CAF Trustees welcome Big Society Capital investment in Charity Bank

1 April 2014

The Trustees of the Charities Aid Foundation (CAF) today welcomed Big Society Capital’s major investment in Charity Bank.

From early in the 1990s, CAF incubated lending for social purposes. This work started through Investors in Society which then transformed into Charity Bank, the remarkable pioneer of personal deposits used for social lending, combining regulated banking with charitable objects. CAF provided the core capital to establish Charity Bank, and now gladly steps back to become a minority shareholder to facilitate this major investment by Big Society Capital which will power rapid growth and transform the Bank’s social impact.

CAF remains committed to providing a full range of financial services to support the work of charities, large and small, through CAF Bank, fundraising and investment services and CAF Venturesome.

Dominic Casserley, Chairman of CAF Trustees said: “For more than 20 years CAF has supported the development of Charity Bank so it can grow and expand as an independent organisation.

“We are delighted that Big Society Capital is making a substantial investment in Charity Bank, which will allow the organisation to increase greatly its support for charities and social enterprises.

“Everyone at CAF and CAF Bank remains committed to our mission to support the charitable sector and help create innovative new ways of underpinning the work of charities and other social purpose organisations. We wish Charity Bank continuing success in the future, and as a continuing investor look forward to supporting the bank’s growth and impact."

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