The popularity of current accounts with ethical provider The Co-operative Bank soared in 2009. Current account sales at the bank increased 38%, with the number of customers switching to The Co-operative Bank from other major providers rising 22%. Research by The Co-operative Bank found that 10% of consumers switching current account providers do so because [...]
Ethical bank Triodos reported a record year for its UK operations in 2009, with lending and commitments growing by 73%. During 2009 the bank loaned nearly £250 million to organisations in the UK delivering social, environmental or cultural benefits. Bevis Watts, the bank’s head of business banking, said the surge in lending for 2009 was [...]
Equity Bank has secured the accolade of Africa’s microfinance bank of the year for the second year running. The Kenyan microfinance provider was announced as the winner at the 2009 African Bankers Awards in Istanbul, Turkey. Equity knocked out other leading contenders to take the award, including Accion, Nigeria, Blue Financial Services of South Africa [...]
Islamic Bank of Britain (IBB) is offering annual returns of 4.5% to investors who open its 24-month Fixed Term Deposit Account. The bank invests its money ethically according to Sharia principles – meaning you won’t putting your money into arms companies, alcohol firms or tobacco companies. The Sharia principles that govern the account also mean [...]
An ethical banking expert claimed this week that the mainstream banking sector has failed to show sufficient remorse for its role in the financial crisis. Charles Middleton, chief executive of the UK branch of ethical bank Triodos, said bank leaders have yet to take responsibility for their wrongdoings. Speaking ahead of a conference on ethical [...]
Ethical bank Triodos increased its lending in the UK by nearly one third in the first half of this year. Current lending by the bank rose to £223 million, with a further £82 million in loan commitments that have yet to be drawn down. This £305 million total represents an overall lending increase of 29% [...]
The Co-operative Financial Services (CFS) plans to build on its credentials as a “principled” and “ethical” organisation, chief executive Neville Richardson said today as he announced the firm’s first half-year results. “We are at the start of creating something quite special within UK financial services, a business which is member-owned, customer-led and ethically guided,” Richardson [...]
Ethical banking is proving a popular choice for British savers, with record numbers signing up for accounts at the Co-operative. The bank this week revealed that 123% more people have signed up for its current account this year compared to last year. Customers are coming to the Co-operative, which has an ethical screening policy on [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
