Charity Bank has announced the first step in an expansion of its services with the strategic alliance with Investing for Good, the specialist social investment advisor.

Geoff Burnand and Caroline Mason, co-founders of Investing for Good have joined Charity Bank as chief investment officer and chief operating officer, respectively.

Malcolm Hayday, chief executive of Charity Bank said: “The strategic fit with Investing for Good is very strong and our combined strengths will hasten the development of a broad range of social investment services at the most critical juncture for financial services in a generation.”

Geoff Burnand added: “Charity Bank is one of the pioneers in social banking and has a unique ethos. It has a strong track record in development finance supporting charities and social enterprises across the UK, often working in marginalised communities.”

Charity Bank uses its depositors’ money solely to support charities and social enterprises.

It finances projects and organisations that it considers to be viable, but which are not always commercially bankable, or where the organisation has been offered terms that are not appropriate to its situation.

Investing for Good is a Community Interest Company and a regulated investment advisor.

Its mission is to embed social investing into mainstream capital markets and other investors including foundations, wealth managers and asset managers to drive an array of solutions to tackle such issues as education, climate change, health and poverty.

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