Great article in the Guardian today saying that ethical banking is on the rise at the moment, as people have lost faith in the high street banks. The Co-operative, Brittannia, and smaller ethical companies like Triodos and the Ecology Building Society are all seeing a rise in interest.
So to are credit unions, and if the government creates its Post Office bank, we will have a very different financial landscape.
This is creating greater diversity in the banking sector, and this is much healthier – if one part fails, the system can absorb the shock. Just like farming, a monoculture raises the stakes to all or nothing.
“Perhaps, then” says the article, “we’re seeing the introduction of a bit of healthy monetary permaculture in the financial system.”
- If you haven’t moved your money to an ethical bank yet, here are some suggestions.
