Posted on 27th October 2009
A new ethical savings account was launched in Cardiff last week with the aim of supporting Welsh charities and social enterprises.
The Welsh Community Bond is being offered by Charity Bank to savers across the UK. Deposits will be used to increase the funds available for lending to Welsh charities and social enterprises, at a time when they face a slowdown in their public grant funding and a decline in income from legacies and donations.
Guest of honour at the reception to launch the bond was Andrew Davies, the Welsh Assembly Government’s minister for finance and public service delivery. “One of the attractions of the bond is that it is invested in local community organisations, so people know their money is being used to make a difference. I hope the people of Wales get behind it and we can make it the success it deserves,” Davies said.
Malcolm Hayday, chief executive of Charity Bank, said, “We’re delighted to be able to offer Welsh savers a safe, secure and transparent way to use their money to support the country’s charitable sector.”
Charity Bank uses its depositors’ funds to provide affordable loan finance and support to charitable organisations doing vital work in communities in Wales, across the UK and beyond.
More information on the Welsh Community Bond is available on the Charity Bank website.
