We have a long, proud history of supporting communities, colleagues and customers.
Our purpose-led approach to financial inclusion is evidenced through our aspiration that no Virgin Money customer will be paying a poverty premium by 2030. We’ve been collaborating with key industry and sector leaders – including Fair By Design and the Global Open Finance Centre of Excellence (GOFCoE) - on development of a data-led approach to tackling poverty premium. And our market leading basic bank account – the M account – won the award for ‘Social Inclusion in Financial Services’ at the Card and Payments awards in April 2021.
We have made good progress in the last 12 months in creating the right culture, recognised with a gold TIDE award from the Employers Network for Equality and Inclusion. We launched a career sponsorship programme providing ethnic minority colleagues with support to build capability and accelerate their career and launched the Everywoman platform, empowering women and supporting their career progression. You can find more about our approach to Diversity and Inclusion in Our People.
Virgin Money has a zero-tolerance approach to slavery, servitude, forced labour and human trafficking (modern slavery) and we have refreshed our approach through the mobilisation of a cross-functional working group.
The Virgin Money Foundation Link opens in a new window (VMF) continues to support local people in creating positive change in their community and last year awarded 140 grants.
As part of our partnership with Macmillan we initiated two pilots and introduced guides to increase our empathetic support of people affected by cancer. We’re delighted to have extended our charity partnership into 2023 and have set a new fundraising target of £500k over the two years period which will help to fund Macmillan’s vital support line services and cancer workforce. See here for more information on our partnership with Macmillan Link opens in a new window.
- Launched Virgin Money Macmillan guides in partnership with Macmillan, providing support for people living with or affected by cancer.
- £374,000 fundraising for Charity Partner Macmillan.
- >90% of Virgin Money Foundation grants awarded to groups working in neighbourhoods that feature in the top 20% of the Index of Multiple Deprivation.
- Supported over 22,000 young people through Make £5 Grow, our flagship enterprise programme
No VM customer paying a poverty premium.
Sponsor diverse talent at every level and achieve a fully diverse top-quartile of the organisation.
Short > Medium Term Targets
Raise a further £500k for Macmillan by FY23.
Diversity targets across gender (45% to 55%), ethnicity (10%), LGBTQ (4%) and disability (8%) by 2025*.
* These targets are set with reference to the Census and Office of National Statistics data, in order to ensure we are representative of the UK and therefore remain under constant review as census data changes