Afghanistan veteran with medals and child

SSAFA awarded £1 million from LIBOR

6 December 2017

SSAFA awarded £1 million from LIBOR

The Chancellor of the Exchequer has awarded £1 million to SSAFA from LIBOR banking fines to support the provision of personal face to face welfare support to members of the Armed Forces community.

SSAFA has a distinguished 132 year track record of providing lifelong support to members of the Armed Forces community in need.  Last year alone we supported 67,616 people, an 8% rise on the previous year.

Our extensive reach in local communities and on military establishments is utilised by over 100 other military charities to help them achieve their charitable objectives. In 2016, SSAFA enabled the distribution of over £16 million in grants to individuals in need from benevolent and other service funds.

The typical age of those in need of our support is changing, with growing numbers of requests for assistance from working-age veterans and their families.  This group often faces wide-ranging and challenging issues, including employment, financial hardship, housing and mental health issues.

The funding will enable us to develop our core volunteer-led services to ensure we can continue to meet the evolving and increasingly complex needs presented by our beneficiaires.

The project will run for a three year period from April 2018.

 

Making a difference to the lives of the Armed Forces community

Sir Andrew Gregory KBE CB, SSAFA Controller, said:  “This latest grant from the LIBOR banking fines represents a chance to make a positive difference to the Armed Forces community. The practical, emotional and financial support that SSAFA, the Armed Forces charity provides for military personnel, past and present, and their families is vital. From the SSAFA Mentoring service supporting individuals transitioning back into civilian life, to Forcesline, our free and independent helpline service for anyone needing a confidential ear outside of the chain of command, we are here to help in times of need. SSAFA has gratefully received this funding and will now be able to carry out even more of this essential work by enhancing the provision of SSAFA’s personal services, as set out in our Strategic Plan”.

Jonathan Sandall, Director of Fundraising at SSAFA, said: “We are delighted to have been awarded this grant from LIBOR fines, which will make a significant contribution to our face to face welfare support programme.”

About LIBOR Funds

£1 million awarded to SSAFA to enhance the provision of personal face to face support to meet the changing and increasingly complex needs of the Armed Forces community.

In 2012, HM Treasury announced that:

“The proceeds from LIBOR fines would be used to support Armed Forces and Emergency Services charities and other related good causes that represent those that demonstrate the very best of values.”

£773 million has been awarded since 2012.  In this final round of LIBOR funding, £36 million was awarded to 96 charities.

For more information about LIBOR funding commitments announced in Autumn 2017, visit the website.