Charity Bank, the loans and savings bank dedicated to fostering positive social change, celebrates a decade of collaboration with YMCA.
Charity Bank uses its savers’ money to provide much-needed loans to UK organisations working to drive positive social change (like YMCAs!) – bringing benefits to people, communities, and the environment.
For over 20 years, Charity Bank has been a steadfast supporter of YMCAs, formalising its partnership with YMCA England and Wales a decade ago.
Through Charity Bank loans, YMCAs have addressed homelessness, unaffordable housing, and inadequate housing by purchasing, developing, and innovating new housing solutions for vulnerable individuals.
To date, Charity Bank has lent over £184 million to social housing providers, including numerous YMCAs across England and Wales.
As a bank owned by social purpose organisations, Charity Bank is committed to leveraging its expertise, dedication, and flexible lending approach to support charities and social enterprises in obtaining the necessary funding and support.
Examples of YMCAs supported by Charity Bank include:
- YMCA St Paul’s Group: Charity Bank provided funding to acquire the long leasehold interest in Olympic House in Wimbledon. The acquisition was crucial for the YMCA’s redevelopment plans, including the creation of 121 self-contained units with shared kitchens, as well as community facilities, including health and wellbeing facilities.
- YMCA Burton on Trent: Used a £450,000 loan to purchase their furniture shop instead of renting, leading to savings and ownership. They further improved the building and developed their services.
- YMCA Thames Gateway: Using a loan from Charity Bank, they transformed modular units into affordable homes to address London’s housing crisis, building 39 single-occupancy units next to their hostel.
- Central YMCA: Received a loan to refinance and recover from pandemic-related challenges. As a leading charity training provider in the UK, Central YMCA offers apprenticeships and training programs to support young people’s career development.
- YMCA Together: With a loan from Charity Bank, they purchased ten properties to provide single-occupancy accommodation and promote community integration for individuals at risk of homelessness in Liverpool, Sefton, and Knowsley.
- Y:Housing: In partnership with YMCAs across the UK, they provide affordable homes for young people under 25. Two of their properties have been partially funded with a Charity Bank loan.
Charity Bank is also the sponsor of the newly published report, Unlocking Affordable Homes, and also assisted YMCA England & Wales in conducting the associated research.
“As we celebrate a decade of partnership with YMCA, Charity Bank is immensely proud of the impact we’ve made together in addressing social challenges and fostering positive change. Over the years, we’ve witnessed firsthand how our loans have empowered YMCAs to tackle pressing issues such as homelessness and inadequate housing. As we look to the future, Charity Bank remains steadfast in our commitment to supporting YMCAs and the people and communities they serve.” Ed Siegel, CEO of Charity Bank
“Our unwavering collaboration with Charity Bank has enabled local YMCAs to tackle pressing social issues in their communities such as homelessness and housing insecurity. By doing so, Charity Bank and YMCA are making a profound impact on the lives and communities of England and Wales. Together, we are driving positive change and laying the foundation for a more promising future for young people.” Denise Hatton, Chief Executive, YMCA England & Wales
To discover more about Charity Bank and how YMCAs have used loan finance to support their work, visit: charitybank.org/YMCA
