Rollits donate unclaimed balances to Charity Bank and other local charities
Rollits has recently donated the money from its legacybank account of unclaimed client balances to four charities, one ofwhich was Charity Bank. The gift will be used to help Charity Bankprovide greater financial support to more charities, socialenterprises and local organisations in the UK.
Charity Bank is the only regulated bank in the UK that isalso a registered charity. It lends to charities, socialenterprises and community organisations, including those that wouldfind it difficult to secure funding from traditional bankingsector. It invests 100% of its depositors` money in supportingcharities and enterprises that benefit society and publishesdetails of every loan it makes.
Donald Robertson, Director of Finance at Rollits said "Inline with the Solicitors Regulations Authority`s (SRA) regulations,we wanted to clear our backlog of unclaimed client balances. Afterconducting due diligence, we contacted as many of the formerclients as possible and returned any claimed funds, we were givengo-ahead by the SRA to donate the remainder of the balances tocharity. We collated the leftover funds and donated them to fourdifferent charities, one of which was Charity Bank. Both Rollitsand Charity Bank hope that Rollits` donation will encourage otherlaw firms to use unclaimed client balance funds in a similarway".
"Unclaimed balances are common in our profession and canaccumulate over the years. We were pleased to clear the backlog ofunclaimed funds in such a positive way and wanted to donate thefunds to charities that were making a tangible impact," saidRollits managing partner, Richard Field. "Charity Bank`s mission totransform saving into an ethical action that supports othercharities and community organisations definitely met thiscriteria."
"We want to thank Rollits for its generous donation," saidMalcolm Hayday, Charity Bank. "Gifts like these contribute toCharity Bank`s mission to facilitate social change and I hope thatRollits` gift will inspire other law firms to follow suit bydonating unclaimed balances to support their localcommunities."
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