Ethical Banks with Record Lending Levels

According to the recent figures, Charity Bank and Triodos Bank, the loan providers of ethical organizations and charities, are doing fine and have good chances of a record year of lending.

During the first half of the year, Charity bank gave out £20.9 million of loans, whereas its total for the whole 2009 amounted to only £22.9 million.

In the meantime, Triodes’ result for the first half of the current year is as much as £34.0 million, whereas its lending figure for the whole year 2009 constituted £41 million.

Malcolm Hayday, CEO of Charity Bank, commented that the boost in lending was the result of the problems with raising money by charities and social organizations.
He said that some of the ethical enterprises became their customers because their funding was terminated. In addition, Hayday assured that Charity Bank would go on providing ethical organizations and charities with loans.

Tracy Axten announced on behalf of Triodos that this bank would also continue supporting its customers despite numerous reductions in public sector spending.



The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.