Tens of thousands of businesses, social enterprises and people thrive every year thanks to community development finance. But many more are still excluded from affordable options. It’s time to grow community development finance institutions. For people.… Continue reading
Category: News
As Provident crumbles ethical lenders build better future for 31,000 customers
Community Development Finance Institutions helped 31,000 people save £11 million in interest, according to a new report published today (19 May 2021), which highlights the urgency of scaling-up the ethical, not-for-profit affordable credit sector. Politicians across… Continue reading
Cross-party acclaim for community development finance as report reveals thousands of businesses supported
Filling a gap, fuelling thousands of businesses: report shows 12,640 jobs protected by financial superpower Thousands of jobs and businesses have the UK’s “financial superpower” to thank for lending where banks could not, according to new… Continue reading
How to Scale Up a Financial Superpower: Politicians and Stakeholders on CDFIs’ Unique Impact
The UK finance system has a superpower: Community Development Finance Institutions (CDFIs). These locally-rooted social enterprises get finance to people, businesses and social enterprises who can’t get the finance they need from banks. Here champions of… Continue reading
10xRF showcases CDFIs’ superpowers
The financial system has a secret superpower. Community Development Finance Institutions (CDFIs) create jobs, nurture businesses and social enterprises, and invest in people and communities. We’re championing their impact and examining how to magnify it over… Continue reading
Responsible Finance welcomes the FCA’s timely vulnerability guidance
“The FCA’s bold new guidance on vulnerability and its particular emphasis on inclusive design are welcome developments that will improve outcomes for all financial services customers, not just those who are more susceptible to harm. In… Continue reading
MPs urge Government to boost recovery by backing community development finance
23 February 2021: MPs including Sir Iain Duncan Smith, the former leader of the Conservative party, have backed calls to the Chancellor to inject £25m into the community development finance sector to boost the UK’s recovery… Continue reading
Responsible Finance reacts to the FCA’s Financial Lives 2020 Survey
The FCA’s new Financial Lives survey exposes the fragile state of our finances, both prior to the pandemic and now. In February last year, 20% of UK adults had low financial resilience – meaning they were… Continue reading
Responsible Finance welcomes the Woolard Review programme for reform
We welcome publication of the Woolard Review and its programme for reform. Its emphasis on boosting alternatives to high-cost credit, and its holistic approach to issues including the treatment of the very poorest when they need… Continue reading
Dozens of banks, investors and institutions commit to financing a just transition for the UK
Banks, investors and financial institutions today joined forces with universities and trade unions to launch the UK’s first alliance to finance a just transition. Coordinated by the Grantham Research Institute on Climate Chance and Environment at… Continue reading