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Ethical Living in the Real World - BANKS

Support ethical and green business practice

I’m certain that you have all had frustrating experiences with the bureaucracy and bone-headed business practices that are the paradigm of our culture. It is often the largest of the businesses or government departments that prove to be the least user friendly, and because of this it is easy to get discouraged, and give up any hope for change. Don’t. We can make a big difference if together we all make a few little changes.

In the Beginning - Fair Trade

Most of us now look for Fair Trade, organic and ethically produced products, at least insofar as we can depending on where we live.

Now it is time to focus on service based businesses, rather than product based ones and demand ethical practice.

My focus for this year is to support ethical business on the technical and banking front, and I hope that all of you will consider doing the same. The little changes do matter, and if hundreds , then thousands of us change a small pattern in our lives, we CAN and DO make a difference. This article is what I’ve done, and some basic information to help you make good judgements on the ethicality of people with whom you do business.

Ethical Banks

As with many plans, I have considered changing to an ethical bank for years, but the idea of all that paperwork and the potential errors and extra work made me put off doing anything until now.

As I have started a new small business this year, and in the past 9 years have had very little support, ridiculously high charges, and truly vile phone conversations with my bank manager at the Royal Bank of Scotland, I decided that this is the perfect time for a change.

Where to begin

When you look at banking in terms of ethical or admirable practices there are basically two levels to make judgements - investment and daily practice.

• In the UK, banks seem to be divided into two main headings, High Street and specialist.
• In the UK, there are quite a lot of smaller more specialist banks. The Alliance and Leicester (once a building society) has chosen to specialise in business banking. As such they certainly do appear to be ethical in terms of daily practice and how they treat their customers. I doubt that they are much different that the usual high street bank in terms of how the invest.
• My brother in the States says that there are many ethical banks, but every single one of these is a small family run bank, and many of these have been established for a long time.

What to look for - Investments

Investment is simple, ethical banks invest in businesses, initiatives, entrepreneurs and community programmes that by their nature build for the future - no guns, warships, drugs, over-development, mining, chemicals, GM, etc.

The only truly ethical bank I could find is Triodos, and it will not surprise you to know that it was started in the Netherlands, but now it has expanded into Belgium, Germany and the UK - hurray!!! I challenge you to find a more ethical bank in terms of investment. Triodos is amazing. They offer a fabulous service, very caring and personal, and the only down side is that they don’t yet offer a personal checking account.

What to look for - daily practice

Daily practice is a little harder to get a handle on. Banks exist to offer a service and paying for the service is your part of the deal, however some banks are more focused on the profits for their share holders than on service to their customers. So under ethical practice you expect personal, respectful and supportive guidance and information. Charges that are in line with the true cost in time and trouble, transparency. Ethical banks make your life a little easier, are there to help you, and treat you with courtesy and respect.

The simple fact is that the only ethical high street bank is the Co-op.

Believe me, I looked for another, but no other high street bank is consistent in the service it provides, and all of them invest in something you wish they didn’t.

What service you should be able to expect, and how to be sure you make the right decision:-

• In any business you should be able to expect honesty, efficiency, politeness, and transparency of practice. Some of these you can find by looking at their websites, the rest you will need to test person to person by phone or visit. Here are some pointers:-
• If it sounds too good to be true, then you are being drawn in by advertising spin. All ethical businesses have to make money, so do not expect fantastic bargains - this is the domain of crooks and manipulators.
• Always read everything you possibly can about the company, their policies, their aims, about their staff and anything they claim. THEN, read what the press, the consumer organisations and the public think.
• Recommendations from friends are fabulous, but third hand recommendations may be made by people who simply want to tell others what to do, they could be wrong for you.
• Always look for investment in the future and the global community - but don’t be persuaded by big business that adopts a single charity - this is simply a tax right-off and a way that bad guys pretend to be good guys.
• Talk to the people you contact as if they were friends. Ask their opinion, it is amazing what you can learn even before you begin the process of setting up a new account if you ask questions and chat!
• When you do decide where to go, expect some hiccups, but follow them up immediately and politely. The nicer you are the more they want you, and in an ethical business people are used to being treated with respect. So if you ring up hot-headed, you may be shooting yourself in the foot.

All the articles written by Derby Stewart-Amsden are FREE ACCESS on and off line - I would simply ask that you include the Bio and link information, Derby