Banks are in business to make profits. One way they do this is by lending your money to someone else at a higher rate of interest, but they rarely disclose who they lend it to. If you are concerned about your money being invested in unethical businesses and corrupt regimes then why not switch to an ethical bank?
An ethical bank, also known as social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. Ethical banks are part of a larger societal movement toward more social and environmental responsibility in the financial sector.
"The blunt truth about the politics of climate change is that no country will want to sacrifice its economy in order to meet this challenge, but all economies know that the only sensible long term way of developing is to do it on a sustainable basis." - Tony Blair
Ecology Building Society specialists in ethical savings accounts and green mortgages for properties that benefit the environment. Mortgages are available for properties requiring substantial renovation or conversion; energy efficient new builds constructed from sustainable materials; and for the addition of energy saving devices and renewable energy systems to existing properties. www.ecology.co.uk/
Charity Bank is unique – it’s a bank which is also a charity. It takes deposits from individuals and organisations, and uses the funds to provide loan finance solely to enterprising charities and community organisations. It’s a simple way to support charity without having to give your money away. www.charitybank.org
The Co-operative Bank is part of The Co-operative Group – the UK’s largest consumer co-operative – they have some 6.5 million customers and offer a range of financial products, providing high street and Internet banking, current accounts, mortgages, credit cards and loans. The Co-operative Bank is committed to leading the way on ethical, environmental and community matters. They have unique ethical policies setting out the way they do business which have been developed in full consultation with their customers. www.co-operativebank.co.uk
Greenhomemortgage.co.uk was started to help people have an informed choice about the mortgage they choose for their home if they want to follow an environmentally sound path. www.greenhomemortgage.co.uk/
