Jon Metcalfe, Deputy Chief Executive of YMCA Together, was getting increasingly frustrated by conversations with other lenders. His experience with Charity Bank couldn’t have been more different. Find out why.
YMCA Together offers accommodation and support for people at risk of homelessness in Liverpool, Sefton and Knowsley. The charity recently bought 10 properties with the help of a loan from Charity Bank.
The Church of England’s Social Impact Investment Programme (The Archbishops' Council) has made a £1.1m equity investment in Charity Bank, an ethical bank that uses its savers' money to lend to charities, social enterprises, and faith based organisations.
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.