Robert Owen Community Banking support communities across Wales by providing finance. They are a not-for-profit organization that secures local investment and public funds to provide loans for businesses, homes and community initiatives.
They are based in Newtown, Powys, the birthplace of 19th Century social reformer Robert Owen, who fathered the Cooperative Movement. Like their namesake, Robert Owen Community Banking believe that by supporting basic principles of fairness, accountability and cooperation, we can help build a more mutually prosperous society.
Jackie Milton, Head of Operations at the company chatted to Business News Wales about ethical finance:
Jackie describes the approach of Robert Owen as “the total opposite of Computer Says No!”
“It’s about people, their ideas, these might initially not be investment ready. We work with people to get those projects to a place where we can provide loan finance.”
The objectives of Robert Owen Community Banking Fund are:
- To invest in the development of businesses and new startup ventures in order to sustain the local economy.
- To invest in making Welsh homes safe, warm, secure and low in carbon.
- To assist communities to develop successful community energy schemes, that can reinvest income or savings to help other community projects.
- To ensure that money earned in Wales works hard to support the sustainable development goals that have been set by the Welsh Government.
Robert Owen Community Banking provide ethical investment opportunities for businesses, charities and local authorities.
They also believe that Community energy has great potential to boost the sustainability of communities in Wales. But how?
Jackie said:
“Our energy is commodity and to be able to bring that to our community and give them access to it is important. To be able to give that energy back to people with surplus going back to the community is an amazing opportunity.”
Robert Owen’s Community Energy Fund was developed in conjunction with Big Lottery and Community Energy Wales to provide the financial support required to advance community energy projects from initial feasibility through to installation.
Robert Owen have set out to prove that community energy has great potential to boost the sustainability of communities in Wales.
