This past April we, along with Move Your Money UK, launched our guide letting you know why you should move your money away from the big banks towards more ethical banking providers and how you could do it in just five easy steps.
The practice of ethical banking is making legitimate headway in the banking sector and making headlines in the news. No longer viewed by ordinary people as a fad, ethical providers such as the Co-op have reported huge increases in online applications for new accounts.
However, student’s unions have yet to join the movement and switch their accounts to a more ethical provider. In fact, currently only 12 SUs bank ethically! With SUs across the country turning over millions of pounds each year, just imagine the impact it would have if they left an unethical provider (such as Barclays, Santander, LLyods, RBS, and HSBC) and switched to a more ethical alternative.
This short, one page guide for student’s unions on ethical banking is designed to do just that. It includes a sample motion on ethical banking that you can submit to your SU and also includes suggestions on what institutions your Union can switch to.
Switching providers can be intimidating and it’s important to remember that your finance department will be doing most of the work. However, it’s in your power to jumpstart the change and set a good example for your whole university or college community.
If you would like more information regarding switching your SU bank account contact firstname.lastname@example.org.
See moveyourmoney.org.uk to join the movement.