A NEWTOWN based ethical bank has scooped the UK’s top accolade at the Citi Microentrepreneurship Awards.

The Robert Owen Community Banking Fund (ROCBF), founded to support the principles of fairness, accountability and co-operation, was described as “exemplary” in the terms of its environmental, economic and social impacts for communities, businesses and individuals.

Over the past three years ROCBF’s Community Banking Fund, which targets the lowest income, highest risk areas of Wales where people want to develop community energy schemes, has loaned £957,000 to 25 pilot schemes, 20 of which have gone on to development.

That £1 million levered £17 million of construction investment in Wales and created several new “community benefit” societies which are now paying dividends to members plus hundreds of thousands of pounds for good causes.

ROCBF’s Mick Brown said: “We’re thrilled that judges recognised our positive environmental impact.

“The prize fund will make an enormous difference to our small organisation.

“We hope this recognition and our record of delivering carbon reduction schemes and working as a partner to parts of the public sector will open more doors with Welsh Government and local authorities.”