Charity Bank the loans and savings bank for positive social change has been awarded the joint highest score and received a ‘Best Buy’ by Ethical Consumer.
In their savings account shopping guide, Ethical Consumer ranked 48 banks on their approach to issues concerning the environment, animals, people, and politics.
Charity Bank received Ethical Consumer’s Best rating across all categories including worker’s rights, animal rights, climate change, tax conduct and environmental reporting, outranking high street banks, digital challenger banks and ethical competitors.
Charity Bank was also commended for its positive lending policies. In a Charity Bank savings account depositors are not only avoiding contributing to social and environmental harm but by lending to charities and social enterprises, are actively financing projects that are working towards positive social impact.
With Charity Bank, savings become part of a social mission to build a better society, they might be used to build affordable homes, launch renewable energy projects or to fund projects in deprived communities.
This latest recognition comes in addition to the bank winning the ‘Best Ethical Provider’ 2023 award by industry experts, Savings Champion and is testament to Charity Bank’s commitment to being a ‘bank for good’.
Louisa Gould from Ethical Consumer said, “For a savings account to be ethical it is important for it not to contribute to social and environmental harm. Charity Bank scored at the top of our table for its positive lending policies and received a Best rating in our environmental reporting and climate change categories, meaning it had been clear and transparent in what its environmental impacts are and what actions it was taking to manage this.”
Justin Hort, Director of Operations and Savings at Charity Bank said, “We are proud to be recognised by Ethical Consumer for our commitment to being a ‘bank for good’. I would like to thank our savers for continuing to choose us, to not only deliver a return but also supporting the extraordinary work of charities and social enterprises across the UK.”
Ed Siegel, CEO at Charity Bank said, “We are delighted to have received a Best Buy rating from Ethical Consumer and to be commended for our transparency. It is now more important than ever that savers are well informed and have ethical options that they can trust. With Charity Bank, savers can rest assured that their money is not only not doing harm, but actively doing good by being lent to charities and social enterprises that are tackling some of the most challenging issues confronting our society today.”
About Ethical Consumer
Ethical Consumer are an independent, not-for-profit, multi-stakeholder co-operative. For over 30 years Ethical Consumer have been the hub of the ethical consumer movement, helping consumers to shop ethically, campaigners to challenge corporate power and businesses to improve their supply chains. Their mission is to make global businesses more sustainable through consumer pressure.