A bank that supports organisations with a 'positive social impact' across the UK has revealed that 43 per cent of loans in the North East in 2024 went 'o "sustainable and affordable housing'.

Unity Trust Bank, which is known for lending to businesses and organisations that act on social concerns, has published the details of its annual results for 2024.

The bank showed that it has continued the year with an overall lending of more than £1 billion, whilst committing 50.5 per cent of this to areas with high levels of deprivation.

The bank also revealed that customer balances have increased by 10 per cent from 2023, to a record £1.7 billion, as more socially conscious organisations choose to deposit with Unity.

Martin Tighe, North and Scotland regional director at Unity Trust Bank, said: "As an ethical bank, we are committed to a ‘double bottom line’ of delivering positive social impact alongside commercial success.

"In 2024 we achieved a record year of funding, helping to support the vital work of socially-driven organisations that share our values and those key sectors making a real difference to communities across the UK.

"As we continue to enable greater access to responsible finance, we are proud to help amplify positive social impact across the North East."

Unity's work in the North East has been particularly impactful, with 27 per cent of the bank's regional funding classified as 'C - Contribute to Solutions' under the 'ABCs of Enterprise Impact' system.

This means the funding was directed towards initiatives aimed at improving specific social or environmental outcomes.

The bank's commitment to sustainable and affordable housing was also evident in its support of the United Nations’ Sustainable Development Goals (SDGs).

Of Unity’s total funding commitment in the North East, 42.8 per cent was dedicated to supporting the UN SDG 11 - ‘Sustainable Cities and Communities.’

In line with its commitment to socially responsible banking, Unity aims to achieve net zero by 2045, as part of its ‘Banking on Sustainability’ initiative.

After launching its Retrofit Transition Initiative (RTI) in 2023, which earmarked funds for housing association customers to decarbonise their properties, Unity doubled its lending commitment to £50 million in 2024.

The RTI initiative supported decarbonisation work on 931 homes through retrofitting activities.

Unity Trust Bank’s CEO, Colin Fyfe, said: "As we reflect on another year of success, we’re proud to continue our 40-year heritage of delivering social good for communities and individuals most in need.

"The commitment to our founding mission is just as strong today and we look forward to driving forward future growth and positive impact through socially-responsible banking."

As part of Unity’s 40th birthday year, the bank exceeded its pledge to make £40,000 in charitable donations by allocating over £50,500 to good causes across the UK.

Read more: 

It launched the Unity Impact Grant programme, designed to support community-enhancing projects.

In December, six successful recipients were awarded £5,000 each, including a ‘staff choice’ grant from Unity’s voluntary salary contribution for organisations delivering impact.

Unity Trust Bank remains committed to delivering positive outcomes for employees, communities and the planet, as part of its employee-led ‘Unity & Me’ programme.