Lloyds Banking Group guarantees over £50 million to charitable foundations over two-year period
17 June 2020
- Lloyds Banking Group pledges £25.5 million to its four independent charitable Foundations in 2021 in order to providing greater certainty for small charities in response to the Covid-19 pandemic
- Group commitment for the 2020-2021 period totals over £50 million, allowing the Foundations to continue to support over 3,000 small charities
Lloyds Banking Group will guarantee a £25.5 million annual donation to its four independent charitable Foundations in 2021, securing a more certain future during these difficult times for small charities across the UK.
The pandemic has created unprecedented difficulties for the charity sector with large drops in fundraising and funding coinciding with increased demand for services and costs to adapt to meet government guidelines. As the Foundation charities look to restore and recover, the early funding commitment from the Group will help to safeguard their future and the important work that they do.
The funding will help charities across the UK to continue their vital services, which support some of the most vulnerable in society, tackling issues such as domestic abuse, mental health, isolation, homelessness and employability.
Fiona Cannon, Managing Director, Group Sustainable Business, said: “Our four independent charitable Foundations provide vital support to small charities across the UK and Channel Islands every year, and Lloyds Banking Group is proud to have funded them for almost 35 years. The support they provide local communities has never been needed more, so to ensure that they can continue their vital work, we have guaranteed that they will receive the same £25.5 million funding in 2021 that they have received this year. We hope that this certainty will allow them to focus fully on continuing to support local charities and help Britain recover.”
The Foundations combine local knowledge and expertise to help charities to become more effective and financially sustainable. Since 2014, Lloyds Banking Group has donated over £100 million to charities across the UK and Channel Islands through the Foundations.
Lloyds Banking Group also offers practical support, beyond traditional funding to the Foundations and their charities including sharing skills, experience and knowledge with charities. Colleague support is currently being delivered through virtual volunteering and mentoring programmes, sharing digital resources and webinars through the Lloyds Bank digital academy.