Charity Bank has been officially recertified as a B Corp with an impressive new score. In this blog, we will delve into what it means to be a certified B Corp, our commitment to sustainable practise and the efforts that led to our successful recertification.
Charity Bank, the loans and savings bank for positive social change, today announced that Access – The Foundation for Social Investment has committed to invest £2.75m in the bank as part of their Flexible Finance for the Recovery programme.
The bank achieved a record financial result, with a significant profit of £2.7m. Charity Bank will reinvest 100% of its 2022 profit to further its mission and extend its reach to underfunded charities and social enterprises.
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.