Member Article

£2m invested in North West organisations by Unity Trust Bank creating 369 jobs

Unity Trust Bank has published its third Social Impact Report, revealing that it has invested nearly £2 million in North West organisations that are committed to community, social or environmental benefit during the past year, creating at least 270 jobs in Merseyside.

The bank made 57 loans totalling £29.9m during 2014, creating and protecting 3,423 jobs in the UK including 369 in the North West.

Unity is now set to exceed its three-year lending target of £100m by the end of 2015.

Over 12% of lending was distributed to organisations in the North West including Merseyside based Neighbourhood Services Company.

A £425k loan assisted with the purchase of Croxteth District Centre with buildings including a public house, retail units and function space, as well as land for development.

With this investment Neighbourhood Services will be able to host community activities and run the pub as a training and enterprise centre as part of its community involved strategy focussing on youth.

Relationship Manager for the North West at Unity Trust Bank, Margaret Porter, said: “The Neighbourhood Services Company has record of rejuvenating and increasing employment and focuses its efforts in areas of economic and social need.

“With Unity’s investment, it will be able to continue to strengthen and improve its community development work throughout Merseyside, spreading the social impact that Unity aims to support in the North West.”

Director of Business Development and Marketing at Unity Trust Bank, Peter Kelly, said: “In 2013 we declared our £100m lending target over three years.

“We’re well on our way to meeting this and look to the future with anticipation and determination. As we continue to grow, we will continue working to increase our social impact, engraining our founding principles into every aspect of our business strategy.

“We want to become the go-to bank for the civil society, providing businesses and organisations nationwide with financial services that will allow them to grow their social impact, just as we seek to grow our own.”

Unity’s lending is split across charities (53%), CDFIs (25%), Registered Social Housing Providers (16%) social enterprises (4%) and industrial and provident societies (2%).

This was posted in Bdaily's Members' News section by Sophia Taha .