This significant investment builds on The Cambridge’s ambition to make a difference in the community as the curtain comes down on the society’s 175 anniversary celebrations – which has already seen a record £175,000 committed to good causes.
Greater Cambridge Impact - seeded by Cambridge City Council and the Cambridgeshire and Peterborough Combined Authority, with both authorities investing £1million each - aims to raise a 10-year, £10 million investment pot that will deliver lasting, measurable change in areas including homelessness and children in care.
Peter Burrows, Chief Executive of The Cambridge Building Society, said:
"This year marks 175 years of The Cambridge, and there’s no better way to honour that legacy than by investing in the future. Our significant investment in Greater Cambridge Impact reflects our deep commitment to responsible finance and making the difference for the long-term.
“We have an explicit social purpose: to help people have a home. We believe in the power of community and are proud to stand alongside the next generation of Cambridge entrepreneurs and civic leaders who are pledging their success to tackle inequality and create lasting change towards a fairer, thriving Cambridge for generations to come.”
The £1million investment was announced by Peter at a business event hosted by the society on Thursday (6 November) which brought together influential voices from business, education, sport and the arts, to explore how trusted, long-standing institutions can act as powerful catalysts for inclusive, resilient, and forward-looking communities.
Sara Allen, Executive Director of The Cambridge Pledge, said:
“The Cambridge Building Society’s investment is truly transformative — a leading example of how local institutions can step forward to help tackle inequality and build thriving, resilient communities.
“We’re proud to be working alongside them. Their commitment and trust mean a great deal, and we take that responsibility incredibly seriously. This partnership sets a powerful example of how local capital can drive lasting social change. Let’s get to work!”
Cambridge is globally renowned for its innovation ecosystem – home to 24 unicorns, world-class universities, and companies like Arm, Abcam, and AstraZeneca. Yet, despite this prosperity, Cambridge remains one of the UK’s most unequal cities.
Greater Cambridge Impact aims to change that through its innovative social impact investment to offer a sustainable, scalable model for change – one that ensures financial returns are combined with measurable social outcomes.
Paul Bristow, Mayor of Cambridgeshire and Peterborough, said:
“We need to spread the benefits of growth to more people and places. And we need to address inequality to unlock our region’s potential as a thriving economy and great place to live. It’s as simple as that.
“Greater Cambridge Impact is already tackling the issue head on, and the additional funding will mean the support can be scaled, benefiting more communities. It’s this type of collaborative working that will power up the region and have a lasting impact.”
Cllr Cameron Holloway, Leader of Cambridge City Council, said:
“We are fortunate to have organisations like The Cambridge who share our vision for One Cambridge, fair for all, and are prepared to back that up with investment on this scale. We had a vision to create a new way to enable Cambridge’s organisations to invest in our communities, and we committed an initial £1 million investment to get Greater Cambridge Impact off the ground.
“It’s a real milestone to have The Cambridge join us on this journey as our first social investor - we hope, the first of many. Working together, we can make a real difference to the lives of people in need in our city."
For more information or to get involved, visit www.greatercambridgeimpact.org.
