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NEWS > Charity Sector News > Bank of Ireland donates €1 million to cost of living crisis response

Bank of Ireland donates €1 million to cost of living crisis response

This funding will be used to provide support to 12 organisations across island of Ireland with €500,000 being fast-tracked for vulnerable groups with immediate needs.

Bank of Ireland is donating €1 million 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 Bank is making €500,000 available immediately with the remaining €500,000 to be allocated in March.  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.

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.

Myles O’Grady, Bank of Ireland Group CEO, commented: “The rising cost of living is a real challenge for many people. 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.”

Denise Charlton, CEO, Community Foundation Ireland said: “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.

“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.”

The beneficiary organisations identified by the Foundation who will receive funding from Bank of Ireland in ROI 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. 

Supporting the financial wellbeing of customers, communities and colleagues is a top priority for Bank of Ireland.  Advice on budgeting and financial management from Bank of Ireland’s Financial Wellbeing team is available on Bank of Ireland Cost of Living Hub


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