Skip to Main Content

A Community Wealth Fund would invest in the neighbourhoods that most need it, building community confidence and capacity and supporting the development of services and facilities that meet the needs and reflect the aspirations of residents.

The campaign was successful in securing dormant assets for the Community Wealth Fund. These are financial assets which are dormant or orphaned because their owner cannot be found. Recently the scheme was expanded to include a broader range of assets beyond bank and building society accounts, for example, bonds, stocks, shares and insurance policies. This will make more funding available.

An Alliance of civil society, public and private sector organisations advocated for the Community Wealth Fund to be established based on four key principles:

Provision of long-term community funding
Neighbourhood investment at the hyper-local level
Community-led decision making
Building community confidence and capacity

Distribution according to these principles would shift the dial in these areas, building community confidence and capacity and supporting the development of services and facilities that meet the needs and aspirations of residents.

 

Discover the Community Wealth Fund timeline