TSB bank raised double the amount for charity after switch from national to local focus

28 Sep 2016 News

TSB branch Newcastle

TSB has raised £1m for local charities, which is double the amount it was raising when it had a single national charity of the year. 

Bola Gibson, head of community at TSB, was speaking at a fringe event at the Labour Party Conference earlier this week, when she said that her bank had “got rid of the national charity of the year concept” as part of a plan to work more in partnership with communities.

The TSB brand returned to the high street three years ago and Gibson said that its “business purpose and social purpose more closely aligned”. 

It launched its community programme in 2015 and has so far raised £1m, about £160,000 directly from the bank and the rest from fundraising by staff and customers or donations in kind.

She said that since getting rid of the "charity of the year" concept, TSB now supports “about 450 charities” after branches were “empowered to choose a local cause”. 

She added that it is still a “fledgling” programme but it has raised “about £1m” so far, which is “double the amount we raised when we were supporting a single charity”.

‘Local charities need support for core costs’

Rebecca Bunce, policy and engagement manager at the Small Charities Coalition, was also speaking at the event and told the audience that it was really important to offer smaller charities support with core costs as well as project costs. 

“Without core funding you can’t do good fundraising,” she said, which can lead to the executive team “not working well with trustees”.

She added: “We have got to remember that those people [fundraisers] need support and make sure that there is something there for people looking for support.”

She also said: “If going to create programme make sure that it is sustainable and is not going to go away after one year.” 

Bunce said one thing that smaller charities found really  helpful was support from local business to “raise awareness” because “people need to know a small charity exists as they don’t have brand recognition”.  

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