New Charity Launches

There's a warning that the perfect storm is set to hit charities due to rising demand and less money.

The Scottish Community Re-investment Trust will launch today.

The independent charity is aiming to transform Scotland's third sector by making workers think about how they control their finances. The trust's first initiative is a specially designed new savings account to be introduced today.
 
With a lack of Scottish-focused banks offering any longer a transparent way for people or third sector organisations to invest in line with their values, and with the existing financial framework failing to adequately meet the needs of charities and socially focused organisations, the trust is setting out to create radical change.
 
It plans to help independent charities and socially beneficial organisations to harness their collective assets, strengthen their financial expertise and gain access to financial services tailored to their specific needs.
 
The new Anchor Savings Account, provided by Airdrie Savings Bank, Britain's last independent savings bank, offers a fresh and tailored focus for third sector savings. By connecting hundreds of separate accounts beneath one umbrella, the pioneering account will increase the impact of the sector's shared financial clout.
 
Deirdre Forsyth, Chair of Scottish Community Re:Investment Trust said: 

"Scotland's third sector, which does huge amounts of public good, desperately needs access to a financial infrastructure that matches its values and ways of working. For charities and socially beneficial organisations, the current financial system is broken beyond repair, leaving them hampered by scattered resources, unsuitable products and unmet needs."
 
"By acting together and harnessing its collective assets, and by strengthening its understanding and knowledge of socially responsible use and management of money – the third sector can use its substantial financial resources to invest in its own future in alternative and better ways than is currently possible."