Social Impact Report

Welcome to our Impact Report for lending activity in 2023 and 2024

Introduction from our CEO

Dear reader,

At Charity Bank, we believe finance should be a force for good. In a year marked by economic uncertainty and rising social need, we remained steadfast in our mission: to support the organisations that are changing lives, strengthening communities, and protecting our planet.

In 2024, we reached a new record – disbursing a record £70.0 million in new loans to UK charities and social enterprises, building on the strong £53.5 million distributed in 2023.

These funds helped to build affordable homes, expand vital services, and empower organisations working at the heart of their communities. Our borrowers told us that 93% chose Charity Bank because we understand their unique challenges, and 82% because our values align with theirs.

During 2023-24 we expanded our activity in the green lending space with blended finance products to support energy efficiency investments by social sector organisations. These efforts are part of our broader strategy to help our borrowers transition to a low-carbon future while reducing their operating costs.

Our LEAP (Lending Equal Access Programme) and cost-of-living finance programme provided critical support to smaller, often diverse-led organisations that have historically struggled to access funding. These initiatives are helping to close the finance gap and ensure that social investment reaches those who need it most.

2024 also marked the launch of our Brighter Futures Fund, a new initiative using a portion of our surplus funds to support impactful organisations that fall outside the scope of traditional lending. This fund reflects our deepening commitment to inclusive finance and our belief that no organisation doing good work should be left behind.

As always, our work is made possible by our savers, individuals and institutions who choose to align their money with their values. By saving with us, they are helping to build a more just, inclusive, and sustainable society.

As you read this report, I hope you’ll take away more than just the numbers. I hope you’ll pause with each story and see the people behind the data, the lives changed, the futures made brighter, the communities strengthened. These stories speak louder than any statistics. They are the reason we do what we do.

Thank you for being part of our journey.

Ed Siegel

Chief Executive

Impact Highlights for 2023 and 2024

£120m

lent to charities & social enterprises

167

charities & social impact-led enterprises supported

5561

savers supporting good causes

This report explores how Charity Bank’s funding is distributed, how it’s used, and the impact it delivers—drawing on five key data sources:

  • Drawn loan data from 189 organisations between January 2023 and December 2024, including loan values, outcome areas, and borrower characteristics.
  • Approved loan data from the same period, offering additional context on lending activity.
  • A borrower survey conducted in March–April 2024, with 155 responses from organisations with active loans during 2023–2024. Sample sizes are noted where relevant.
  • Case studies that bring the numbers to life, offering real-world stories of how our loans support charities and their communities.
  • External data sources including financial and operational data cross-referenced with Companies House, the Charity Commission (UK and NI), and OSCR.

This report uses the standardised social impact monitoring categories widely adopted by UK social investors and promoted by Big Society Capital. We follow an accounting methodology where each part of a loan is attributed to the year it was drawn by the borrower—or, for approvals, the date the loan was approved.

Charity Bank only provides loans to organisations that are actively working to improve society. These include charities, social enterprises, and other impact-led organisations.

Each loan is assessed not just for financial viability but also for the social impact the borrower aims to deliver.

When we assess the impact of a borrower’s application, we measure how closely the loan fulfils five of the key strategic areas: diversity, additionality, environment, locality and depth of need.

We seek to filter out inappropriate applications early in the lending process, all borrowers are asked to sign up to a statement of values, and we also have a Business Acceptance Panel that looks to eliminate unsuitable applicants at an early stage.

We conduct ongoing tracking of each loan’s impact through a structured system that combines financial monitoring, social impact evaluation, and borrower engagement.

How we make an impact

Our Strategy for Impact 2023–2027

Charity Bank is driven by social impact, it’s the core measure of our success. By using deposits from individuals and organisations to provide loans to mission-led enterprises, we aim to create meaningful change and tackle pressing societal challenges. Our 2023–2027 strategy sets out a clear and focused vision for the impact we intend to achieve. It was shaped in collaboration with our shareholders and informed by the findings and recommendations of the Adebowale Commission on Social Investment.
Our strategy aims to deliver impact across three interconnected levels:

Strengthening Organisations

We help charities and social enterprises grow stronger and more impactful by offering tailored funding that meets their needs. By addressing gaps in finance and enhancing our service, we support organisations in building resilience and deepening their impact.

People, Communities and Planet

We prioritise lending to organisations supporting vulnerable and underserved groups. We also back green initiatives that cut emissions and promote sustainability, aligning our finance with both social and environmental goals for a fairer, more inclusive future.

Leading by Example

We embed our values internally by fostering an inclusive, respectful culture. Through equitable policies, flexible working, and talent development, we aim to lead by example, showing that a values-driven approach strengthens both culture and success.

How we make an impact

Challenge

Impact-driven organisations, particularly in disadvantaged communities, often struggle to access necessary finance. Addressing the UK's pressing social and environmental issues requires unlocking substantial capital beyond grants alone.

Vision

A society that fosters vibrant communities and a healthy planet, giving every individual the opportunity to thrive.

Mission

To support and strengthen impact-driven organisations that improve people’s lives, while empowering savers and investors to put their money to work for positive social change.

Inputs

The things that enable our work

Loan Solutions

Loans are designed to meet the unique needs of charities and impact-led enterprises, ensuring they have access to the financial resources necessary to achieve their missions.

Ethical Savings

Individual and organisational savers deposit money into savings accounts, providing a stable source of funds for Charity Bank to lend to impactful organisations.

Share capital

Charitable trusts, foundations, and other impact-led enterprises invest in Charity Bank's share capital, enabling the bank to support more charities and social enterprises.

Relationships

Our partner organisations collaborate with Charity Bank by providing grants, investment readiness support, co-finance, and more, enhancing our ability to support impactful organisations.

Staff

Individuals who want to use their skills for good join Charity Bank, contributing their expertise and passion to help the bank achieve its mission.

Activities

The things we do

Providing Loans

Enterprising charities and impact-led enterprises apply for loan finance, receiving the funds they need to grow and succeed.

Providing Expertise

Charity Bank provides additional support, helping social purpose organisations navigate financial challenges and maximise their impact.

Forming Partnerships

Charity Bank collaborates with various partners to enhance its support for charities and social enterprises, leveraging additional resources and expertise.

Leading by Example

Charity Bank works towards Net Zero, promotes Equity, Diversity, and Inclusion (EDI), implements a four-day work week, establishes a charitable fund, and engages in community and volunteering activities.

Outputs

The things that are brought about by our activities

Improved Funding Access

Lending to charities and impact-led enterprises, providing them with the financial resources they need to achieve their goals.

Charity Bank becomes a Role Model

We become a role model to other organisations in the social impact investing sector.

Outcomes

The changes our beneficiaries see through working with us

Financial Resilience

Charity Bank loans can allow organisations to improve their financial resilience, for example by restructuring their finance, or by taking out a property loan so they have a permanent premises.

Improved Impact

Charity Bank loans can help organisations to further improve and refine the services they offer, leading to improved impact for their beneficiaries.

Improved Access to Future Funding

Charity Bank loans can allow organisations who struggled to access finance elsewhere to build up a better financial track record, which can improve their access to other funding in the future.

Improvements to Beneficiaries

As well as improving organisations' impact on beneficiaries, Charity Bank loans might also help organisations scale their work up to reach more people.

Improvements to the Funding Landscape

By learning from Charity Bank's work, other organisations may follow suit, leading to improvements to the charity funding landscape.

Impact

The long-term impact of these outcomes on wider society

Vibrant Communities

Communities flourish with increased support and resources, becoming more vibrant and thriving.

Healthy Planet

Environmental sustainability is prioritised, contributing to a healthier planet for future generations.

Opportunity for All

Every individual has the chance to thrive, benefitting from the inclusive and supportive environment fostered by the impact led organisations supported by Charity Bank.

How our savers and shareholders help us create social impact

Our savers

When individuals or organisations deposit their funds with Charity Bank, they can be confident that their money is being used to support impactful organisations working towards social change.

Their savings directly contribute to addressing societal challenges and creating positive outcomes in communities. It’s not just an abstract notion of being ethical; it’s a concrete action that leads to tangible social impact.

Find Out More

Our shareholders

Charity Bank’s ability to meet the ongoing needs of the social sector and support a wider range of social sector organisations relies on the capital investment from our shareholders and subordinated debt investors. They play a crucial role in our ongoing success and impact.

Social impact multiplied

For every £1m of investment capital (equity and subordinated debt), Charity Bank can make around £7m of social loans.

When the loans are repaid, these funds can be recycled again and again, generating even greater multiples of social impact. In addition, over half of our borrowers were, because of our loan, able to unlock additional funding such as grants or contracts.

“Investment is an important tool which can work alongside grant funding to help organisations thrive and create impact. We hope to demonstrate with our portfolio that trusts and foundations’ assets can be invested to help deliver their charitable aims.”

Caroline Mason CBE, CEO, Esmee Fairbairn

"Charities, social enterprises and faith-based organisations provide key services to local communities in areas such as housing, social care, food banks, skills development and tackling loneliness. Charity Bank loans are a vital part of the funding landscape for these organisations, enabling them to sustain, improve and grow their services.”

Vanessa Morphet, Head of Social Impact Investment at the Church of England

Impact in numbers

Key results from all drawn loans between 2023-2024

 

Where our loans went

Our regional managers support organisations across England, Scotland, Wales, and Northern Ireland. Click the map to explore how much we lent to charities and social enterprises in your region during 2023 and 2024.

Our goal is to reach every part of the UK in proportion to the need. As the charts below show, our lending closely reflects the distribution of UK charities and their total income by region. One exception is Scotland, where our activity has been lower than we’d like. Closing this gap is a key focus in our current planning.

North West

£7,941,854

14 organisations

North East

£2,796,767

4 organisations

London

£41,457,427

46 organisations

Yorkshire & Humber

£10,622,637

24 organisations

Wales

£950,000

2 organisations

West Midlands

£16,199,477

14 organisations

East Midlands

£5,713,327

16 organisations

South West

£8,728,213

14 organisations

Northern Ireland

£1,000,318

1 organisation

Eastern

£7,618,103

7 organisations

Scotland

£1,354,523

4 organisations

South East

£15,809,084

21 organisations

This chart compares the percentage of total charity income with the percentage of funds lent by Charity Bank across UK regions. London stands out with the highest share of total charity income, nearing 40%, while the amount lent by Charity Bank in London is notably lower.

The North East shows a strong alignment between income and lending, with both metrics peaking significantly. Other regions display varying degrees of alignment, with Scotland showing a noticeable gap, its share of lending is much lower than its share of total charity income, highlighting a key area for future focus.

Source: NCVO, Charity Commission

This chart illustrates the distribution of charities and Charity Bank loans across UK regions. London again leads with the highest percentage of charities and loans.

Most other regions show a relatively balanced relationship between the number of charities and the number of loans. However, Scotland and Northern Ireland have fewer Charity Bank loans compared to their share of charities, indicating underrepresentation in lending activity.

Source: NCVO, Charity Commission

The types of organisations we have supported

 

Explore our interactive chart for more information

What our loans were used for

Explore our interactive chart for more information
£48,831,060 Purchase property or land
41%
£26,983,562 Refinancing/ restructuring
22%
£25,581,935 Build property
21%
£8,936,422 Property improvements/renovation
7%
£5,280,664 Working capital
4%
£2,925,000 Capacity building
2%
£1,653,087 Other
1%

Impact in action

How our loans benefit people, communities and the planet

How our loans strengthened our borrowers

Through our loans and support, we strive to leave organisations in a stronger position, both in terms of their ability to carry out their mission and their financial stability. These results highlight responses to a borrower survey conducted in 2024.

Hover or tap on each chart segment to see more information.

Mission Contribution
96% said Charity Bank’s loan(s) positively supported their mission.
Enabling Projects
57% said their project would not have gone ahead without Charity Bank’s loan(s)
Service Growth
72% said Charity Bank’s loan(s) led to growth in the services they offer
Service Quality
78% said Charity Bank’s loan(s) improved the quality of their services or facilities
Organisation Growth
82% said Charity Bank’s loan(s) strengthened their organisation, increasing their likelihood of growth
Asset Growth
83% said Charity Bank’s loan(s) led to growth in their assets or facilities
Resilience
66% said Charity Bank’s loan(s) and support made them more resilient during economic crises.
Customer Support
79% said Charity Bank was patient and understanding during economic crises

Impact in action

Supporting young people through equine therapy

Strength and Learning Through Horses

“All of the young people we support are struggling with their mental health. Many have experienced trauma or neglect.”

Find out how Strength & Learning Through Horses is helping.

Find Out More

Watch these videos to find out more about how our loans are working to strengthen our borrowers.

New Starts

A loan from Charity Bank helped NewStarts buy their warehouse property, which is not only saving the charity money, but also enabling them to support more people with their services.

Birmingham Supported Living 2010

A loan from Charity Bank has helped Birmingham Supported Living 2010 buy an old hotel which it is in the process of transforming into supported accommodation for 11 more vulnerable adults.

Magpas Air Ambulance

A loan from Charity Bank part funded the development of Magpas’s new airbase and headquarters.

René House CIC

A loan from Charity Bank has been able to help René House pay for property improvements, take on new staff and give the CIC breathing space to focus on securing long term sustainability.

Eden Project

A Charity Bank loan has supported the Eden Project, a global garden, educational charity and social enterprise that seeks to demonstrate and inspire positive action for the planet.

Leigh Building Preservation Trust

Leigh Building Preservation Trust used a Charity Bank loan to make further improvements to the Spinner Mill, which houses organisations ranging from arts and heritage to education and training.

Kashmir Youth Project

Kashmir Youth Project used their Charity Bank loan to refinance an existing loan to help them continue to sustain their services within the community.

Praxis Care

A Charity Bank loan helped Praxis Care buy residential properties to provide personal care to the people that they support.

Foundation of Light

A Charity Bank loan enabled Foundation of Light to build the Beacon of Light, a community hub with sport, events, education, and wellbeing facilities.

Strength and Learning Through Horses

A Charity Bank loan helped Strength & Learning Through Horses make their new site usable.

Dundee Women’s Aid

A Charity Bank loan helped Dundee Women’s Aid purchase a much needed four-bed house so that they can offer refuge to women with larger families fleeing domestic violence.

Whitley Bay Big Local

A Charity Bank loan enabled Whitley Bay Big Local to renovate their new building so that they can offer more for the people in their community.

Shpresa

A Charity Bank loan helped Shpresa purchase a three story building from which to run their services.

Homes for Good

Loans delivered by Charity Bank in partnership with another social investor, enabled the social enterprise to buy and renovate more than 210 properties across Glasgow.

Who our drawn loans have supported

Children - £3.3 million

  • Training & education
  • Family, friends & relationships
  • Community

Ex/offenders & prisoners - £2.1 million

  • Housing
  • Employment

General population - £48.2 million

  • Faith
  • Community
  • Training & education
  • Physical health
  • Conservation of the natural environment
  • Housing
  • Arts
  • Other

Older People - £14.6 million

  • Housing
  • Physical health
  • Mental health & well-being

People experiencing homelessness - £10.3 million

  • Housing
  • Income & financial inclusion

People living in poverty and/or financial exclusion - £20.3 million

  • Housing
  • Training & education
  • Faith
  • Physical Health
  • Other

People who have experienced crime or abuse - £1.5 million

  • Mental health & well-being
  • Family, friends & relationships
  • Community
  • Housing
  • Training & education

People with mental or physical health needs - £9.2 million

  • Mental health & well-being
  • Physical health
  • Family, friends & relationships
  • Employment
  • Housing
  • Community

Young people - £10.8 million

  • Housing
  • Mental health & well-being
  • Training & education
  • Sports
  • Community
  • Employment

How our loans benefit people, communities and the planet

From urban sports centres to affordable housing and environmental innovation, Charity Bank’s support is helping organisations create lasting impact across society and the environment.

Community

Adrenaline Alley: a world-class urban sports centre

“Without the Charity Bank loan, we would not have been able to grow and develop in the same way. We’ve also been able to make some significant improvements, such as building a two-storey café, diversifying our revenue income and ensuring sustainability.”

Mandy Young MBE DL, CEO/founder Adrenaline Alley

People

Homes for Good

“Charity Bank was the most enthusiastic and really believed in what we wanted to do. Charity Bank has been a 100% supportive partner from the start and I know I can just pick up the phone if I want any advice.”

Susan Aktemel, Founder Homes for Good

Planet

Eden Project

“Charity Bank was recommended to us by one of the major foundations that we work with. When we got talking to them [Charity Bank] we realised very quickly that we were very much aligned with the values that we had as organisations and we were very excited to work with them.”

Dawn Wilding, Eden Project, Chief Financial Officer

Strategy in focus

How we’re performing against our impact strategy

Impact in line with our strategic plan

Loan approvals 2023-2024 on track to achieve key social and environmental strategic plan

Deprived Communities
Communities ranked within the lowest 30% on the UK’s Indices of Multiple Deprivation—a national measure used to assess relative levels of deprivation across the country.

Unable to Access Finance
Organisations that either:

  • Considered themselves unlikely to secure loans from other sources,
  • Were declined by other lenders, or
  • Found the costs, terms, or application processes of other finance providers too burdensome.

Diverse-Led Organisations
Organisations where 50% or more of the Senior Management Team or Board identify with one or more of the following:

  • Black, Asian, and/or Global Majority backgrounds
  • Long-term health conditions or disabilities
  • LGBTQIA+ community

First-Time Borrowers
Organisations that have either:

  • Never taken out a loan before, or
  • Only previously borrowed from Charity Bank

Organisations Addressing Social Needs

Charity Bank only lends to organisations addressing social need. This includes those working to tackle:

  • Poverty and inequality
  • Homelessness and housing insecurity
  • Education and employment
  • Health and wellbeing
  • Community cohesion and inclusion
  • Climate change and environmental degradation
  • Financial exclusion and lack of access to services

Supporting the most deprived communities

Deprived communities are those in the lowest 30% of indices of multiple deprivation in the UK.

46%

Most Deprived

Of Charity Bank's loan approvals in 2023-2024, 46% went to the 30% most deprived communities in the UK.

40%

Average

Of Charity Bank's loan approvals in 2023-2024, 40% went to the middle 40% of indices of deprivation in the UK.

14%

Least Deprived

Of Charity Bank's loan approvals in 2023-2024, 14% went to the 30% least deprived communities in the UK.

Access to finance

In 2023 and 2024, Charity Bank approved loans to a wide range of organisations – many of whom may have otherwise struggled to access the funding they needed.

Explore our interactive chart for more information

We define a diverse-led organisation as one where 50% or more of the Senior Management Team or Board identify with one or more of the following characteristics: Black, Asian, and/or Global Majority backgrounds; individuals living with long-term health conditions or disabilities; or members of the LGBTQIA+ community.

Our programmes

We support our strategic impact goals through key programmes. The snapshot below highlights results from LEAP and Green (2023–24), and from Cost of Living and BFF launched in 2024.

Cost of Living

Our Cost of Living programme supports organisations implementing initiatives to help communities impacted by the cost-of-living crisis. Charity Bank funded £1,328,400 Cost of Living grants and £1,090,001 Cost of Living loans. Grants and loans went to 27 organisations, 8 of which were diverse-led and 24 support the most deprived communities.

Green Programme

In 2023–2024, Charity Bank supported 18 organisations through its Green Programme, which includes green loans, grants, and funded energy assessments. A total of £674,198 was disbursed. Of the recipients, 9 serve the most deprived communities. The programme supports efforts to reduce carbon emissions and reliance on fossil fuels.

Lending Equal Access Programme (LEAP)

LEAP funds historically under-funded organisations. Charity Bank funded £225,515 LEAP grants and £3,319,500 LEAP loans. Grants and loans went to 25 organisations, 11 of which were diverse-led and 17 support the most deprived communities.

Brighter Futures Fund (BFF)

The BFF provides grants to diverse-led organisations and those operating in the UK’s most deprived areas to help increase accessibility and reach. £224,000 of grants went to 6 organisations.

Bank of Choice

Charity Bank is committed to being the lender of choice for the UK’s impact-driven organisations, supporting their vital work with efficient, values-led service. Our Net Promoter Score (NPS) for new loans made in 2023 and 2024 ranks us in the top 5% of financial institutions, based on benchmark data from CustomerGauge.

Explore what our borrowers have shared about why they chose Charity Bank and how we’re doing.

Impact Highlights

82

Net Promoter Score

Net promoter score from new loans made in 2023 & 2024

94%

Have or would recommend Charity Bank

Borrower survey respondents

82%

Borrowed due to Charity Bank's personal service

Borrower survey respondents

93%

Borrowed due to our understanding of charities and social enterprises

Borrower survey respondents

89%

Borrowed because we're part of the social sector

Borrower survey respondents

71%

Were recommended to Charity Bank

Borrower survey respondents

64%

Borrowed to align money and mission

Borrower survey respondents

82%

Borrowed due to our ethical approach

Borrower survey respondents

77%

Found the loan process straightforward

Borrower survey respondents

86%

Felt supported throughout loan process

Borrower survey respondents

Join a bank that shares your values

Our accreditations

As a bank on a social mission to do good, Charity Bank has sought out independent certification of our values and ethics. These help us in our aims to gain the trust of a growing community of savers and borrowers. Charity Bank currently has accreditation or affiliation with all of the following bodies:

Good Shopping Guide
Charity Bank is a top-ranked ethical bank by Good Shopping Guide for 16 years running.
Global Alliance for Banking on Values
Global Alliance for Banking on Values (GABV)
We are a member of the Global Alliance for Banking on Values, promoting sustainable economic, social and environmental development.
Living Wage
Charity Bank is an accredited Living Wage Employer, committed to working with Living Wage suppliers.
The Partnership for Carbon Accounting Financials (PCAF)
We joined the Partnership for Carbon Accounting Financials to measure and disclose greenhouse gas emissions.
Fossil Free Alliance
Charity Bank is a certified member of the Fossil Free Alliance and has been highlighted as Top Pick for being one of the Greenest Banks in the UK.
Investors in the Environment (iiE)
Charity Bank has successfully met the criteria of the iiE’s Green Level which involved meeting specific criteria related to energy efficiency, waste management, water usage and other environmental considerations.
Responsible Finance Logo
Responsible Finance
Charity Bank is a recognised Responsible Finance Provider, dedicated to providing affordable and fair finance for positive impact.
B Corporation
We are a certified B Corporation, meeting high standards of social and environmental performance.
Diversity Forum
Signatory of the Diversity Forum Manifesto, committed to equity, diversity and inclusion.
Disability Confident Employer
Charity Bank is a Disability Confident employer, challenging attitudes and increasing understanding of disability, while removing barriers for disabled people with long-term health conditions and support disabled people to fulfil their potential.
Social Enterprise UK
Social Enterprise UK Charity Bank is the only bank to be certified as a social enterprise. Social Enterprise UK’s expectations of social enterprises include transparency and having a clear social and environmental mission.
Money Facts
Moneyfacts compares the data for thousands of products and awards Five-, Four- or Three-Star Ratings to those that have stand-out features.
Savings Champion
Charity Bank won the ‘Best Ethical Provider’ 2024 award from Savings Champion, recognising the bank’s commitment to being a ‘Bank for Good’.
Ethical Consumer Best Buy
Charity Bank has been awarded the Ethical Consumer Best Buy label for our savings accounts and is ranked top among banks and building societies for having the most ethical savings accounts.

Saving with Charity Bank

With us your savings become a powerful force for good. In a Charity Bank savings account you can earn interest and make a positive difference to UK communities.

Find Out More

More Charity Bank Reports

Read our other reports to learn more about us and our work.

Your bank for good.

Join an ethical bank that uses its savers’ money to lend to charities and social enterprises. We bring together passionate savers, who want their savings to make a difference, with organisations seeking loans to create real change in the lives of people, communities, and the planet – both now and for the long term.