Five local banks have entered into an agreement to provide £150,000 per year to Community Savings Ltd. Barclays, HSBC, Lloyds International, NatWest International and Santander International will each contribute £30,000 per year, for three years.
Community Savings Ltd is a registered charity which works to promote financial inclusion in Jersey by providing services, guidance and practical assistance to those most in need. They provide access to basic financial services, including mentoring and emergency financial support, and help members access mainstream banking services.
Minister for External Relations and Financial Services, Senator Ian Gorst, said: “I am pleased that local banks, on their own initiative, have come together to provide a voluntary funding commitment to Community Savings. This will support the outstanding work that Community Savings carries out to ensure that all Islanders have access to essential financial services.
“This is a welcome display of these banks’ commitment to our local community and to the financial inclusion of Islanders and it recognises the important role that Community Savings plays in the community.
“I would particularly like to thank James Pountney, the Chief Executive Officer of Santander International and Non-Executive Director of Community Savings, who coordinated this initiative.”
The Executive Chairman of Community Savings Ltd, Brian Curtis, said: “This is a very welcome commitment from these local banks, which will support our vision to promote financial inclusion in Jersey. The funding will allow us to continue helping those islanders who need our support and it will secure Community Savings’ services into the future.”
Government of Jersey News Release.