Charities challenge Lloyds TSB
Charities and community groups across Scotland have today launched a campaign to save the Lloyds TSB Foundation for Scotland.
Lloyds Banking Group has ended the agreement that guarantees its share of the Bank's pre-tax profits to the charitable foundation and which has allowed the distribution of £85million to disadvantaged communities across Scotland since 1985.
The aim of the campaign is to impel Lloyds Banking Group to reverse its decision to terminate the existing covenant with the Lloyds TSB Foundation for Scotland.
The campaign kicks off with a petition addressed directly to the Bank and a letter from Alison Elliot, Convener of the Scottish Council for Voluntary Organisations, will be delivered by Chief Executive Martin Sime to the Lloyds Banking Group AGM in Edinburgh on Thursday.
Martin Sime, Chief Executive of the Scottish Council for Voluntary Organisations, said: "The decision of Lloyds Banking Group is a cynical one, putting the interests of this tax-payer funded bank before the needs of communities across Scotland. For 25 years the Lloyds TSB Foundation for Scotland has invested in and supported communities across Scotland. Now it is our turn to support the Foundation."