Charities now power nearly half of Charity Bank’s savings as sector share rises to 45%

Charity Bank today announced that charities and social enterprises now hold £182 million of its £403 million deposit book – representing 45% of total savings.  

This marks a dramatic rise from 2016, when the sector accounted for just 10% of deposits, or £10 million of a £101 million deposit book, at the time the bank launched its dedicated savings products for the sector. 

This growth signals a decisive shift towards mission-aligned saving, where charities are choosing to place their reserves with a bank that shares their values. Charity Bank is committed to expanding this virtuous circle – where deposits from charities help fund affordable loans to other charities and social enterprises working to improve lives and strengthen communities. 

Unlike mainstream banks, where deposits may be used to fund activities that conflict with the values of charities – such as fossil fuels, gambling, or high-interest lending – Charity Bank only lends to charities and social enterprises. This means that money saved with Charity Bank is used to support organisations improving lives and strengthening communities, fully aligning with the mission and values of the charities that deposit with us. 

Ed Siegel, CEO of Charity Bank, said:
“Charities work tirelessly to create positive change, yet their reserves can sometimes end up funding activities that undermine those efforts. At Charity Bank, we offer a simple alternative: savings that stay true to your mission. When charities save with us, their money doesn’t just earn interest – it fuels affordable loans for organisations tackling disadvantage and building stronger communities.” 

“We’re calling on all charities to take a closer look at where their money sleeps at night. If your reserves are sitting in accounts that don’t reflect your values, now is the time to make the switch. Put your money on a mission.” 

Charity Bank is the loans and savings bank for social good. All our shareholders are charities and social impact investors. All our borrowers are delivering social impact. And every loan, deposit and investment helps drive real change for people, communities and the planet – now, and for the long term. 

Charity Bank offers a range of easy access, notice, fixed term, accounts, and we lend exclusively to organisations with social purpose. 

Charity Bank holds a Trustpilot score of 4.2, reflecting strong customer satisfaction and trust. 

Eligible deposits are protected up to £85,000 under FSCS. 

This announcement coincides with the launch of Charity Bank’s new campaign, Your Reserves Can Do More, which aims to inspire charities and social enterprises to put their reserves to work for social good. The campaign highlights how savings with Charity Bank not only earn a return but also help fund projects that tackle disadvantage and strengthen communities across the UK.