What are the various ways to invest or save money ethically?
There are very few ethical current accounts but quite a few saving accounts available with competitive interest rates- the best known are offered by Triodos, Cooperative, Smile (the Cooperative’s online banking service) and the Ecology Building Society. More information can be found at the individual websites.The Charity Bank uses customer deposits to provide affordable loans to charities. It ‘often lends where banks or building societies either will not make a loan at all, or will only do so on unaffordable terms’. An example would be when a charity wants to purchase capital assets and cannot get a loan from a traditional bank because it has no dependable revenue scheme.Socially minded investors can invest in a Community Development Financial Institution (CDFI). A CDFI lends and invests in ‘areas and underserved markets that cannot access mainstream finance’. Individuals and institutions can invest a minimum amount of money (£1-£100,000 depending on the CDFI) and can hope to get their
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