Local Trust partners with Community Investment Coalition
Local Trust is supporting the Community Investment Coalition to increase access to affordable finance for all communities
The Community Investment Coalition is a partnership of national organisations including financial providers, charities, trade associations and academic bodies.
Local Trust delivers the Big Local programme with an investment of over £200m from the Big Lottery Fund. Big Local is happening in 150 communities across England over the next 15 years. It provides residents in each community with at least £1m and a range of other support and funding to develop ways of making their areas even better places to live.
Access to affordable finance is emerging as an issue across a number of Big Local areas, both at the personal level and for people wanting to develop local enterprise.While personal debt is a difficult issue to discuss, many areas have decided to prioritise social investment as a way to address the problem. Some Big Local areas are planning to invest money into their local credit union or community development finance institution (CDFI) to increase the availability of affordable credit in the area.
For further details about what Big Local areas are doing in this area, why not have a look at our case study titled – Credit, affordable finance and opportunities for social investment.
With the Community Investment Coalition we are calling on:
- Government to create a level playing field so that the community investment sector can compete on fair terms with high street banks;
- banks to invest in communities and the community investment organisations that serve them;
- the community investment sector to step up its scale and reach.
Debbie Ladds, chief executive of Local Trust said:
“We are pleased to support the Community Investment Coalition. What the coalition hopes to achieve aligns with the priorities that people in Big Local areas are now identifying as important to them. Increased access to affordable finance for all communities will support the activities that people in local areas are starting to put into place.”
Jennifer Tankard of the Community Investment Coalition (CIC) said:
“I am delighted to welcome Local Trust as a partner of the coalition. The CIC has always prided itself on its links to grass roots and community groups across the UK. Our campaign work is all about addressing problems created by a lack of fair finance for communities across the country, and we look forward to working with Local Trust on this.”
The Community Investment Coalition is led by a partnership of national organisations, as well as Local Trust the partnership includes:
- The Community Development Finance Association
- The Community Development Foundation
- New Economics Foundation
- Centre for Responsible Credit
The Community Investment Coalition is funded by contributions from its coalition partners and charitable donations. It has received funding from the Lankelly Chase Foundation and the Barrow Cadbury Trust.
Notes to editors
- Big Local is administered by Local Trust using over £200m in funding from the Big Lottery Fund. It was launched in July 2010 to support 150 small urban and rural communities to come together to make their areas even better places to live.
- Big Local is targeting areas that may not have been successful in gaining funding and resources in the past. Each Big Local area is receiving at least £1m Lottery funding over at least the next 10 years, along with support, training, and networking opportunities, to help residents develop plans to improve their area and empower them to find solutions that work for their communities. More information on Big Local is available at ...
- Local Trust, a company limited by guarantee with company number 07833396 and charity, number 1147511. Local Trust is the corporate trustee of Big Local Trust, a charitable trust with charity number 1145916 established by the Big Lottery Fund and Local Trust to fund Big Local. Local Trust works closely with Big Local areas and partner organisations to support residents to help them make best use of Big Local and their funding.
- For enquiries about Local Trust or Big Local please call 020 3588 0565 or email: firstname.lastname@example.org
- Big Lottery Fund, the largest of the National Lottery good cause distributors, has been rolling out grants to health, education, environment and charitable causes across the UK since its inception in June 2004. Full details of the work of the Big Lottery Fund, its programmes and awards are available on the website www.biglotteryfund.org.uk Big Lottery Fund Press Office: 020 7211 1888, Out of hours: 07867 500 572, Public enquiries line: 08454 102030, Textphone: 08456 021
Community Investment Coalition
The Community Investment Coalition is a partnership of national organisations, which aims to increase access to affordable finance for all communities.
Membership includes the Community Development Foundation (CDF), the Centre of Responsible Credit (CfRC), the New Economics Foundation (nef), CCLA and the Community Development Finance Association (CDFA).
We are campaigning for:
Increased transparency and public accountability of financial service providers to support consumer choice and allow affective intervention in under served markets.
Increasing diversity of the finance sector with a greater range of providers offering a wider range of fair and affordable products to all households, individuals, small and micro businesses and communities.
Sustainable local economic growth with a greater share of locally generated income remaining within communities to drive economic growth.
More information on the Community Investment Coalition is available at: ...