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Charity Bank shows savers where its money goes

PUBLISHED: 18:31 13 October 2008 | UPDATED: 13:41 05 October 2010

CHARITY centre bosses in London's East End got a visit from a bank—but there was no fear of warnings to tighten belts because of the credit crunch. Bethnal Green's Oxford House arts centre got the visit from Charity Bank, the only bank in Britain where depositors' money is lent solely to charities, voluntary groups and social enterprises

CHARITY centre bosses in London’s East End got a visit from a bank—but there was no fear of warnings to tighten belts because of the credit crunch.

Bethnal Green’s Oxford House arts centre got the visit from Charity Bank, the only bank in Britain where depositors’ money is lent solely to charities, voluntary groups and social enterprises.

Investors came to look round on Thursday when the bank organised a trip for depositors to see how their money is being used.

They also visited Circus Space, the performance training centre in Hoxton, as the halfway point in the bank’s nationwide tour of the charities it supports.

Oxford House, a community centre first established in 1884 which is involved in a variety of youth, immigration, arts and community work, has been lent nearly £400,000 as working capital to ease cash flow to help the £1.6 million development of its visual and performing arts centre.

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