Charities continually have to find extra funding

Charity Bank provides cheap loans to charities which do not have access to mainstream lending facilities.

Money deposited with the organisation - the first general charity to be authorised as a bank - will only be used to fund social enterprises in communities.

Now the bank is using a Llandudno charities event to showcase its potential benefits in the region.

Sources

The Wales Council for Voluntary Action (WCVA) is hosting the first in a series of workshops designed to help charities find funding sources after their Lotto grants dry up.

Now is the time for organisations to review their activities and look at options for financial sustainability Sandra Rosswell, WCVA

Meanwhile, the Lotto-funded New Opportunities Fund, which has used �14m to create 22,000 childcare places in Wales, has been wound up after three years.

And economic turbulence has made many charities nervous over cash.

"Lottery proceeds are declining and European funding is moving east," said WCVA's Sandra Rosswell.

"Now is the time for organisations to review their activities and look at options for financial sustainability."

Profits

At the meeting to find new sources, Charity Bank chief executive Malcolm Hayday is expected to set up his organisation - launched by the Chancellor in October 2002 - as a main alternative.

The bank, which does not compete with high street names, promises investors a modest financial return through an optional 2% interest rate, but a big social reward - every penny in surplus is given to charities.

Research conducted for the bank in 2002 showed people living in Wales have an average of nearly �3,700 in their savings.

It also showed 26% of people in Wales feel guilty that they are not doing enough for good causes.