One of Central YMCA’s main income streams was ravaged by the pandemic. Rather than draining its reserves, Central YMCA is using a £4m loan from Charity Bank to support its recovery. Kieran Connolly, Chief Resources Officer at Central YMCA, explains why.
Micro Rainbow offers lesbian, gay, bisexual, transgender, queer and intersex (LGBTQI) asylum seekers a holistic package of support, including shared housing. Charity Bank is lending Micro Rainbow £1.5 million.
Many of the 2,000 lesbian, gay, bisexual, transgender, queer and intersex (LGBTQI) persons who claim asylum in the UK every year end up facing discrimination and abuse, even in their shared accommodation.
Charity Bank, the loans and savings bank for positive social change, today announced £4m in new equity investments from six new investors as well as an approved investment from its existing shareholder, Big Society Capital.
Your eligible deposits with Charity Bank are currently protected up to a maximum of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Total balances above £85,000 are not protected.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
Deposits from large companies and small local authorities are covered by the FSCS deposit protection from 30 January 2017 up to a maximum of £85,000.
Visit the FSCS website for more information or call the FSCS on 0800 678 1100 or 0207 741 4100.