Introduction
Introduction
Methodology Impact
Commercial
Loan Book by Sector
Loan Book by Geographic Region
Social Impact by Sector
Social Impact by Geographic Region
Social Impact Lending Growth over 5 years
Social Impact Loan Numbers
Social Impact Case Studies
Community
Giving money meaning
Helping good people do great things with money.
Reliance Bank has been at the forefront of social impact banking since 1890, when we were formed as the bank for The Salvation Army Reliance Bank is proud of its shareholder The Salvation Army International who, motivated by the love of God, is working to fight injustice, and support thriving, resilient, holistic communities and individuals. In such ways, Reliance Bank partners with its customers as a transformative enabler and is itself enriched as a service provider
Power to change lives for the better
In the right hands, money can be a force for good That’s why Reliance Bank prioritises business lending to organisations that deliver a positive social impact in the UK.
The success of Reliance Bank is all about facilitating the life-changing work of our customers including The Salvation Army who are also our sole shareholder. We call it giving money meaning
Customers that bank and place deposits with us play their own part in helping to provide funding to the important impact sectors that we support Our customer’s deposits are used to provide funding to organisations that provide health and social care, affordable housing projects and treatment centres that help people affected by gambling-related harm
We provide funding to organisations like food banks who reduce hunger for people living in poverty And our funding is used by community centres that allow young people who feel abandoned by society, by school, by family, the opportunity to feel cared for and included.
Aligned to our mission, Reliance Bank provides lending to support the United Nations’ Sustainable Development Goals (SDG’s) - a blueprint for governments, businesses and societies around the world to help reduce poverty, protect the planet’s future and improve lives
Reliance Bank’s funding helped reduce hunger for 2,100 people and reduce poverty for 545 people. Our funding has provided 2,900 people with community centres and facilities and 443 people have received personal learning and development opportunities
We are proud to be the first bank to have been awarded The FairLife Mark. This ethical accreditation has been awarded to our savings accounts as well as our business loans and recognises the bank’s commitment to fair, transparent and customer-focused financial services.
Also in the 2024 Charity Finance Banking Survey, Reliance Bank achieved first place for Relationship Management. So, we outperform high street banks for customer satisfaction!
We have recently taken significant steps to enhance our environmental sustainability. As part of the building’s refurbishment the installation of energy-efficient LED lighting throughout the entire facility has greatly reduced energy consumption And motion sensors have been installed to further conserve energy.
Reliance Bank is a socially responsible bank of choice for people who want their money to make a difference Our staff share this vision and are enriched in the knowledge that the bank delivers positive societal outcomes aligned to the mission of The Salvation Army
Nikki Fenton Chief Executive Officer
This report is based on data during the period 01/04/2023 to 31/03/2024. The data is drawn from actual lending performance validated as part of the Bank’s annual audit process. There is also data kindly provided with our customers’ permission covering more specific impact areas from loans made to them in this period Case studies bring the data to life and are provided with our customers’ permission
Reliance Bank aligns its lending practices to the United Nations’ Sustainable Development Goals (SDG’s) – a global framework for achieving a better and more sustainable future.
The 17 Sustainable Development Goals were adopted by the UN member states as part of the 2030 Agenda for Sustainable Development and are a blueprint for governments, businesses and societies around the world to help reduce poverty, protect the planet’s future and improve the lives of everyone.
Reliance Bank want to be the socially responsible bank of choice for people who want their money to make a difference.
We prioritise our business lending to charities, businesses and not-for-profits delivering positive social impact in the UK We specifically focus on the impact themes of Charity, Community, Faith, Social Housing, Skills, Education, Employment and Healthcare, financial inclusion and the environment
Reliance Bank’s funding helped reduce poverty for 545 people
Reliance Bank’s funding helped reduce poverty for 14 organisations 545
Reliance Bank’s funding helped reduce hunger for 2,100 people
Reliance Bank’s funding helped 256 people with their health care needs
Reliance Bank’s funding created and renovated 115 (healthcare) bed spaces
Reliance Bank’s funding helped 9 healthcare centres 9
Reliance Bank’s funding helped 443 people receive personal learning and development opportunities
funding helped 2,900 people with community centres and facilities 14 2,100
Reliance Bank’s funding helped 34 people benefit from receiving apprenticeships, training or internships Reliance Bank’s funding created and protected 76 jobs Reliance Bank’s funding enabled 21 projects to be undertaken to improve local communities Reliance Bank’s funding helped 5 organisations focus on sustainable consumption
Reliance Bank’s funding helped 3 organisations achieve environmental goals
Reliance Bank’s funding helped 3 organisation focus on climate action
Reliance Bank has recently taken significant steps to enhance its environmental sustainability. A major improvement as part of the building’s refurbishment is the installation of energy-efficient LED lighting throughout the entire facility. This upgrade involved replacing outdated fluorescent and halogen light fittings, a move that greatly reduces energy consumption.
In addition to the lighting overhaul, motion sensors have been installed to further conserve energy. These sensors are now operational on the 4th and 3rd floors, in the bathrooms, and along the central staircase, ensuring lights are only on when needed
To further support its green initiatives, the bank is also about to introduce mixed recycling, promoting better waste management and reducing its overall environmental footprint. These steps reflect Reliance Bank’s commitment to creating a more sustainable and eco-friendly workspace and is switching to a "Green" energy supplier
Both our key commercial and mortgage lending areas surpassed the £125M point as we met an important milestone in our strategic plan.
£57.6M to £61.4M
Our total commercial loan portfolio has grown from £57 6M to £61 4M
£15.2M
In the year 2023/ 2024 (for the period 01/04/2023 to 31/03/2024)
£15 2M of new lending was provided, this is an increase of 16%
The £15.2M represented 51 loans, and 33 of those loans valued at £11 6 were provided for positive social impact to important impact sectors including social housing, education, faith, community service and healthcare
Non Social Impact
£18 63M
Faith
£11 57M
Community
£4 84M
Education
£2 41M
Healthcare
£9 25M
Dementia Day Care
£581K
Social Housing
£4.91M
Social Impact Investment / Development
£9 11M
North West Value: £2 31M
West Midlands Value: £3 87M
South West Value: £9 88M
Yorkshire & Humberside Value: £1 58M Other Value: £6 10M
East Midlands Value: £2 24M
Greater London Value: £13 54M North Value: £2 28M
East Anglia Value: £2 84M
Outer Metropolitan Value: £3 77M Outer South East Value: £12.89M
Social Impact Loan Numbers
Reliance Bank’s funding helped 2900 people with community centres and facilities 2,900 21
Reliance Bank’s funding enabled 21 projects to be undertaken to improve local communities
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050 am and the congregation of All Saints Hampton (ASH) have created a lively and inviting environment at their Church in the leafy suburbs of London. Music, fun and laughter are at the heart of worship at ASH. And the completion of the new Church Hall has brought the Community closer together.
The previous Church Hall was no longer fit for purpose. Poor lighting, poor heating and a 1950s’ configuration made it impossible to host multiple functions. ASH also own a separate property that provides an important source of rental income that allows the Church to deliver the needs of the Community The threebedroom bungalow needed to be modernised to make it habitable for a local family to live, grow and thrive in
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank’s funding enabled Reverend Donna and All Saints Hampton to galvanise support from the builders to create a well-thought-out layout that allows the ASH team to run more courses, one-off sessions and Community events for the people of Hampton and the surrounding area. All this helps bring people together and increase the number of church members actively involved in some way.
Reliance Bank provided funding to All Saints Hampton to assist with the internal fit-out to the Church Hall and refurbishment works on the pre-owned three-bedroom bungalow next to the Church.
Reliance Bank’s funding enabled the Church Hall to be re-configured and refurbished and this has provided a lot more freedom in the form of breakout rooms, office space, catering quality kitchen and separate access to different parts of the Hall, so that multiple functions can be held in the Church Hall at the same time The addition of a wheelchair-accessible toilet also makes the Community space accessible The funding from Reliance Bank was also used to update the three-bedroom detached bungalow, built in the 1950’s The living room, kitchen, dining area, bathroom and WC have all been modernised for a local family. The bungalow has a private wrap around garden and some off-street parking so that the family can enjoy the outside space
Testimonial
Reverend Donna Williams of All Saints Hampton commented: “When we received the funds, we were elated. And I was quite honestly relieved. The community was waiting for it The Church was waiting for it
There were a lot of expectations, knowing that you can complete a project And you have got all the funding it removes the focus on trying to get funding to delivering on the project And then start planning on how we were going to use it in the Community. We were closer to our dream being realised and our vision being fulfilled. So, it’s excellent when you’ve got the funding to be able to do that.”
Reliance Bank’s funding helped 256 people with their day care needs
Reliance Bank’s funding helped 9 healthcare centres. 9
The Knoll Nursing Home in Yeovil is a warm and inviting Victorian building within substantial grounds. The residential nursing home offers long and short-term nursing care and also day care for adults together with specialist care for the elderly, frail, respite, convalescent and palliative care. All bedrooms are newly furnished and are equipped with electric beds, call bells and televisions.
Reliance Bank’s funding created and renovated 115 (healthcare) bed spaces
Aureum Finance put me in touch with two lenders and one of them was Reliance Bank. So that’s when I was introduced to Morag Davies – Commercial Director for Reliance Bank We did the valuation and Morag gave us the best offer. So that’s when the process began
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050
Manny Ghuman – Owner of The Knoll Nursing Home commented: “Planning permission for a 7-bedroom extension started in 2018 At that time, we did our banking with a high street bank, but we didn’t have a dedicated Relationship Manager. So, I didn’t know who to contact with my business plan and request for a loan. I had been passed around a lot within that bank, so I had low satisfaction with the level of service I was receiving Although I requested funding from that bank, I had no firm answer on whether they would lend us what we needed. I approached two other high street banks, but at the beginning of Covid they were not providing any extra lending. So, I decided to look around for a Commercial Finance broker and the one I found was called Aureum Finance
Manny Ghuman – Owner of The Knoll Nursing Home commented: “The loan from Reliance Bank has helped us to increase our occupancy to 42 residents so we can provide an interactive and holistic approach to care. Many residents lead full and active lives yet welcome the 24 hour a day security of a professional, personalized care environment. The Knoll believes that residents should retain as much of their independence and mobility as possible We tailor our activities to the personal lives and interests of our residents. We encourage residents to engage in creative arts, games and reminiscence therapy including sharing life stories and creating memory boxes. Cinema afternoons, singalongs and arranging visits to local places of interest keep our residents engaged as well as mentally and physically stimulated. Regular themed dining events transform conventional mealtime into an in-house dining experience where residents can dine privately or in the tranquil surroundings of the gardens during the summer months ”
Testimonial
Manny Ghuman – Owner of The Knoll Nursing Home commented: “Morag understood that whilst we were building on the first floor we would have a reduction in income because we couldn’t build on top of ground floor bedrooms which we had to leave unoccupied and that the impact Covid had on the home on increasing registration meant that our financials would show a loss for that period Morag understood the long-term plan and she understood that we could make a profit once the extra bedrooms were built, and residents admitted It was Morag’s knowledge and experience of the building process that meant she was patient throughout the complex program of work Morag had completed many commercial loans before, so she wasn’t fazed when we encountered delays during the building work. The main reason for choosing Reliance Bank was that we wanted support going forward and that has definitely come through with the help of Morag We are now planning to build 5 more bedrooms for residents and have purchased the house next door to the home with the aim to create a care facility”
Reliance Bank’s funding helped reduce poverty for 545 people
Reliance Bank’s funding helped reduce hunger for 2100 people
Reliance Bank’s funding helped reduce poverty for 14 organisations 545 14 2,100
The Hope Centre also provides Breathing Space which is a service that offers a free confidential space for adults and some adults at risk to come and talk to a trained listener about any concerns they may have.
Melton Vineyard is a warm and welcoming Christian church. Their venue is called the Hope Centre which is located right in the heart of Melton Mowbray. Melton and the surrounding area have some of the lowest levels of social mobility in the UK. This means that many of the residents are in low paid employment for much of their life. For that reason, The Hope Centre provides several facilities, some for the specific needs of these low-income individuals and families and some for any residents wanting support, company and friendship. The Hope Centre Storehouse is a foodbank and drop-in centre. The foodbank supports those who have been referred by a local agency such as the Melton Borough Council or Social Services Those with a referral select their own food items from a free shop as well as clothing, bedding, baby equipment and small household appliances The Storehouse Café is open to all, offering free hot drinks and hot meals to visitors There is also a shower for rough sleepers.
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank provided a loan to Melton Vineyard which enabled them to purchase the old chapel and carry-out major modernisation and refurbishment work that was required to provide services to the community.
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050
The Hope Centre Café serves roughly 500 free meals each month And 240 visitors use the Hope Centre for worship and prayer, Breathing Space, Toddler and baby groups, Eve’s (a women’s support group) and meetings and special events each month The Hope Centre Storehouse / foodbank provides 230 weekly shopping bags to people who are struggling financially This is a vital lifeline for those who are most in need, for example, those who are waiting for a benefit payment to arrive or struggling to survive on a very low income
Neal Swettenham – Senior Pastor at Melton Vineyard commented: “Melton Vineyard church was planted in 2006 When we wanted to buy the old chapel as a base for our work in the community, we approached several banks without much success That’s when I was introduced to David Price at Reliance Bank who was very helpful through the process and provided the funding that allowed us to buy the old chapel and modernise it to provide the much needed Hope Centre, from which many local people are supported and cared for We are grateful to Reliance Bank for enabling us to purchase the building and carry out the building works.”
ank’s funding helped ople with community d facilities
Reliance Bank’s funding enabled 21 projects to be undertaken to improve local communities 2,900 21
Two brothers with a rare genetic condition needed to grow-up in a place they could call home David Byford –Owner of Byford Commercial Finance –was approached by a local accountant who had a client looking for funding. The client is a Healthcare Service provider typically providing care in the home for young people and adults with learning difficulties, mental health conditions, physical disabilities and sensory impairments The Provider is regulated by CQC and their service rated overall “Good” with Caring “Outstanding.” The two Directors and their wives have been running this Essex based family business for over 10 years They provided care at the home of one particular family for two young brothers with a very rare genetic condition which required care in the home to support the family. As time had moved on, it had become more and more difficult to provide the necessary care in the home environment The brothers required 24 hours a day, 365 days a year care.
The local authority, who are responsible for the boy’s care, had asked the client to consider purchasing a house that the brothers could live in together and deliver the support required with live-in carers
Although the client was clearly experienced in the Care space they had never delivered their services in a house they also owned.
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050
Whilst David Byford approached a number of high street banks on behalf of the client, including their existing bank, none were comfortable with the “pivot” and change to their operating model given that the client was going to operate out of a property instead of visiting the home of this customer. Knowing that Reliance Bank had a strong appetite for “Social Impact” businesses, David Byford reached out to Reliance Bank and requested a term loan on behalf of the client to support the purchase of a small residential property to house the two brothers and full-time carers.
Both David and the client were delighted with the credit terms proposed and with how quickly they were agreed Whilst the contract from the local authority took a long time to be completed, Reliance Bank stuck by their terms and a very happy client was able to complete within a few months
The brothers are now being cared for in a 3-bed semi-detached property, which required minimal adaptation for them proudly funded by Reliance Bank. The client has been able to provide a safe home for the brothers providing comfort to them and their family.
David Byford – Owner of Byford Commercial Finance Ltd commented:
“I was delighted to be able to work again with Reliance Bank They are always so easy to deal with and look for ways to help wherever possible. I have a very happy introducer, client and family in need so a great result all round”
Reliance Bank’s funding helped 34 people benefit from receiving apprenticeships, training or internships g helped ersonal ment 443 34
re of e of seems idyllic for passing visitors and walkers the young people of Colwall can find themselves living in rural isolation and restricted by location For that reason, about eight years ago, Coco Chu established a Colwall Youth Project (CYP) which from small beginnings has grown into a flourishing independent charity with four full time and several part time youth workers.
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050
In 2020 Reliance Bank provided funding for the purchase of Laboratory cottage to provide a continuous piece of land from the front of the church on the main road to the back of the Silver Street site. Coco Chu are working with other local groups especially the Colwall Youth Project to help develop a vision and strategy that will help support the needs of the community into the future. Finding a development plan to satisfy planners, neighbours and stakeholders has been a challenge but we believe we now have a scheme with which we can move forward which will deliver an attractive welcoming centre at the heart of the village for CYP, the church, and the community.
Whilst Malvern is an affluent area with its independent schools making house prices in the area expensive, Colwall and the surrounding area have a wide demographic profile This means that some of the residents can be in low paid employment for much of their life For that reason, the Colwall Youth Project provides several facilities for the specific needs of the young people who come from low-income families and may have very few resources CYP aims to be a safe haven for young people living in rural isolation Youth work is much more than evening youth groups and fun activities, it’s about allowing those young people who feel abandoned by society, by school, by family; the opportunity to feel cared for and included For those who start accessing the project at age 9, the role of the CYP project is to start a relationship of trust As they grow and become young adults the project has a very different role, it is to teach them the many skills and life lessons they never see inside a classroom. Youth workers teach them about healthy relationships, safe sex, drug misuse, budgeting, cooking, housing, employment contracts, access to transport and the importance of talking about mental health and the value of humanity
Jon – Trustee of Colwall Community Church commented:
“We were introduced to David Price at Reliance Bank who immediately understood the need for funding and the benefit of purchasing Laboratory Cottage that would provide a significant resource to support our future plans. Reliance Bank have a unique knowledge of faith organisations and were keen to support our plans to develop a permanent hub for young people to feel cared for and included ”
Financial Inclusion - Mortgages with a Social Conscience
£60.8M to £63.9M
Our total Residential Mortgage portfolio has grown from £60.8M to £63.9M (on a net basis).
This is an increase of 6 5%
47 Families
In the year 2023 / 2024 (for the period 01/04/2023 to 31/03/2024) we saw new mortgage completions of £9 2M helping 47 families all of which are positive social impact.
Out of these 47 families we supported the following; Shared Ownership Scheme – we helped 17 families with their shared ownership mortgage finance totalling £2m Key Workers – we supported 30 key worker families with their mortgage finance totalling £7.2m
as at 31/03/2024
Shared Ownership
£22 3M Key Worker
£21.8M
First Time Buyer
£5 7M
Non Social Impact
£14M
Total value of Loans £63.8M
by Sector as at 31/03/2024
£12M
£21.8M
£5.7M
Reliance Bank are proud to support those wishing to use the UK Government’s Shared Ownership Scheme.
Our Client’s Scenario
A couple took a Shared Ownership Mortgage with Reliance Bank to buy a flat near Wembley Stadium This case was unusual as one applicant was in full time education, so we considered their unique circumstances to provide them with a mortgage. Applicant One was on a Research Studentship to study full-time at Oxford University Applicant Two was a Senior Associate for a large Consultancy and Accountancy firm.
Solution
Reliance Bank happily agreed to this Shared Ownership Mortgage on a 2-year fixed rate. A Cashback of £850 was payable after completion
Impact
Reliance Bank’s funding enabled 15 projects to be undertaken to improve local communities 21
Reliance Bank’s funding helped 2,050 people with community centres and facilities 2,050
Reliance Bank’s Shared Ownership Mortgage allowed the couple to purchase their first home together whilst ensuring it remained affordable for them, especially while one applicant was studying
Reliance Bank are proud to support key workers
An NHS Doctor who was starting a new role in Norfolk needed a mortgage on a home within easy commuting distance of the hospital where she would soon be working
Reliance Bank’s Key Worker Mortgage provided a good cost saving compared to other mortgages available.
Reliance Bank’s Key Worker Mortgage allowed the Doctor to buy a 2-bedroom end-terraced house near Norfolk This allowed the Doctor to have a sense of permanence whilst providing help to her patients in the hospital.
In 2024, Reliance Bank generated Profit before Tax (PBT) of £1.9m (2023: £0.2m). The strong improvement was driven by continuing growth in the lending portfolio against a background of higher interest rates whilst carefully managing funding costs and administrative expenses.
The Bank continues to grow its profits sustainably and in line with its mission to deliver positive societal outcomes aligned to the mission of The Salvation Army International. The improvement in the profit levels enabled the first gift aid donation to The Salvation Army International since 2019. The mission of The Salvation Army International is to help people whose lives have been affected by emergencies, disasters, poverty and social inequality
The total lending portfolio now stands at £125m, expanding positive social impact with lending to businesses and organisations who meet the Bank’s criteria Commercial new lending in the year grew by £15.2m bringing the total commercial lending book to £61.4m (2023: £57 6m) Mortgages saw new lending of £9 2m, increasing the mortgage book to £63 9m (2023: £60m)
Total deposits increased to £253m, this has been driven by launches of new fixed term and notice accounts.
Our customer’s deposits are used to provide funding to organisations like food banks that reduce hunger for people living in poverty. And our funding is used by community centres that allow young people who feel abandoned by society, by school, by family, the opportunity to feel cared for and included
Choose from:
Fixed Term Deposit or Notice Savings Accounts if you can put the money aside for a period of time
Or Instant Access if you need to access your money
Available to:
Businesses and Charities
Individuals
Service
Online and telephone Banking facilities
UK Customer Service Team
Make deposits via any NatWest branch
Reliance Bank has been at the forefront of socially responsible banking since 1890 when we were formed as the bank for The Salvation Army
The power to change lives for the better
As a Bank, we’ve supported businesses and charities for over 134 years and we prioritise business lending to organisations that deliver positive social impact in the UK, so you’ll be joining a group of like-minded people.