jonathan mcalpin director of operations ulster community investment trust leading change investment...
TRANSCRIPT
Jonathan McAlpin Director of Operations
Ulster Community Investment Trust
Leading Change
Investment | jobs | Growth
“Making Mutual Money Focused”
Two key words:
•Mutual –what do we mean?
•Focused – on what?
Mutual
• Relationship• Reciprocal• Together• Support • Understanding
Co-operation
Who or What is UCIT?• An IPS (member owned co-op and mutual model), a Charity and a Social
Enterprise
• Ulster Community Investment Trust (UCIT) established in 1995 as the first social investment fund in Ireland
• An innovative social investment fund that would help stimulate economic growth and job opportunities in areas of deprivation and high unemployment
• Secured funding from LEDU (Invest NI), IFI and Atlantic Philanthropies and commenced operations in 2001
• Subsequently secured additional investment from DARD and DSD
• Our aim is to work with those in the margins of society, where traditional banks are less comfortable to operate.
Social EnterprisesUCIT
Input
Investment
(c£9m)
Value to the SE Sector
>£30m to date
and rising
loans
repayments
UCIT – Key Statistics
Since 2001:
• Initial Capital Investment (Public Sector) of £12 million
• In excess of £30 million invested into community “owned” infrastructure
• Over 240 social enterprises assisted
• Estimated direct employment of approx. 2,000+
• Estimated indirect employment of approx. 6,000+
Sectoral Profile of UCIT Investments
“Making Mutual Money Focused”
Focused• We are focused on what makes us different:
• “More Than Profit”
• Non-distribution model
• We are focused on Mission:
“To develop and provide competitive, flexible and tailored lending, investment and business support throughout the island of Ireland and beyond”.
Opportunities
The power of mutuality: •Keep Focused on the mission – what brings us together with a common sense of purpose
•Build more relationships: Co-op Bank, Credit Unions, Building Societies, Charitable Foundations and other like-minded investors
•Demonstrate our Social impacts, we are about More than Profit!
Thank You
Ulster Community Investment Trust13-19 Linenhall Street
BelfastBT2 8AA
Tel – 028 90315003Web – www.ucitltd.com
Twitter @UCIT_LtdFacebook