich Steiner School, talks about how a Charity Bank loan is enabling it to refinance an existing loan, putting the school in a stronger financial position to extend its building and eventually include education up to A-level.
The rise of ‘conscious consumerism’ means that more businesses will need to behave in an ethical and transparent manner according to research published this week by Charity Bank, the ethical bank with a mission to use money for good.
Research recently conducted by Third Sector and Flagstone reports that 85 per cent of charities are earning less interest on their money than the Bank of England base rate of 0.5 per cent and nearly a third are earning less than 0.1 per cent interest.
Your money is covered by the Financial Services Compensation Scheme
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.