Ethical Money
What you spend your money on has impact throught the world and society - where you save your money also has an impact. All of the world's big banks use the money you deposit with them to make money and lending to whoever will pay the interest they charge. Political, social and environmental considerations play little or no part in the decision of what to invest in.
What is the point of saving money by not consuming and that money being used by your bank to fund big business? So what an you do - here are a couple of ideas for people here in N.Ireland.
Join a credit union - A credit union is a kind of not-for-profit community bank that encourages regular saving and usually offers low interest rate on loans. It is owned by its members and staffed by volunteers. The website of Irish League of Credit Unions offers more information and locations of local credit unions.
Choose an ethical bank - There do exist a few ethical banks in the UK - they are small but they do exist and they do offer a comparable (and in many cases better) level of service than the big multinational financial houses. Here are a few:
The Co-operative Bank is a part of the greater Co-operative Group. It has had an detailed ethical policy since 1992 - full details on the website. It has a branch in Donegall Square in Belfast.
Smile.co.uk is an internet-only bank owned by Co-operative Bank and follows the same ethical policy as its parent.
Triodos Bank - This bank has branches in several European countries as well as in the UK. It specialises in investing in ethically-sound businesses, environamental organisations, charities etc.
What is the point of saving money by not consuming and that money being used by your bank to fund big business? So what an you do - here are a couple of ideas for people here in N.Ireland.
Join a credit union - A credit union is a kind of not-for-profit community bank that encourages regular saving and usually offers low interest rate on loans. It is owned by its members and staffed by volunteers. The website of Irish League of Credit Unions offers more information and locations of local credit unions.
Choose an ethical bank - There do exist a few ethical banks in the UK - they are small but they do exist and they do offer a comparable (and in many cases better) level of service than the big multinational financial houses. Here are a few:
The Co-operative Bank is a part of the greater Co-operative Group. It has had an detailed ethical policy since 1992 - full details on the website. It has a branch in Donegall Square in Belfast.
Smile.co.uk is an internet-only bank owned by Co-operative Bank and follows the same ethical policy as its parent.
Triodos Bank - This bank has branches in several European countries as well as in the UK. It specialises in investing in ethically-sound businesses, environamental organisations, charities etc.
posted by voluntarysimpleton at 5:19 AM
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