Charities save cash to weather the financial storm

Fundraising | Celina Ribeiro | 11 Dec 2008

Charities have ramped up their savings levels, new figures from the Charities Aid Foundation Bank reveal.

An extra £100m was banked by charities at the CAF Bank in the 12 months ending October 2008, bringing the total worth of savings deposits held at the not-for-profit to £977m.

The penny-saving push from charities is being attributed to preparations for the widely prediction recession as well as the drop in confidence in established commercial banks. The recent collapse of Icelandic banks has prompted high profile losses for some of the UK’s top fundraising charities.

This year’s increase was significantly up on the year ending October 2007, which saw an extra £10.9m pumped into CAF savings deposits in that year.

Directory: Charities Aid Foundation
Who's Who: Celina Ribeiro

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