Unity Trust Bank lends over £1bn in 2023 allocating almost three quarters of new lending in Yorkshire to deprived areas

By only using customer deposits to lend to organisations that deliver quantifiable impact in local communities, Unity’s lending in 2023 helped to support 1,458 care home spaces: 572 day care and education spaces and 7,143 jobs.

It also provided affordable homes for 1,225 households and 452 properties benefited from retrofitting activities.

Almost three quarters of Unity’s financing in the Yorkshire region went into areas of high deprivation, including a seven-figure loan for Ariya Neuro, a care provider for people with an acquired brain injury.

It also provided six-figure funding for longstanding customer Canopy Housing in Leeds to develop energy efficient housing for people at risk of homelessness.

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Colin Fyfe, chief executive of Unity Trust Bank, said: “Surpassing £1bn in lending for the first time is testament to the principles that Unity was founded on 40 years ago – that a bank can deliver social purpose as well as sustainable commercial returns.

“Our 2023 objectives were achieved against a backdrop of turbulent economic conditions, and supporting our customers continues to be at the core of our strategy.”

He added: “The higher bank rate environment, alongside balance sheet growth, increased financial returns for Unity in 2023 and enabled us to continue to advance our purpose and our investment in customer services.”