Scottish Community Bank Update

Scottish Community Bank Update
Scottish Community Bank Working Group

It is our intention to develop the concept of a Scottish Community Bank (structure and name to be finalised) – to be run by and for the third sector in Scotland.


Our vision is of an institution that would pool the resources of the third sector in Scotland for investment in our sector. The philosophy will be one of mutuality – that would use the collective impact of our own money to create financial services consistent with the mission and values of our sector and, in so doing, also attract new money.


We believe it is time to create a place where savers – the third sector and like-minded people and organisations – can invest community, environmental and social initiatives, inspired by shared values of a sustainable social and human development.


Over the coming months, with the help of a Big Lottery Investing in Ideas grant, we will produce a Feasibility Study that will seek to identify the most appropriate ‘model’  and range of services that the new Scottish Community Bank could offer. 


Specific actions will include:


• Consulting with a cross section of individuals and agencies in Scotland – including: locally based third sector organisations; national third sector organisations; national intermediaries; existing social investors; public agencies 
• Assessing various existing ‘models’ available 
• Consulting with ‘regulators’ to assess hurdles/barriers.
• Scope, with others, the sector’s existing ‘asset base’ which could potentially support development and growth. 


It is expected that the Feasibility Study will demonstrate:


• evidence of demand and potential sources and amounts of supply
• highlight the range and type of opportunities for growth of the sector
• identify opportunities for collaboration.
• identify the existing barriers encountered by third sector organisations for lower level investment 
• explore the barriers encountered by existing social investors and explore solutions to the existing perception – with regard to higher level investment – of ‘supply’ outweighing ‘demand’. 


SCB Working Group
February 2013