Charity Bank sees significant increase in new depositers
Meanwhile, social savings bank, Charity Bank has reported a 200 per cent increase in new depositors.
Between January and June of this year, 440 new customers opened accounts, compared with 140 for the same period in 2011. Visitors to Charity Bank’s website and savings enquiries have also doubled in the past week.
Commenting of the rise in new savers, George Blunden, chairman of Charity Bank, said: “Ordinary members of the public are beginning to realise that there is an alternative to depositing their savings in commercial banks, where they will have no idea what use their money is put to.
“The charity sector continues to struggle when it comes to raising finance. Traditional banks are still very reluctant to lend to those organisations which are struggling to deal with escalating social issues. Our work is opening up loan finance to excluded parts of the charity sector."
Visit the Charity Bank homepage.