Charity Finance Directors Group announces new Charity Banking Forum

23rd February 2010

The Charity Finance Directors’ Group (CFDG) has announced plans to set up a Charity Banking Forum.

The Forum will provide space for a twice yearly dialogue between CFDG members and representatives from the banking industry which, in addition to discussing a range of issues of mutual interest and concern to both sectors, may develop joint projects for the benefit of the sector.

The move to set up the new body came out of a meeting held yesterday, hosted by CFDG, which brought together a selection of CFDG members, a range of banks, representatives from the Payments Council, the Charity Commission, the Treasury and the Office of the Third Sector, to look at the implications for charities of the phasing out of cheques.

Roger Chester, CFDG Deputy Chair, chaired the meeting. He said: “As Finance Directors, our members are responsible for processing both incoming and outgoing payments, so we see both sides. Our discussion allowed charities to outline their specific concerns related to beneficiary payments, appeal responses, local membership groups and small charities. In addition to looking at new initiatives that may address some of the barriers, we also identified some gaps that need addressing such as accounting and banking software, and training for the charity sector and for frontline bank staff on charity banking needs. The Charity Banking Forum will take such matters forward.”

The report of the meeting will be accessible on CFDG’s website (www.cfdg.org.uk) from next week.

- Ends -

Notes to Editors:

The Charity Finance Directors' Group was set up in 1987 and is an umbrella group that specialises in helping charities to manage their finance-related functions.

CFDG’s circa 1,625 members are responsible for the finances of charities with a wide variety of income levels. Between them our members manage some £17 billion in charity income per year. For further information please contact our Policy Team on tel: 020 7785 6426 or email: policy@cfdg.org.uk.

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