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The FMH was registered as a CIC but why?

Updated: Feb 8

An open letter to our FMH community members


The FMH was registered as a CIC but why


Dear FMH Family,


As we continue on our journey at the Fintech Marketing Hub, we wanted to share with you the heartfelt story behind our decision to embrace the not-so-popular Community Interest Company (CIC) model and reaffirm our unwavering social mission and values that guide us every step of the way.


When we embarked on this adventure in 2020, our vision was clear: to forge a dedicated space for fintech marketers to learn, grow and shine together; with the ultimate goal to make the community as useful as possible for our members. The fintech landscape is exhilarating yet challenging, filled with opportunities to innovate but also hurdles like trust issues, fierce competition and stringent regulations. We recognised these challenges and saw a need for a community that could support and elevate fintech marketing professionals and enthusiasts alike​.


Our choice to become a CIC was not made lightly. It was a declaration of our commitment to you and the broader community we serve. As a CIC, we're able to ensure that any surplus we generate is reinvested back into the community or donated to meaningful causes, such as our nominated charity Macmillan Cancer Support. This model allows us to keep our programmes and services free for all members, ensuring that access to valuable resources, networking opportunities and expert insights remains open and inclusive to everyone in our community​​​.


This decision is deeply rooted in our mission to shape the future leaders of fintech marketing. It reflects our belief that by pulling together, we can achieve remarkable things. We are more than just a platform; we are a vibrant community of passionate individuals who believe in making a difference in the world of fintech marketing and beyond. Our initiatives, from talent recognition to mentorship programmes, are designed to empower and celebrate the incredible talents within our community​.


Our values of collaboration, inclusivity and social responsibility are at the core of everything we do. Choosing to operate as a CIC enables us to live these values to their fullest, ensuring that we remain a community-led and focused platform. It's about creating a space where everyone, regardless of their background or level of experience, feels welcomed, valued, and empowered to reach their full potential.


As we move forward, we want you to know that your contributions, ideas and enthusiasm are what make the Fintech Marketing Hub a truly special place. Together, we're not just navigating the complexities of fintech marketing; we're setting new standards and building a future where everyone has the opportunity to succeed and make an impact.


Thank you for being a part of our journey. Your support, participation and passion are what drive us forward. Here we'd also like to say a special thank you to our esteemed advisory board members Philippa Artus, Helen Owen, Jonathan Nyst, Dr. Leeya Hendricks, Michelle O'Connor, and Leonard Burger for their invaluable advice and dedication to our cause. Here's to continuing to grow, learn and shine together as we make the Fintech Marketing Hub the best it can be for all of us.


With gratitude and optimism.


Ani & Araminta

co-Founders of The FMH


 

What is a Community Interest Company?

A Community Interest Company (CIC) is a legal form of a non-charitable limited company, which exists to benefit the community rather than private shareholders. This model is ideal for businesses that aim to conduct their activities with a primary focus on social objectives. The unique feature of a CIC is its "asset lock" and "community interest statement." The asset lock is a legal promise that the company's assets and profits will be dedicated to its community purposes, and any profits distributed as dividends will be limited. This ensures that the profits generated by the company are either reinvested into the company to further its social or community objectives or donated to a charity.


 

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