WHAT IS ETHICAL BANKING?

Not all banks have profit as their overriding objective. Several banks make it their mission to create social and environmental benefits, by carefully choosing which companies and projects they provide finance to.

Whether it’s by adopting an ethical policy that excludes lending money to environmentally or socially detrimental projects, or actively focusing on lending to companies and organisations that have a positive impact, a number of British banks are striving to  do banking far better.

In addition there are now a wide range of alternatives to banking with one of the big five, including Building Societies and Credit Unions where the fact that you are an owner as well as a customer, and that mutuals exist for the benefit of their members rather than to maximise profit, is also an attractive feature.

Taken from www.moveyourmoney.org.uk and www.ethicalconsumer.org

Case Study:

'MOVE YOUR MONEY'


Move Your Money rate a number of Britain’s banks based on  their innovative and unique approach to financial services and/or ethical policies: whether it’s through providing a truly bespoke and customer-driven service, or imbuing the banks operations with an ethical approach. 

These three banks score highly for their attention to social and environmental impact, whilst also generating a healthy return.

The banks in their top five don’t necessarily have a specific ethical or social aim (although some do) – what largely makes them different is that they place the customer experience at the very heart of their services.