With the banking crisis constantly in the news at the moment, there’s never been a better time to think about finding an ethical bank for your money. I’ve blogged before about Triodos bank, the sustainable bank with offices in Bristol and now Edinburgh. I’ve got my savings there and am more than happy with the way they invest my money in small scale sustainable community projects and the accessible management structure of the bank. At the event I blogged about, which introduced savers to a project funded by the bank, I chatted to the Chief Executive of Triodos over lunch, something that would seem very unlikely to happen at any mainstream bank!
More well known as an ethical bank is the Co-operative, where I have my current account. They take a responsible attitude to investments including a customer led list of things they won’t invest in (such as armaments) and organise customer led campaigns.
Other ethical banking choices include credit unions and building societies.
I recently read Nicholas Shaxson’s book Treasure Islands, a shocking expose of tax havens and the detrimental effect they have on finance around the world, particularly in developing countries. It’s a must read book if you want to understand the web of intrigue that lies behind international finance and a very strong persuader for finding a solution to the financial crisis.
A personal first step is to choose an ethical bank. You can find out more about why ethical banking is important and find information about your choices at Move Your Money.
As ever, bold text contains hyperlinks that take you to other webpages where you can find out more.