News

Thursday 9 August 2012

Five years since the credit crunch: a new future for finance?

Today is widely regarded as five years since the start of the global financial crisis and economies across the world are still suffering the consequences. As public outcry at the behaviour of the big banks continues – fuelled by fresh revelations including the LIBOR scandal – ethical institutions such as Ecology have told a very different story.

Since 2007, we’ve seen sustained growth in our assets, with both mortgage lending and savings deposits reaching record highs. In 2011, our 30th anniversary year, we passed the £100m asset milestone for the first time, and saw savings inflow double our expectations. More and more people have joined our community of members, all using their money to build a greener and fairer future.

Could this be the start of a new direction in finance? Our Chief Executive, Paul Ellis, has called for wholesale reform of the financial system to put responsibility and ethics at the centre of its work – a call which has been echoed by the thousands of ordinary people moving their money to ethical institutions. From local activists to high profile commentators, the public conversation is building, and we want to make the most of it.

Ecology has exciting plans for the next five years. We want to make even more of an impact in the areas we care about: sustainable mortgages, affordable housing, ethical saving and mutual values. If you’re already a member, thank you for playing your part. And if you’re not yet a member – why not join our movement for change? 

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