In this blog, Ed Siegel, CEO of Charity Bank, shares how our customers have been a source of inspiration and how, as a social lender, we are adapting to meet the multiple challenges presented by the COVID-19 pandemic.
No matter what the mission or size of your charity or social enterprise, renting can often feel like a drain on your resources. A huge outgoing expense that provides no real security or return, it can also restrict opportunities to develop or expand.
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.