Bank donates €1m in cost of living crisis response

€500,000 being fast-tracked for vulnerable groups with immediate needs.

Bank of Ireland is donating €1m to organisations supporting those most at risk from cost of living pressures.

The donation will be targeted to a range of groups including children and families at risk, older persons, those with disabilities, lone parents, international protection applicants, and low-income families.

“The rising cost of living is a real challenge for many people”

The Bank is making €500,000 available immediately with the remaining €500,000 to be allocated in March.

Practical supports

The first €500,000 is being fast-tracked to 12 organisations working with vulnerable groups across the island of Ireland with grants ranging from €25k up to €100k. It will support established, national organisations that are alleviating the cost of living crisis through the provision of a range of practical supports. The second allocation will be divided across approximately 50 smaller non-profit organisations, with average grants of up to €10,000 being distributed in March.

The beneficiary organisations identified by the Foundation who will receive funding from Bank of Ireland in the Republic of Ireland are: The Children’s Rights Alliance, Focus Ireland, Enable Ireland Disability Services, Age Action, One Family, Tribli CLG, Crosscare, Irish Refugee Council, Immigrant Council of Ireland, Children’s Rights Alliance.  In Northern Ireland, Barnardo’s NI, Oasis Caring in Action Antrim, Belfast and Lisburn Women’s Aid will receive funding. 

“The rising cost of living is a real challenge for many people,” said Myles O’Grady, CEO of Bank of Ireland. “As a large employer we have supported our colleagues with a one-off cost of living payment, and have been doing what we can to support customers through a challenging winter.

“Today we are making a donation to a support a range of groups working with some of the most vulnerable in our society, and appreciate the support of Community Foundation Ireland in helping get this to those who need it most as quickly as possible.”

As with previous similar donations, the Bank is working with Community Foundation Ireland. The Foundation has advised the Bank on a wide range of social issues and organisations that require immediate financial support, and is managing the allocation of the funding on behalf of the Bank.

“The generosity of the team at Bank of Ireland will deliver real supports and services to assist those families affected most by the cost-of-living crisis,” said Denise Charlton, CEO, Community Foundation Ireland.

“The grant-making resulting from this extraordinary donation is being informed by the insights of our network of 5,000 community partner organisations and research gathered through our work with the ESRI. That knowledge allows Community Foundation Ireland to guide strategic donors like Bank of Ireland to respond in a way which delivers real benefits for individuals and communities.

“We are proud to count on Bank of Ireland as a long-term partner which not only responds to immediate need, but shares our longer term strategic vision of equality for all in thriving communities.”

Main image at top: Myles O’Grady, Group CEO Bank of Ireland with Denise Charlton, CEO of Community Foundation Ireland, along with grant recipients Focus Ireland’s Director of Services, Ciara Carty and Tanya Ward, CEO of The Children’s Rights Alliance

John Kennedy
Award-winning editor John Kennedy is one of Ireland's most experienced business and technology journalists.