What’s in a label?
Charity Bank has many awards and accreditations attesting to our social mission – but what do they all mean exactly?
Charity Bank has many awards and accreditations attesting to our social mission – but what do they all mean exactly?
Charity Bank currently has accreditation or affiliation with all of the following bodies:
Charity Bank has been awarded the Ethical Consumer Best Buy label for our savings accounts and is ranked top among banks and building societies for having the most ethical savings accounts. The Ethical Consumer Best Buy label is awarded for products and services with excellent environmental and ethical records. Their researchers rate both the product and the company behind the product against more than 20 animal welfare, environmental and human rights criteria.
The Investors in the Environment (iiE) certification scheme is an environmental management system designed to support organisations that want to make a positive impact on the planet. The national environmental accreditation scheme is designed to support organisations on their sustainability journey and helps businesses to reduce their environmental impact. Charity Bank has successfully met the criteria of the iiE’s Green Level which involved meeting specific criteria related to energy efficiency, waste management, water usage and other environmental considerations.
B Corps are companies where the interests of employees, communities and the environment rank alongside those of shareholders. B Corps meet the highest standards of social and environmental performance, transparency, and accountability. In October 2019, Charity Bank was 1 of 56 UK B Corps to be recognised as Best For The World – for creating exceptional positive impact for workers, the environment, community, customers, governance, and changemakers. In 2023, Charity Bank refreshed its certification and was accredited with an increased B-Corp score of an impressive 134.4.
The Savings Champion Awards which are specially selected by industry experts, Savings Champion, has been celebrating the very best of the savings sector for a decade. Charity Bank was built on the premise of enabling its depositors to put their money where their values are, with the continued promise to use its savers’ money to provide much needed loans to UK organisations working to drive positive social change. Charity Bank won the ‘Best Ethical Provider’ 2024 award, recognising the bank’s commitment to being a ‘Bank for Good’.
The Ethical Company Organisation’s researchers monitor the ethics of companies across a wide range of sectors and set a benchmark for corporate behaviour. Banks and building societies are rated on their social and environmental performance. The results are published on The Good Shopping Guide. Charity Bank has been awarded the top spot in the index of ethical banks and building societies for 15 years running.
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 so that employees can benefit from pay levels that reflect the true cost of living. Charity Bank became a Living Wage Employer in July 2014. Charity Bank also seeks to work with Living Wage suppliers and encourages those it works with to become accredited.
Charity Bank is a member of the Responsible Finance Association, providing affordable and fair finance with a mission to do good. Responsible Finance providers aim to build hope, create opportunity and change lives. They are motivated by the aim to bring social and economic benefits to people and places, rather than putting profits for shareholders ahead of all else.
Social Enterprise UK awards badges to independent businesses with a clear social or environmental mission and a policy of transparency about how they operate and the impact they have. Charity Bank is the only bank to be certified as a social enterprise. Social Enterprise UK’s expectations of social enterprises are as follows:
Charity Bank is a member of the Global Alliance for Banking on Values which is a not-for-profit organisation and independent network of banks and banking cooperatives. We share a mission to use finance to deliver sustainable economic, social and environmental development. Founded in 2009, the GABV comprises of 63 members and 16 supporting partners operating in countries across Asia, Africa, Australia, South and North America and Europe.
Charity Bank is a certified member of the Fossil Free Alliance and has been highlighted as Top Pick for being one of the Greenest Banks in the UK. The Fossil Free Alliance is a global network of organisations, communities, and individuals committed to divesting from fossil fuels and promoting a transition to renewable energy sources. Together with other member organisations, Charity Bank is advocating for divestment from fossil fuel industries, encourage investment in renewable energy alternatives, and raising awareness about the environmental and social impacts of fossil fuel extraction and consumption.
Charity Bank is an official supporter of Social Enterprise Scotland, a representative and membership-led organisation that has united and represented social enterprises in Scotland for more than 15 years. We share in Social Enterprise Scotland’s mission to support social enterprise growth and development and join their community of over 500 social enterprises and supporters.
The Women in Finance Charter is an initiative that has been gaining momentum across the financial sector, driven by the need for increased gender diversity and inclusion. As a socially driven organisation, Charity Bank is proud to join the Women in Finance Charter and reaffirm our commitment to gender equality and inclusivity in the workplace. We firmly believe that fostering diversity in leadership and management positions is crucial to our mission of driving positive change and creating a more sustainable and equitable society.
Disability Confident is creating a movement of change, encouraging employers to think differently about disability and take action to improve how they recruit, retain and develop disabled people. A Disability Confident employer challenges attitudes and increases understanding of disability, while removing barriers for disabled people with long-term health conditions and support disabled people to fulfil their potential.
Good Finance is a collaborative project to help improve access to information on social investment for charities and social enterprises. They recognise social investment can be confusing and difficult to navigate. That’s why in 2016 key representative from social enterprises, charity and social investment sectors came together to launch an initiative to help tackle this barrier for social sector organisations.
Charity Bank, the loans and savings bank for charities and social enterprises, has signed up to the Diversity Forum Manifesto, reaffirming its commitment to Equity, Diversity, and Inclusion (EDI). Charity Bank is joining the Diversity Champions Network which regularly meets to review best practice in the sector reviewing recruitment, training, and overall culture. The Champions network plays a crucial role in collecting data and sharing best practice relating to diversity and inclusion from across the social impact sector, helping to support the mission of the Forum.
Your eligible deposits with Charity Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
Our 4-day week pilot is coordinated by 4 Day Week Global, a not-for-profit community established by Andrew Barnes and Charlotte Lockhart who created the platform for people who are interested in supporting the idea of the 4-day working week as the future way of work.
By participating in the 4 Day Week Global pilot, Charity Bank will receive training designed and delivered by international organisations who have already successfully implemented a 4-day week, as well as mentoring and networking opportunities to share learnings and experiences. Researchers will also be working with us to establish relevant productivity metrics for Charity Bank which will be measured throughout the trial.