UCIT appoints Alan as Chairman

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The Ulster Community Investment Trust (UCIT), one of the UK’s leading specialists in social finance, has appointed Alan Moneypenny from Portballintrae as its new Chairman.

Alan, who has had an extensive career in the private, public and community sectors, will serve as Chairman for three years.

Alan’s previous roles have included positions on the Boards of the Odyssey Trust, Sport NI (Vice Chair), Irish Football Association and Coleraine’s Riverside Theatre. Current appointments include Wellington College, Belfast Charitable Society and Groundworks NI.

In the past 15-years UCIT has provided over £60m to 450 community organisations, charities and social enterprises which would otherwise have found it difficult to access loan finance from other sources. Projects supported range from the building of new premises to the provision of green energy and employment support.

Mr Moneypenny said: “I’m delighted to become UCIT’s Chairman at a time when demand for and interest in social finance is at an all-time high. Just recently UCIT announced a record quarterly performance with over £2m in new facilities approved or utilised at the start of 2017.

We’ve also undertaken a partnership arrangement with Belfast Charitable Society and Building Change Trust in order to be able to provide smaller, unsecured loans. The NI Small Business Loan Fund, which UCIT manages on behalf of Invest Northern Ireland, also continues to grow strongly.

“Northern Ireland’s small business and third sector are an important source of employment, wealth generation and community services. Working with UCIT’s Board and Director team we will continue to seek innovative ways to support and grow these sectors.”

Harry McDaid, UCIT’s CEO, added: “At a time when funding options from Government and traditional sources are becoming constrained it’s vital that social finance providers such as UCIT are there to provide professional support and advice. Our Board is integral to UCIT’s work, providing commitment, strategic oversight and invaluable links with the community, voluntary and social enterprise sectors. I’m looking forward to working with Alan and my other colleagues on the Board as UCIT continues to expand its operations.”

Outside of his career Alan’s interests include rugby, golf, classic cars and motor sport, especially road racing.