Share

Public backlash against bankers prompts Bankers Benevolent Fund rebrand

Bank Workers Charity
News

Public backlash against bankers prompts Bankers Benevolent Fund rebrand1

Governance | Tania Mason | 11 Apr 2011

The Bankers Benevolent Fund has changed its name to the Bank Workers’ Charity in a bid to distance itself from the negative connotations associated with the word ‘banker’ and the outdated perceptions of the word ‘benevolent’.

The charity’s chief executive Fred Payne said the organisation had been concerned for some time that people do not understand the word ‘benevolence’ and that it has an old-fashioned, outdated image.  He led a four-year campaign called ‘Benevolence Today’ that tried to explain what the word meant, but “didn’t get very far”.

“We wanted to drop that word because it doesn’t mean much in today’s world.”

Payne also admitted that the recent public backlash against fat-cat bankers threatened to distort perceptions about what the charity was for.

“We work for low-income bank workers and their families, not senior bankers earning huge salaries and bonuses,” he said.  

“We occasionally get people making a joke about bankers – one thing I do find is people deliberately misrepresenting the name.

“There are 420,000 people working for banks and 18 per cent of those are part-time workers, women with caring responsibilities working in call centres and so on. The last people we would be looking to help with grants are senior executives in banks.”

He said the charity wanted to get back to a name that was plain and simple.  “We are here for bank workers and we are a charity, so that seemed right.”

The charity adopted the moniker ‘Bankers Benevolent Fund’ in 1984, after its previous incarnation, the Bank Clerks Orphans Fund, merged with the much smaller Bankers Beneficent Society.  It will remain the legal name of the entity.

New products and services

The rebranding, which will be formally unveiled on 16 May, coincides with the launch of a new set of products and services from the Bank Workers’ Charity.  It has been forming partnerships with a number of other organisations to create services tailored to the needs of beneficiaries and with the intention of reaching new audiences that might benefit from its help.  Partners include the National Autistic Society, Arthritis Care, Turn2Us and Leonard Cheshire.

One new product being explored is a ten-week training and development programme to provide opportunities for 1,000 disadvantaged youngsters to get financial services jobs in the City over the next three years.  Former Charity Bank executive Susie Nouhan has been commissioned to produce a proposal for discussion with the community investment teams at large banks and potential delivery partners.  She is hoping to deliver her report in September 2011.

Payne said this initiative particularly chimed with the charity’s historic purposes, which were to educate the orphans of bank employees to enable them to get jobs.  “We’ve helped 9,000 children in our history and the challenges faced by today’s youngsters are very hard to overcome without help.”

The charity is also examining new forms of financing to ensure future sustainability.  “We hope we can prove that new initiatives such as Social Impact Bonds and the like can be made to work in a business and employer setting so that other occupational funds can follow our model,” said Payne.

Bob
11 Apr 2011

Good thinking !

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Free eNews

Charity trustees feel alienated by social investment, says charity CEO

30 Sep 2014

Social investment is not reaching its potential because trustees feel "alienated" by the language used,...

Crime Reduction Initiatives doubles income in five years

30 Sep 2014

Crime Reduction Initiatives (CRI) has reported income last year of £116.8m, its highest-ever revenue...

Social Investment Business chief says Hurd was "moved" from ministerial post

29 Sep 2014

The chief executive of the Social Investment Business published a tweet on Saturday night shortly after...

GOSH Children's Charity to resume telephone fundraising with NTT

30 Sep 2014

Great Ormond Street Hospital Children’s Charity has said it will resume telephone fundraising with NTT...

Help the Hospices rebrands as Hospice UK

29 Sep 2014

Help the Hospices has rebranded to become Hospice UK to better reflect the “breadth, dynamism and flexibility”...

NSPCC rebrands and moves on from the Full Stop campaign

26 Sep 2014

The NSPCC has rebranded in a bid to turn around its declining income and better convey the work it is...

JustGiving page for Manchester Dogs’ Home receives four donations a second

15 Sep 2014

JustGiving has said that donations going to an appeal for the Manchester Dogs’ Home following an arson...

Commission's new online charity search to launch soon after delay

15 Sep 2014

The Charity Commission’s searchable online register of charities is due to launch in beta this autumn,...

Charities warned that digital campaigns can be 'counterproductive'

9 Sep 2014

Charity digital campaigns can be counterproductive and will need to change to keep the attention of those...

Join the discussion

Twitter
 
Training

Attending our one day courses is a highly effective way of ensuring new and existing trustees fully understand their role, responsibilities and liabilities.

>> Find out more <<