Robert Owen Community Banking
Ethical fund provides finance for small businesses, home improvements and community energy projects.
Established in 2006, the Robert Owen Community Banking Fund provides ethical loans for local businesses, people and communities across Wales. It aims to keep wealth in the local economy, provide people with affordable finance, support businesses across Wales, and provide training and a co-working space for entrepreneurs.
The bank has won a number of awards, including the Citi Micro-entrepreneurship award, which recognised the fund’s social and community impact. This includes the delivery of their most successful loan service in partnership with Powys County Council, featuring a zero-interest loan fund. The scheme is helping households and enterprises install renewable energy or improve their energy efficiency, as well as generating income from renewable subsidies in the local economy.
CEO Mick Brown said: “This shows that switching to renewables and reducing energy consumption is good for the environment but even better for our local economy. Local trades have benefited significantly from the zero interest finance available to householders across Powys.
“Powys-based renewable energy installers, builders and energy efficiency specialists are all playing their part in growing our local economy while reducing our carbon footprint.”
Tags Community banks
- Creating good city economies in the UK. Friends Provident Foundation, 12/16
- Powys Ethical Finance Provider Scoops Top UK Accolade from International Foundation for Environmental and Social Impacts. Business News Wales, 12/5/18
- Email firstname.lastname@example.org
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Avon Mutual is one of a new breed of community-owned banks that aim to put people and the planet first.
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