A bank that pays living wages, not excessive bonuses

By Jul 08, 2014

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Tonbridge based Charity Bank – the ethical bank that takes savings from individuals and institutions, and lends solely to social sector organisations – has become one of the first employers in Kent to become an accredited Living Wage Employer.

The Living Wage is an hourly rate of pay which is calculated against the cost of living in the UK. It is monitored independently by the Living Wage Foundation and updated annually. Our accreditation ensures that Charity Bank employees benefit from pay levels which reflect the true cost of living.

Charity Bank’s Chief Executive, Patrick Crawford says, “Charity Bank is backing the Living Wage Campaign because it is consistent with our values and is morally right, and because it makes sound business sense.”

“Charity Bank was established in 2002 to be a different kind of bank, lending its savers’ money to charities and other organisations that improve and enrich society. As part of our mission and ethos, we believe that it is important to pay our people at least the Living Wage.”

“At the other end of the spectrum we do not operate a bonus scheme for staff or executives, and all of our non-executive directors are unpaid.”

Rhys Moore, Director of the Living Wage Foundation, says, "Accredited Living Wage employers have helped to lift over 45,000 people out of poverty. I welcome the leadership shown by Charity Bank on this important issue as they join the Living Wage movement."

"The best employers are voluntarily signing up to pay the Living Wage now. The Living Wage is a robust calculation that reflects the real cost of living, rewarding a fair day's work with a fair day's pay."