We are pleased to announce two new social impact investments designed to increase financial security and strengthen sustainable housing in communities across Scotland.
Moneyline will receive a loan of £800,000 blended with grant funding of £132,000 to expand access to affordable short-term, small loans for low-income households unable to access mainstream financial services. The funding will also support financial wellbeing services through Moneyline’s award-winning Money Toolkit platform. Moneyline Thistle is a new route to increase affordable credit in Scotland.
In addition, Ecology Building Society has secured investment through the purchase of £2.4 million in Core Capital Deferred Shares, alongside other institutional investors. This will boost lending for sustainable, low-carbon homes including self-build and community-led housing projects in remote and rural Scotland where Ecology Building Society has a significant footprint.
These two investments sit within Phase 1 of our Social Impact Investment (SII) Plan. Phase 2 will begin over the summer, with a main focus on how SII could be a catalyst to increase high-quality social housing embedded in place-based approaches to poverty and trauma.
Our Chief Executive, Jim McCormick, said: “After an in-depth phase of seeking opportunities aligned to our mission, we are excited to announce these two new social impact investments. They reflect our commitment to using a wider range of tools to tackle poverty and trauma, and to strengthen communities across Scotland.
“Our investment in Moneyline builds on learning from earlier work we supported through Programme Awards on Financial Security, including Aberlour’s Tayside Family Financial Wellbeing Project and Trussell’s Pathways to Advice and Cash. Those projects showed that rapid support during a financial crisis can offer a crucial lifeline, helping people move towards greater long-term financial resilience.
“Alongside this, Ecology Building Society’s work highlights the important link between access to sustainable housing for communities especially in remote and rural Scotland. It is strongly aligned to the Funder Commitment on Climate Change.
“Social impact investment allows us to support organisations in different, more flexible ways alongside our grant funding, helping strong organisations grow their impact and reach more people over the long term. We are looking forward to working with both Moneyline and Ecology Building Society as these investments develop.”
Shiona Crichton, Chief Executive of Moneyline said “Moneyline’s mission is to reduce financial exclusion and increase financial resilience of the lowest income households in the UK. As a community lender, we are committed to providing tailored products and services that fit the needs of Scottish customers.
"Working with like-minded partners like The Roberston Trust is critical to meeting our mission and we are looking forward to seeing what change we can make together.”
Gareth Griffiths, Chief Executive Officer at Ecology Building Society, said: "Ecology's vision is to create a fair society in a sustainable world. This investment by The Robertson Trust allows us to take further steps in making that vision a reality, with every £1m raised through CCDS allowing us to fund £22m of impact-led lending.
"That means we can support the realisation of more affordable housing, more security and stability for people, and more positive projects for communities that strengthen local connections, wellbeing, and social justice. I'm delighted that The Robertson Trust has chosen to invest in this important mission.”
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