Consumers urged to consider ethical options this ISA season

Despite a stretch on consumer finances and continued low interest rates, research from ethical bank Triodos shows that Brits are still saving and giving to good causes where they can. While four out of five UK adults (80%) give money to charity throughout the year, a typical Brit puts nine times more into savings than they donate to charity.

On average, survey respondents estimated they put £1,812 into savings each year compared to the £192 donated to charity.  Triodos is urging savers to consider the positive difference their savings could make while earning them interest in an ethical ISA.

Triodos Bank offers a 2.01% AER Online Cash ISA which allows people to use their savings to support worthwhile causes whilst still benefiting from competitive rates.  The online cash ISA allows customers to make the most of the opportunity to earn interest tax-free and customers will know their money is being used to benefit the environment and society.

Huw Davies, Head of Personal Banking at Triodos Bank, said: "Times are tough at the moment so it is completely understandable, and sensible, that people are prioritising saving for the future. At Triodos, we believe everyone should have the chance to save ethically and use their money to make a positive difference while it earns interest. Using an ethical bank such as Triodos Bank means that you can actively benefit worthwhile causes while still getting a competitive rate on your savings.

"We'd encourage people to consider this option when looking at their ISA savings at this time of year. Triodos Bank aims to bring people's interest back to banking, to learn about where their money goes and to understand that there are banks which aim to help improve the environment and society." 

Triodos Bank is actively educating its customers on where their money goes using the website knowwhereyourmoneygoes.co.uk which pinpoints all of the projects that Triodos supports such as the PV installation at Glastonbury's Worthy Farm, Hugh Fearnley-Whittingstall's businesses or Mulberry-fashion founder Roger Saul's business. Triodos Bank only invests in projects that are socially, environmentally or culturally beneficial.

In contrast to the opacity of more mainstream banks, Triodos publishes to its customers exactly how savings on deposit are being used.  Triodos Bank is on a mission to reignite people's interest in finances and to show them that not only is it good to save for personal reasons but that their savings can go so much further to help sustainable and environmentally friendly ventures throughout the country.