Thursday, 7 January 2016

Global Award for Community Finance (Ireland), a leading provider of social finance to the community and voluntary sector

Community Finance (Ireland), a leading provider of social finance to the community and voluntary sector in Ireland has recently won a global award in recognition of their ongoing work.

Community Finance (Ireland) won the category, ‘Best for Affordable Community Finance’ at the 2015 Finance Awards, organised by London based Wealth & Finance Magazine. The 2015 Finance Awards were developed to recognise and reward excellence, best practice and innovation in finance, and were open to individuals and firms operating and working in a wide range of industries, including personal finance, corporate finance, accountancy and financial management, reaching out to the four corners of the globe.

Under the leadership of Associate Director Donal Traynor, Community Finance (Ireland) have over €100 million available in funding and are targeting organisations and social enterprises which are delivering an immediate social impact to the community but cannot access finance from traditional lenders like banks or building societies.

Community Finance (Ireland) is part of the UCIT Group which has to date, invested more than €70 million in over 400 community and volunteer organisations across a range of sectors and projects, including enterprise and workspace projects, rural development projects, childcare schemes, housing associations, community transport, energy & environmental initiatives and sports and recreation facilities.

To be named a Finance Award winner is no mean feat: it is not only a “stamp" of professional excellence, it is also a badge of merit, integrity and leadership, and these awards have brought together some of the biggest and most influential names in the financial world. Jonathan Hicks from Wealth & Finance International said: “With the global economy continuing along the road to recovery, the continually exceptional performance from the global finance industry has been a key factor in this upward trajectory. I am immensely proud and honoured to be able to spotlight these deserving and dedicated finance businesses and the professionals who drive them”

Community Finance (Ireland) is a volunteer led organisation which was established in response to the decreasing financial support and the difficulties experienced by community organisations in accessing finance. An added benefit from borrowing from Community Finance (Ireland) is that it creates a virtuous circle for the community enterprises, as all profits are retained and recycled for re-investment, which increases the level of available funds for other community organisations.