The way some banks have behaved recently does not make me feel great about where I keep my money. The recurring stories of excessive bonuses, dubious tax avoidance schemes, fiddling interest rates, support for arms trade, oil, fracking or other dodgy bank deals have made me think about alternatives. Under the mattress is not really a practical option so I have been looking into ethical banking and been pleasantly surprised by what I have found out.
This is a profitable and growing organisation, the 25 banks in the Global Alliance for Banking on Values are independent, licensed financial institutions with combined assets of approximately $100 billion. Together they touch the lives of more than 20 million people in 30 countries. While many of their mainstream contemporaries have been hit hard by the financial crisis, this network of progressive banks have largely flourished during it. They share a commitment to build a more sustainable future and have developed effective ways to deliver it.