by Trevor Sturgess

Falling charitable donations are making it hard for local good causes to carry out their vital work. Now a Kent bank is urging residents to lend a helping hand by creating a £1million investment fund through saving in a Kent Community Bond.

The bond is available from Charity Bank, a registered charity and regulated bank which uses savers' funds solely to support charities.

Investors earn one per cent gross interest on investments up to £25,000 over three years. Investments over £25,000 earn three-year rates of up to 2.5 per cent. One-year rates are lower.

Money raised by the bond will provide loan finance to charities, social enterprises and other community organisations across the county.

Malcolm Hayday, chief executive of the Tonbridge-based bank, said: "The faltering economy has hit charities hard. Donations have fallen; while at the same time demands on charities' services have increased. With the help of its depositors, Charity Bank has a key role to play in providing vital funds to these organisations.

"The Kent Community Bond enables people and organisations to support charity without giving their money away, by depositing with us. Through them, we can help Kent charities and the people they were set up to support not just survive, but thrive."

Folkestone Sports Centre Trust is one of more than 720 charities to have loan finance agreed by Charity Bank. The money was needed for an urgently-needed building facelift.

Charity Bank depositor Anthony Gill from Frittenden, said: "The attraction of saving with Charity Bank is that I know the funds are being put to good use whilst earning me a financial return. The new Bond is a great way for people in Kent to support charitable work in the region without having to give their money away."

Charity Bank is part of the Charities Aid Foundation (CAF) based in Kings Hill, West Malling. With assets of more than £60m, it has committed more than £110m to community projects. More details at www.charitybank.org/kent