UPDATE FROM CAF BANK'S CEO

3 November 2020

As I write, CAF Bank is preparing for the second period of lockdown due to the Covid-19 pandemic. In common with many organisations, we'll be reversing the changes we've made over the last few weeks and almost all of our team will once more be working from home.

We're determined to carry on providing our critical services for clients and to support you in all that you continue to do for people and communities across the globe. It's possible things will take us a little longer than usual, but we'll do our best to limit any disruption you may experience.

CHANGING GIVING PATTERNS

CAF recently published the latest UK Giving report, analysing giving behaviour in the first six months of 2020. During that time, Britons gave £5.4 billion to charity, £800m more than in the same period of 2019.

Whilst this is an excellent outcome overall, behind the headline numbers it's a mixed picture: charities supporting the NHS and healthcare sector have understandably received a far greater share of funding, whilst those in a number of other segments have lost funding year-on-year. In particular, charities focused on medical research, support for children and young people, and animal welfare appear to have lost share.

KEEPING YOUR MONEY SECURE

In this update, you'll find tips to help you keep your money secure. With criminals across the globe launching progressively more sophisticated scams, the risk of losses through fraud and cyber-security breaches is ever present. I do encourage you to take the time to read our security article and access the guidance on our Security Centre.

LAUNCH OF CAF RESILIENCE FUND

CAF has joined forces with the UK Government and industry to launch a new £20 million fund. The CAF Resilience Fund is now open for applications. We invite eligible customers to apply by the 10th November 2020 deadline, find out more and apply here. For hints and tips on writing a great grant application, watch this video.

CAF BANK FEE CHANGES

This week, you should have received a letter from us outlining changes to our bank charges from 4th January 2021. Earlier in the year, we paused our annual review of bank charges due to uncertainty caused by the pandemic and took the decision to absorb increases in our costs of transaction processing.

Since then, the full extent of the economic impact of Covid-19 has become clearer. With the historically-low prevailing interest rate predicted to stay for some time, we have reluctantly concluded that we must increase some elements of our tariff. We have limited these changes to those needed to cover costs, which we're striving to drive down to maximise our efficiency.

I want to close by thanking you for your valued custom. Be assured that whatever challenges Covid-19 may pose, all of us at CAF Bank stand ready to ensure we continue to provide your organisation with the support and service you need.

With best wishes,

Alison