Savers put their money on green
Monday 12 September 2005
Ecology has a record month for savings inflow
Ecology Building Society is delighted to announce that a record savings inflow in excess of £1.1 million has been achieved in August. This is another strong indication that more and more people are choosing the ethical option. The Ecology is a building society with a difference, offering only green savings accounts and mortgages for the environment conscious customer. Chief Executive Paul Ellis comments: "This is a particularly pleasing result for a small specialist Society, which strives to maximise its commitment to mutuality. It continues our trend for a strong retail inflow and as a result we do not have to resort to buying in wholesale money, so all of our lending is funded by our saving members."
The Ecology's most popular accounts, which attracted the largest investments in August, were the Earthwise Mini Cash ISA, the Eco-60 account, a 60 day notice account offering tiered rates of interest and the Eco-Instant account, similar to the Eco-60 but with instant access. Other accounts such as the Ordinary Share account and the Corporate and Charity accounts, available to companies and charity groups, also had high levels of inflow. Members' savings are used to fund Ecology's unique mortgages, which are available for properties in need of renovation or conversion, and well as new ecologically built homes. The Society specialises in lending on properties that benefit the environment, this may be recycling an existing derelict property by renovating it and bringing it back in to use, or building a new highly energy efficient home from reclaimed and sustainable materials. The Ecology's new eco-Headquarters in Silsden, West Yorkshire, showcase the Society's ecological principles and commitment to protecting the environment through sustainable building.
For further details on Ecology savings and mortgages visit www.ecology.co.uk or call 0845 674 5566.
