What we do
We're working towards a greener society through:
Sustainable mortgages
Our lending decisions are based on the environmental and social impact of projects, including energy use, pollution, saving resources and supporting sustainable communities. This often means we'll consider new or less conventional ideas – every project is assessed individually.
The properties we lend on include:
- Ecological new builds - building a new property using sustainable materials, including properties built to recognised ecological standards such as Passivhaus and Code for Sustainable Homes
- Energy saving improvements - installing energy saving measures or renewable technologies
- Renovation - renovating a derelict or run down property (a form of recycling)
- Conversion - converting a disused or redundant building
- Live/work units
- Properties built using sustainable, local or traditional methods such as straw bale, rammed earth and timber constructions.
We also support sustainable lifestyles and economic activity, including ecological and community businesses, co-operative living and organic farming.
Where we can support a project, we'll do everything we can to help that project succeed, from flexible mortgage features to personal, helpful, customer service.
By offering C-Change discounts linked to energy saving measures in a property, we encourage our borrowing members to reduce the carbon footprint of their homes. And through our regular newsletter we share new developments in the ecological building community and encourage members to support each other.
Our principles mean that there are also some things we won't lend on, including holiday homes (because of the impact on rural communities) or projects involving intensive agricultural practices.
We take a responsible and fair approach in the service we provide to our borrowing members, and we ensure that the Financial Services Authority 'Treating Customers Fairly' principles are central to the way we deal with you. This means that:
- We don't require any unnecessary life insurance cover
- All mortgage products are available to new and existing customers
- We don't use short term discounts to attract new customers, and we don't use interest rates for existing members to subsidise the rates for new customers
- We will treat you as an individual and provide you with clear, jargon free information
- We will deal with any complaints promptly and fairly.
Ethical savings
When you save with us, you know that your money is being invested to support a sustainable future.
We offer simple, transparent accounts, and we only use your savings to lend on properties and projects that respect the environment and support sustainable living. We keep you informed about how we're using your savings in our regular newsletters and our annual report.
Where we have to place money with another institution (to manage transactions and meet regulatory capital requirements) we avoid banks that have a record of irresponsible lending that impacts on the environment.
Ethical saving isn't just about how your money is used: it's about how we treat you as a member. We operate a commitment to fairness in the service we provide to members, and ensure that the Financial Services Authority 'Treating Customers Fairly' principles are central to the way we deal with you. This means that:
- We don't charge for the ordinary operation of a savings account
- All savings products are available to new and existing eligible customers
- We operate a minimum savings rate of 1.00% gross and pay interest on all balances
- We don't wait for a cheque to clear before accruing interest – in fact, we pay interest on all funds on the day of receipt
- We will treat you as an individual and provide you with clear, jargon free information
- We will deal with any complaints promptly and fairly.
Affordable housing
We actively support sustainable local economies through our lending on shared ownership, housing association and housing co-operative properties, and through our commercial mortgages for ecological and community businesses.
Our business development team has extensive experience of working with co-operative and commercial projects, and through our newsletter and members' network we're developing a community of organisations working for a more sustainable future.
Our C-Change discounts aim to make energy saving properties and improvements more affordable – helping homeowners to save money on their fuel bills as well as their carbon emissions.
Mutual values
Ecology started as, and remains, a group of people committed to building a more sustainable future. Through our newsletter, annual meetings and customer service, we aim to keep members involved in all aspects of our work. We encourage lively debate around our aims and our policies, and we encourage contact with our staff at all levels of the organisation.
Throughout our history, our members have challenged and supported us on to many new developments, such as setting up our Charitable Foundation. Some of our members even volunteered to build our straw bale meeting room!
We reflect our commitment to equality in our salary structures: no member of staff can be paid more than five times the lowest full-time salary paid.