A recent survey commissioned by Dublin City University (DCU) with responses from almost 200 social enterprises across Ireland published its findings in late 2021. Our CEO Donal Traynor reflects on the findings in the next installment of our Leadership Insights Blog Series.Continue reading “Social Finance: Utilised by 50% of Social Economy surveyed”
Community Finance Ireland makes £340,000 available to water and mountain rescue schemes in Northern Ireland
Community Finance Ireland has provided North West Mountain Rescue Team with £150,000 funding, allowing them to upgrade their fleet of hi-spec rescue vehicles this autumn. Along with £191,000 for Lough Neagh Rescue, this takes the total amount of funding provided to rescue schemes in Northern Ireland by Community Finance Ireland in 2022, to £340,000.
North West Mountain Rescue Team was established in Derry City in 1980 to provide a search and rescue service for the North West. The operational area has now extended to the geographical boundaries of Northern Ireland with the exception of the Mourne Mountains which is covered by Ireland’s oldest and one of its busiest teams, the Mourne Mountain Rescue Team. In addition, because they are members of Mountain Rescue Ireland (MRI), they can provide support where needed to any of the ten other Mountain Rescue Teams on the island of Ireland.
Phelim Sharvin, Head of Community Finance Ireland Northern Ireland, said:
“Community Services like the North West Mountain Rescue Team are often at their busiest during the summer months. As we make the most of the longer days by taking to the waters or to the mountains, unfortunately the unexpected can happen. Now North Mountain Rescue Team is better equipped to respond swiftly and safely to emergency calls.
“The recent social finance provision in Northern Ireland builds on our previous success with rescue schemes in the Republic of Ireland; South Eastern Mountain Rescue in Co. Tipperary and Glen of Imaal Mountain Rescue Team in Co. Wicklow, both of whom we have worked with since 2016. It brings our total investment in Rescue Schemes on the island of Ireland to £0.83m.”
Treasurer at North West Mountain Rescue, Andrew Kelly, said:
“North West Mountain Rescue Team gained charitable status in 2014. We provide a year-round, 24 hour call-out service at the request of the Police Service of Northern Ireland (PSNI) and to minimise response times, the team is organised into three Sections based in Enniskillen, Magherafelt and Ballymena covering the West, Central and Eastern Sections respectively. All rescue is carried out by our volunteers, who are expected to respond in all weather conditions, requiring enormous commitment from team members.
“Through this funding the team has been able to purchase a Ford Transit and Toyota Hilux. These vehicles are highly customised to perform their chosen roles, namely: patient extraction and command and control. We are delighted with the support from the team at Community Finance Ireland who recognised the value of our work and supported out application.”
For information on how social finance could support your organisation, visit https://communityfinanceireland.com/
Fundraising is one of the key income sources for GAA clubs. Unlike most mainstream lenders, Community Finance Ireland takes fundraising and projected fundraising into account when considering applications for finance for GAA projects.
Our recent #Supporting Clubs On and Off the Pitch Webinars hosted by Aisling O’Reilly Off the Ball Sports Journalist and featuring some of the best GAA clubs in our communities, offered some really insightful and diverse ways that GAA clubs and volunteers are engaged in helping finance the ambition of their clubs and players.
Here are some of the innovative and most popular fundraising initiatives that are being delivered right across the island of Ireland. You may already have tried these in your club, or you may not but as everybody knows all ideas for financing and keeping the club open and vibrant are always welcome.
1. Club Lotto
Club Lotto remains a big earner for GAA clubs. When Covid struck, volunteers weren’t able to go door to door to sell tickets anymore and a number of clubs moved their lotto activity to online. As one of our clients Jim Codd from Ballyhea GAA in Munster told us, at times the Club Lotto can account for up to 30% of our income.
2. Coffee Mornings and Bake Sales
Who doesn’t love a delicious treat? Host a coffee morning and invite the local community to come along. From Rice Krispie squares and millionaire’s shortcake to cupcakes and brownies, everyone can bring along their baked goods to sell, with the profits going into the club’s coffers.
3. Fundraising Walks
During the pandemic, the activity that saw the biggest rise in participation was walking. As a result clients like Knockananna GAA (Co. Wicklow) and Kilcoo GAA (Co. Down) invested in off pitch facilities such as floodlit walkways. Our own Client Relationship Manager for Munster Nora Keogh said that sponsored fundraising walks are a great source of income for GAA clubs as well as great family events:
“My daughter’s football club in West Limerick has the sponsored walk back again this year. The kids are delighted to go out and get €2 off each of their relatives for taking part. It’s only a small amount but it all adds up. It’s great to see and it’s a great family event on the day.”- Nora Keogh, Community Finance Ireland.
4. Golf Classics
The GAA continue to use other sports outside the realm of Gaelic Games to assist with raising funds for their club. One example that our client Jim Codd at Ballyhea GAA referenced was that of a recent Golf Classic, where a combination of players or volunteers created golf teams to compete against each other with all funds raised going back into the club.
5. Strictly Come Dancing Competitions
Add some sequins and sparkle to your fundraising activity with a Strictly Come Dancing style competition. Pair your GAA players with local community volunteers and sell tickets for a weekly dance off to see who knows their sliotar from their salsa.
6. The 300 Club
After meeting with Community Finance Ireland and setting specific and realistic fundraising targets, Freddie McInerney from Newmarket-On-Fergus GAA Club in Co. Clare explains how they set up a 300 Club:
“We created a 300 club. We got almost 300 people to sign up over a four year period in which we asked for a donation of €5 per week, €250 a year or a quarterly or sign up on direct debit. People were very generous with some offering €1,000 upfront. We created a team of eight people dedicated solely to this fundraising activity. There were two lads in particular – Thomas Reagan and Darren Dugan who went out and collected probably the bones of €100,000 themselves, talking to people, ringing people, cajoling people and getting them to bring money in. So, in the end we got an awful lot of people signed up.”- Freddie McInerney, Newmarket-On-Fergus GAA.
7. Family Fun Days
With many GAA clubs now the hub of most communities the ability to offer family fun days for their members and their wider community is now a reality. Bouncy castles, Mr Whippy vans, face-painting, arts and crafts and fun and games are almost as likely to be found as the footballs or hurls.
8. Car Boot Sale
It’s an oldie but a goodie, but with us all trying to repurpose or resell rather than put items in landfill the car boot sale is a fantastic way to raise funds as well as reduce waste.
9. Table Quiz
Hosting a table quiz is a simple but effective way to bring in some extra cash and a great way to add some entertainment to the line up at the club house bar. A simple eight round event can be used to test your membership’s knowledge on a variety of subject. Maybe even include a specialist round about your club’s history.
10. Scrap Metal Collections
Scrap metal is valuable in high quantities and rural clubs have been jumping on the opportunity for years. It’s easy to raise money by asking farmers and people in your village for their unwanted scrap metal at a collection point so it can then be sold on. It doesn’t cost the community anything and in fact you’re providing a service that they would otherwise have to pay for.
“When we started fundraising initially, we wanted to find things that are a negative cost to people, so we ran a scrap collection, initially that can bring anything from €2,000 to €10,000 depending on when you are running it and how much people have in their backyards that they want to get rid of.”- Jim Codd, Ballyhea GAA.
Our thanks to all the club members or volunteers who participated in our webinar series this summer and for sharing their insights and experience. If you missed these webinars, don’t worry- you can play them back here. In the meantime we speak finance, but we hear people. Click here and the local client to reach out to the local Client Relationship Manager in your area.
#Supporting Clubs On and Off the Pitch.
Today (16 June 2022) Ulster Community Investment Trust Ltd t/a Community Finance Ireland held its all island AGM in person for the first time in three years. As part of the AGM the team officially launched its 2021 Annual Report.
The report published today highlights the following key takeaways:
- £2m of loans into 14 local projects;
- £7.2m to 354 charities via much needed grant payments in collaboration with Department of Communities NI and NICVA; and
- £4.4m to 152 SME clients through the management of NISBLF Fund II since 2018.
Republic of Ireland
- €2.2m of loans into 26 projects in the Leinster Region;
- €1.2m of loans into 15 projects in the Munster Region;
- €0.1m of loans into 4 projects in the Connacht Region; and
- €1m of loan approvals into 17 projects in Ulster (excluding NI).
With a client portfolio, whose core assets are predominately its volunteers, the 76 projects saw their own belief mirrored back to them and secured term or bridging loans which supported them in:
- Keeping their doors open;
- Pivoting their business;
- Ensuring their viability when their services were needed more than ever; and
- Ensuring their sustainability as the island transitions to a new normal.
In what was another extraordinary year for the history the organisation and for the communities and citizens on the island of Ireland Donal Traynor Group Chief Executive said the following:
“Our team continue to ensure social impact is felt not just dreamt and 2021 was no different. Dreams were realised and progress was felt right across the island. Choose change is indeed the mantra of the sector and the volunteers who keep it vibrant. We are delighted to be part of that change, whilst recognising there is always more to do.”.Donal Traynor, Group Chief Executive Community Finance Ireland
View the report in full here.
Social finance is a unique form of funding. It helps communities and social enterprises make progress and build sustainable services whilst creating that elusive “social impact” footprint.
It can help projects move to the next exciting stage and many of our clients have done so by accessing both flexible term and bridging loans.
Here at Community Finance Ireland, our team have 21 years experience working with sports clubs (Kilcoo GAC, Co. Down), health/social care services (Foyle Women’s Aid. Co Derry), community halls (Billy’s Tea Rooms Co. Kilkenny) and digital hubs (Sneem Co. Kerry); all of whom have found that social finance enabled them to achieve social impact in their local communities.
A social enterprise, charity or community-led organisation may find themselves looking at their finance needs when assessing a project. While grants can play a role in supporting their objectives, there are those in the sector who also understand that a loan can be part of the solution and help build that new sports facility, re-roof the church, support additional employment or build office facilities in a remote village.
If your organisation is considering a new project, restructuring its finances or has an idea that will drive social impact then here are the Top 5 Tips that will make it easy for you to apply for a social finance loan:
Top 5 Tips for Success:
- Tell us about yourself
Share what issues you are seeking to address, the facilities you wish to develop or the opportunity you see in your local communities.
- Confirm Eligible Legal Status
Ensure appropriate governing documents are in place and the applicant organisation has the appropriate power to borrow. Outline the details of those responsible including the list of Directors and/or Trustee
- Management Team
Highlight the positive attributes of the people behind the project, including: Commitment to improving their community, Track Record, Professional Experience and Skills. Also, evidence clear communications and insights along with sound financial management skills.
- Financial Performance
Financial stability is a key way to show your organisation will be able to repay a loan. Alongside financial stability, factor in the social and environmental impact too. Your ability to repay is assessed by looking at past, present and future finances. These typically include:
- Access to previous projects results.
- A review of past audited accounts.
- Assess relative trends and fundraising capacity.
- Recent management accounts, loans held, bank statements and debtors/creditors listings.
- Future financial projections.
- Demonstrate Social Impact
Our Clients Choose Us, as We Offer:
At Community Finance Ireland, We Speak Finance. But We Hear People.
In summary, social finance continues to grow in popularity as a route to helping change-makers deliver the change they want to see and be part of. Whatever you see and whatever it is that you dream of we are waiting to hear from you.
Get in touch here: https://communityfinanceireland.com/contact/
As an all-island brand, with a growing team, our colleagues live and work in Down, Antrim, Meath, Donegal, Waterford, Limerick, Cavan, and Louth. Whilst they also have the option to work at our dedicated office spaces located in Ardee, Co. Louth or in Belfast City Centre.
In light of both the NI and RoI governments’ decision to relax Covid restrictions our team are now working “the new norm”.
With Northern Ireland’s growing confidence in an office versus home working environment and the Republic of Ireland creating a Bill to pass legislation protecting employees working from home (The Right to Request Remote Work Bill 2021) the traditional five days a week, office based working model is now clearly in transition.
Our team at CFI, have technically spent the best part of the last two years working from home (often at the kitchen table or in some cases a bedroom) and as we settle into our new norm, we asked our people what were the pros and cons they learnt from their experience and how will this experience support them in their day-to-day delivery of social finance solutions to grassroots community clients and projects.
Here’s what they had to say:
“With my home base at Strangford Lough, a hybrid working model allows me to maximise my use of time effectively as I can block out days for new client meetings and when at home, focus on administrative aspects.”
Phelim Sharvin, Head of Community Finance N.I
“Hybrid working is great and allows all colleagues to work where most comfortable. For me, being in the office is important for setting my own boundaries between work and home-life.”
Peter Smyth , Client Relationship Manager N.I
“Working from home has really helped me flourish in my career. I thrive on quiet time where I can focus on strategic papers or analytics and have found zoom meetings suit my working style.”
Nicky McElhatton, Marketing and Social Media Executive
“I joined CFI during the pandemic. My role is Front of House and I really enjoy the office environment. With a newly designed office space in Belfast, I can continue to work safely alongside others.”
Nick Heath, Front Office Administrator
“Having a blend of working-from-home and the office breaks up the week. With a flexible working schedule, this has really helped give me an improved work-life balance.”
Stephanie Nicholl, Compliance Officer
“Working-from-home is something I have gotten used to. Although, I do miss the aspect of being in the company of my colleagues as work relationships are not always the same behind a screen.”
Sandra Cowan, Finance Officer
“My week is usually now 70% office based with 30% working-from-home. I have adapted well to this new rhythm and have also found that as a Manager of a team, the trust with my people has improved greatly.”
Barry Connolly, Group Chief Financial Officer
“The ability to work remotely has given me the chance to spend more time at home. With less distractions, my time spent working is more productive and I have my cats for company, all day.”
Emma Thompson, Finance Executive
“A blended approach allowed me to meet colleagues whom I would not of come into contact with as much whilst working remotely. I am able to create relationships were I can reach out to colleagues from different departments which is hugely beneficial as I start my career.“
Jack Lennon, Marketing Intern
“Hybrid working works excellently for me with a team based all over the country. It offers me the ability to work wherever I might be needed, for both my team and my clients. As long as my phone and laptop charger are optimized, I find the flexibility of different working locations can ensure I can be where I am needed at all times.”
Emmett O’Hara, Head of Community Finance RoI
“My role finds me on the road quite a bit, meeting clients. This regular travelling is balanced by my ability to work from my home on days where I am liasing with other team members and assisting clients from a remote location.”
Anne Graham, Client Relationship Manager Donegal and Connacht
“My role has always been remote and as such, the hybrid working model has little impact on that working style. But what has been welcome, is that many of my colleagues now also have the same working pattern.”
Barry Symes, Client Relationship Manager South East Leinster and Waterford
“I joined Community Finance Ireland just over six months ago and have found zoom meetings invaluable in helping me connect with my new work colleagues.”
Nora Keogh, Client Relationship Manager Munster
“Working from the office is a key benefit to me that helps with my part-time hours and the logistics of family life. Office based work continues to be my personal choice but it’s great to have the ability to work from my kitchen on occasion.”
Terri Martin, Office Manager and Micro-Finance Lead RoI
“Working remotely has never been a barrier to my ability to deliver great work or to engage my colleagues or agency partners on key projects. I have found that meeting in person is always welcome but that with excellent IT support working from home offers a flexibility that really suits my way of working. This new norm has shifted me from a ‘work – life balance’ view to a ‘life –work balance’ view and I love it.“
Lita Notte, Head of Marketing and Communications
“A hybrid structure has worked well for me. With the flexible option of remote work or going to the office I have a genuine sense of work-life balance. Time not spent commuting has been redirected to time spent in my local community.”
Pauline Carolan, Office Administrator
“A hybrid working system has been great for everyone here at CFI. With a small team, it allows us to grow resources in all regions of the island and connect with all communities. We swiftly introduced technology and IT supports to help our people and give them the tools they needed to continue to liaise with clients and each other. For me personally, it is great to have a balance with a new Belfast office acting as a hub in more recent months.”
Donal Traynor, CEO Community Finance Ireland
In summary, much like the uniqueness of our people, hybrid working offers different things for everyone. But in essence flexible working practices (either office or home) is successful and our team are very much “fans” of the new norm.
Last week Donal Traynor our CEO was on hand to help ‘Dress for Success’ expand its reach in Northern Ireland.
As the leading global non-profit employment resource for women our team were on hand to celebrate the initiatives expansion in Northern Ireland, with the opening of a second branch, situated at the Glengall Exchange, in Belfast City Centre, under a new tenancy from Community Finance Ireland.
Dress for Success Northern Ireland is managed by Foyle Women’s Aid and to date has supported over 200 women through its first branch which opened in 2018 in Ashleywood House, Derry/Londonderry.
This is the only affiliate of the global Dress for Success brand operating in the island of Ireland, there are more than 140 affiliates operating in 20+ countries across the globe and marks an important achievement in the organisation’s growth and reach in Northern Ireland.
Dress for Success empowers women into the workplace from positions of disadvantage by providing professional clothing and styling, skills and confidence, interview coaching and ongoing support once they re-join the workplace.
“As an equal opportunities company, as well as a registered social enterprise and charity ourselves, our team is delighted to support Dress for Success and aid their ambitions to help women going back to work.
We feel privileged to be able to host the Dress for Success Northern Ireland team, as well as its future service users at our premises, and wish them every success in this new chapter of their history.”Donal Traynor, Group Chief Executive Officer (Community Finance Ireland)
To find out more about Dress for Success or to refer to its services please contact Sarah Quinn, Programme Manager, 0771 963 681 or email firstname.lastname@example.org.
Today CFI’s impact was in evidence as Nora Keogh Client Relationship Manager for the Munster region, provided support to social enterprise Recruit Refugees Ireland based in Cork.
Nora had this to say:
“We are delighted to help support Recruit Refugees Ireland and its ambitions to break down barriers to meaningful employment for refugees – the work they do really is delivering impact in the Cork region”Nora Keogh, Client Relationship Manager (Community Finance Ireland)
CEO Roos Demol outlined to Nora how her team are committed to an inclusive and diverse Ireland and in supporting career aspirations for those who are now living in Ireland.
Community Finance Ireland delivers social finance solutions that support local communities and drive social impact through sports, community projects, faith-based groups, and social enterprises.
Community Finance Ireland was established in 1995, and now supports a diverse portfolio of clients across the island of Ireland from Bantry to Belfast, and from Dublin to Dingle.
Currently, Community Finance Ireland is the only Irish and UK member of FEBEA, the European Federation of Ethical and Alternative Banks.
Our all island team are very aware that every small step can help the enormous challenges that climate change and sustainable choices can make to our everyday lives and the planet at large.
We moved “house” in 2021 and had almost 15 years of paperwork stored in boxes that needed to find a home too. Step up Shred Bank, who shredded those old files, helped recycle it and helped us save five trees.
Our client Western Forestry Co- Operative, based in Sligo town have often told us that “trees are the lungs of the earth” and their passionate CEO Marina Conway is a key change-maker herself in the preservation and love of trees.
Marina featured in one of our first Change-maker podcasts and you can hear her views on sustainable forestry here:
Social Impact is in all our hands.
This time last year we all had hopes that the Pandemic would be done and dusted. We are all aware this didn’t happen and, as we close off another year we will continue to live with its effects for a while yet.
Whilst we acknowledge Covid continued to affect us during the past 12 months, we can confidently say that we supported both our clients and key stakeholders to achieve progress and ensured that, whilst we were often asked to stay apart, we came together in ways that helped our clients deliver health, happiness and hope.
- We took the opportunity to grow our local footprint and welcomed new team members Emmett, Anne, Pauline, Nora, Nick, Stephanie and Jack.
- In Belfast our new head office was finally able to open its doors and support our new norm that is a hybrid working model.
- We helped deploy £7.1m to 354 charities on behalf of Department for Communities via the Covid- 19 Charities Grant Fund.
- We collaborated with Conor McGale at Rural Community Network and Larry O’Neill CEO Dublin South Co Partnership on the launch of our All Island Recovery Loan
- We collaborated with Joanne O ‘Riordan of The Irish Times, Brendan Boyce Olympian Athlete and Patsy McGonigle of Finn Valley AC on the launch of our All Island Sports Fund
- We continued to work with key stakeholders such as Invest NI, Enterprise NI and Department for Communities in Northern Ireland, as well as Social Finance Foundation, Rethink Ireland and DCU in the Republic.
- We listened to and worked with 91 enquiries.
- We welcomed an additional 62% increase in followers across our social media channels
All of the above are indications that despite hurdles the sector continues to seek support, insights and social finance.
Donal Traynor, Group Chief Executive, said the following:
“Whilst the Pandemic continues to challenge all communities we have seen greater solidarity across the whole island of Ireland. Clients are responding with innovative fundraising initiatives as-well as migrating to an online service (an investment we ourselves undertook in 2020) to help make the provision of services easier and sustainable.
The sector itself is not immune to trends. We expect to see hybrid events and campaigns plus sustainable, remote working facilities, as well as questions around how we play our part in supporting climate change targets.
All of the above offer the opportunity for us to continue to work with clients who want to ensure social impact is felt not just dreamt – we are here listening all the time and committed to finding solutions that support that ethos”.Donal Traynor, Group Chief Executive