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JOIN US.. If you are interested in our work then there are two main ways to show your support. Organisations can take out free membership of SCRT. We now have a new Associate Membership category for organisations and individuals not eligible for Full Membership. All organisations and individuals working in the sector can, however, open an Anchor Deposit Account.

 
Welcome to SCRT's May 2015 e-Bulletin
 
Dear FNAME
 
This month the big banks were fined £3.9bn for rigging the foreign exchange markets. This is something that happened after 2007/08 financial crash and continued up to 2013. Clearly the financial crash has not made the big banks break from their old habits. People need to vote with their feet and move to banks that operate in a socially responsible and ethical manner. 

One outcome of the events of the last decade is that all banks are now subject to greater and more costly regulations and rules even those not involved in speculative behaviour. For our partner Airdrie Savings Bank, this has resulted in significant changes and very difficult decisions. Rod Ashley CEO said "These changes will put the bank on a footing which should lead to a sustainable and good future, with the bank being better able to serve our communities through time". 

This bulletin touches on Crowdfunding tips; What's happening in American; Big Society Capital's 'Conversation'; SIS's new Community Fund; The role of Venture Capitalists in Social Investment and SCVO's new bank comparison table.

Our feature organisation is 'Our Power' who recently received an Airdrie Savings Bank loan.
SIS  launch new Community Capital Fund 
 
SIS launched its Community Capital fund this week. This is the first fund in Scotland to offer the 30% Social Investment Tax Relief to investors who want to support the growth of social enterprises generating sustainable social and environmental impacts. The use of the tax relief enables SIS to offer loans to social enterprises at a cost lower than that secured through other sources. See more
Encouraging the Third Sector to Switch Banks 
 
SCVO and TFN have launched a new bank account comparison table outlining the various options available to third sector organisations. Whilst a lot of organisations will find the table useful, by focusing only on the service and financial products provided by banks, it misses the opportunity to assess how ethic and socially responsible the banks operates are. See more
 
Are there too many Venture Capitalists (VC) in Social Impact Investment?
 
What is the right balance between financial and social return in Social Investment? If social investors are really interested in social as well as financial return, then the amount of money that the third sector retains is crucial to their continuing success. VC terminology and financial models are increasingly shaping the social investment agenda in the UK and with that comes concern that we are creating a new Asset Class. See more
Facebook most important tool for successful Crowdfunding
 
The average, successful Crowdfunding campaign in the UK last year raised £4,375. So Crowdfunding probably isn’t going to be a solution for everyone. But if you think that Crowdfunding is suitable for your organisation, then this is a very useful article with lots of hints and tips on how to get it right. See more
Keeping an eye on the American Not for Profit Sector  
 
It is always informative to keep an eye on what is happening in the Third Sector across the water The Summer edition of SSIR has some really interesting articles about the blurring of lines between Not for Profit and For Profit sectors and the need to ensure no one sector dominates in society. There is also a useful article on the take over of Trustee boards by Financiers in the USA who now make up 40% of board memberships and 56% of board leadership. See more
 

BSC responds to calls for more transparency 

Late last year SCRT was involved in facilitating the Alternative Commission on Social Investment which reported in April. One of the key recommendations in the report was for greater transparency and for the publication of social investment deals and criteria. In response BSC is to launch a 'Conversation' to find out how they can be more transparent. See more

SCRT Products & Services - FOCUS on LENDERS

‘Our Power’ is a Community Interest Company based in Cairndow Argyll. It is owned by ‘Here We Are’, a registered charity which promotes community development.  ‘Our Power’ produces high quality woodchips for biomass heating systems and for over 7 years has supplied several local companies.
 
Lorna Watt said "We recently required a loan to upgrade our chipping equipment and approached Airdrie Savings Bank on the basis of a recommendation. We were attracted to its favourable business terms and quickly established a good working relationship with the bank. We are delighted that our loan application was accepted and we are now looking forward to the future".
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