CAF Bank – the bank for charities and non-profit organisations owned by the Charities Aid Foundation (CAF) – has grown its portfolio of lending to charities to over £100m, it has announced.
This is the first time that CAF Bank has reached this lending milestone.
In its annual report for 2019, the Bank highlighted its commitment to being the preferred bank for small and medium size charities in the UK, providing a full range of day-to-day banking services to charities and organisations with a social purpose.
CAF Bank loans have benefitted a wide range of people from different walks of life. Projects include redeveloping a former care home into a 14 bedroom home in East Sussex to house homeless people in the area, as well as renovating a church in Putney and transforming it into a modern hub for the local community.
Alison Taylor, CEO of CAF Bank, believes the organisation is uniquely placed to serve charities’ banking needs. “We’re owned entirely by a charity and as a result, specifically designed to understand and serve what thousands of charities across the country need from a banking provider.
“This £100m milestone is important for us. It shows our commitment to responsible lending to UK charities, despite an uncertain economic and geopolitical outlook.”
Last year CAF Bank identified three main priorities for the future: improving customer service, driving efficiency and deepening its social purpose lending. The Bank will report on these priorities as they progress.