New name for CafCash

first_imgCAF BANK was unique in its focus when it was founded in 1986: it was a bank created for the benefit of the non-profit sector with no commercial agenda. It now has over 15,000 accounts, £800 million on deposit and an estimated 10% share of the charity banking market. It is estimated that the extra interest it pays, when compared to its high-street competitors, is worth an extra £18 million a year to the sector.As well as its main current and deposit accounts, the bank now offers other value added features, including Internet Banking, an ATM cash card and QuickPay – an electronic regular payment system.The name change arose after CAF had commissioned research to help it understand its customers’ perceptions. The research revealed that charities were unable to guess the nature of the bank’s business from its name alone. CafCash Ltd, the banking subsidiary of Charities Aid Foundation (CAF) is tobe renamed CAF BANK on 10 November 2003, in response to feedback from new customer research.Peter Mitchell, CAF’s Head of Banking Services, believes that the new name will better reflect its status as a bank that provides services exclusively to charities and non-profit organisations. He said: “The CafCash brand has served us well for 17 years, but our hope is that the new CAF BANK brand will communicate to charities, clearly and quickly, what we are and what we do. We will still aim to deliver the same high quality of service and market-leading interest rates as when we wereCafCash.” Advertisement  55 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 New name for CafCashcenter_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Howard Lake | 6 November 2003 | News Tagged with: Consulting & Agencies Financelast_img

Leave a Reply

Your email address will not be published. Required fields are marked *

*
*