75% of charities say bank's ethical stance matters in choosing a bank
Howard Lake | 9 June 2011 | News
The ninth annual Charity Banking Survey, published by Charity Finance magazine, reports that most charities take a bank’s ethical approach into account when deciding whom to bank with. The survey, which appears in June’s Charity Finance and online at www.civilsociety.co.uk, reports that 75% of charities judged a bank’s ethical approach as “important”, up from 61% in 2009. It is based on responses from more than 250 UK charities.
It is not the most important factor of course, but has moved from eighth to fourth place in just one year.
Appropriately enough, Co-operative Bank, takes top place in this year’s league table for primary market share of the charity sector. Paul Martin, Co-operative Bank’s regional manager, said that ethical initiatives, such as reinvesting 10% of profits into local communities, make it “the natural partner for charities”.
Charity Finance editor Andrew Hind said: “The banking crisis of 2009 has had many repercussions, and an important one seems to be a re-evaluation
amongst charities about what really matters to them in their choice of commercial partners. It appears that charities are increasingly appreciating the need to act, and be seen to act, with integrity in everything they do.”
www.civilsociety.co.uk/finance
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.