Our strategy is to harness the positive social impact of our business to strengthen our communities.
We invested £113 million in communities across the UK in 2009, including support for financial inclusion, sponsorship of sports for young people and grants through the Lloyds TSB Foundations. We are committed to ensuring that we make a positive contribution to the communities we operate in.
Lord Leitch, Deputy Chairman
Our community investment strategy
As a major employer and purchaser of goods and services Lloyds Banking Group’s main contribution to society is our direct economic impact. With around 125,000 staff members the Group is one of the biggest private sector employers in the UK. Last year alone we paid £4.4 billion in salaries and spent over £5 billion on goods and services all over the UK. In that period we collected £2 billion in various employment taxes on behalf of the government – enough to fund over 600,000 teachers.
Our approach to community investment
Our economic contribution to society is supported by our Community Giving programme. We invested £113 million across the UK in 2009, including support for financial inclusion, sponsorship of sports for young people and various grants, all channelled through Lloyds TSB Foundations.
Investing cash and time in thousands of local communities not only builds trust; it also helps our understanding of the diversity of our customers across the UK. This in turn allows us to better adapt the way we do business to meet their needs.
Our active investment in communities focuses on the key themes of:
- Community sponsorship and funding local charities working with disadvantaged community groups.
- Supporting colleagues with their local community engagement and fundraising.
- Improving levels of financial inclusion and literacy in the UK, particularly amongst vulnerable groups.
- Lloyds Banking Group’s charitable giving is channelled through the Lloyds TSB Foundations, covering England and Wales, Scotland, Northern Ireland and the Channel Islands. In 2009, the Lloyds TSB Foundations received £29 million from the Group to support their work in some of the most vulnerable communities in the UK.
- In 2009, our colleagues volunteered over 71,000 hours to charities and community groups across the UK. Donations of over £325,000 were made through our matched giving and volunteering programmes.
- Our new Day to Make a Difference volunteering initiative, launched in February 2010, gives colleagues across the UK the opportunity to volunteer and make a difference where they live by spending one day of the year volunteering for a charity or community project of their choice.
- We are the Official Banking and Insurance Partner of the London 2012 Olympic and Paralympic Games.