SCRT eBulletin 3 - April 2015

Welcome to SCRT's 3rd monthly e-Bulletin

Dear FNAME

A big WELCOME to all our new SCRT members who have signed up over the last month – as well as a big THANK YOU to the many organisations and individuals who have also taken the opportunity of opening an Anchor Savings Accounts with our banking partner, Airdrie Savings Bank.

One the key principles behind the establishment of SCRT is to look at the way we use our money and the choices we make with our money and, in doing so, ask ourselves if it could be making a greater contribution to a more equal society. However, this is not easy and it requires us to look beyond the headline-grabbing interest rates and ask what we want from our banks. Is it about the best interest rate – often available as a result of highly speculative stock market behaviour – or is it about something else – something more in keeping with the values of our sector.

Airdrie Savings Bank

Established in 1835, Airdrie Savings Bank is the only Independent Savings Bank left in the UK. It operates an ethical business model that is different from the large mainstream banks. It has no shareholders and does not pay dividends and it has a voluntary board of trustees. That is why SCRT chose it as its banking partner ...more

Scottish Government puts £12 million in Charitable Bonds

A Charitable Bond is an ethical savings bond that allows investors to share or donate the interest on the bond to a charity of their choice. The Scottish Government has recently put a further £2m into charitable bonds in addition to the £10 million that they invested in 2013. The Scottish Government anticipates that it will generate over £1 million grant funding for community-led regeneration.....see more here....and here

People Powered Money - Why Mutual Capital Matters

Like the SCRT, the Ecology Building Society believes that financial gain is not the sole measure of value for many people. Instead, it argues that people hold a more nuanced view of the world and money. They asked members who had expressed an interest in investing in Ecology what motivated them and the vast majority cited a combination of - support for Ecology's work; a shared interest in social and environmental goals and a modest financial return . However as Ecology has found out that means that they are seen to be a risky business...see more

London's short termism isn't right for social investment

Since the establishment of the Social Investment Task Force in 2000, by Gordon Brown, then Chancellor of the Exchequer, the long term plans of successive governments for Social Investment is to cement Social Investment as an asset class traded in the City of London. Now commentators are telling us that the very culture of that financial establishment is not suitable for SI ..more

Charitable Foundations..not fit for purpose

Although this article acknowledges that there are some good grant funding bodies out there, broadly I think this list of 20 things wrong with grant funders has a lot to recommend it, not least No9 which talks about the experiences of people making the decisions; No12 turning social leaders into perpetual beggars and No18 using conservative lawyers and accountants to excuse risk aversion....more

New £2million P2P Fund for Social Enterprises

This new Crowdfunding fund reflects the fact that finance continues to be an issue for Third Sector organisations. In particular organisations are struggling to access smaller amounts of money, with research showing that the average amount needed by an organisation is £58k. This is consistent with SCRT’s own research undertaken in 2013/14...more

SCRT Products & Services - FOCUS on ANCHOR DEPOSIT ACCOUNT HOLDERS

Ekopia is a community benefit co-operative located in west Moray that raises funds to support local community enterprises. Our principal activity is investment in social enterprises via community share issues and we have supported diverse projects including a community shop, renewable energy, affordable housing and holiday accommodation. We also run Britain’s longest-running local currency, the Eko. See www.ekopia.org.uk/

“There is often a gap between raising funds and making an investment and for that reason we have opened an Anchor Deposit Account with Airdrie Savings Bank so that this cash can support other social enterprises in Scotland in the meantime”
Alex Walker, Chairperson, EKOPIA

JOIN US.. If you are interested in our work then there are two main ways to show your support. Organisations can take out f ree membership of SCRT. And organisations and individuals working in the sector can open an Anchor Deposit Account .

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