Social Investment Scotland support for Leith credit union
CASTLE Community Bank, based in Leith, has received £1 million investment from Social Investment Scotland.
The credit union received the £1M sub-ordinated loan to support their growth and ambition to be a ‘business of scale’, providing ethical and affordable loans and excellent returns for savers.
Castle Community Bank Chief Executive Adrian Sargent said: “I’m delighted that Social Investment Scotland has confidence in Castle Community Bank and has invested £1 million.
“This fantastic investment will reap benefits for not only our organisation but also the communities and members we support in Leith and beyond. This is another important step in our journey to grow the credit union sector and promote financial inclusion in the UK.”
Social Investment Scotland Head of Investments Chris Jamieson, said: “We’re very happy to be supporting Castle Community Bank and its ambitious programme of targeted growth, which will positively impact people in Leith and the surrounding area.
“We see the important role that credit unions play in building a wellbeing economy, particularly when many individuals and households are struggling with the rising cost of living.
“That’s why we are committed to supporting organisations such as Castle Community Bank, who are providing fair and affordable access to finance for the people and communities who need it most.”
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