We are an enduring ethical bank that exists to enable positive social impact
ownership structure
The bank is solely owned by the Salvation Army International Trustee Company. Up to 75% of their profits are donated to The Salvation Army International (a Protestant Church and international charity) with over £8 million donated to The Salvation Army in the UK and internationally in the last 15 years. This money supports The Salvation Army’s evangelical and charity work abroad.
profit reinvestment
Majority of profits donated to the Salvation Army
customers
Individuals (restricted to savings)
Businesses
Charities
trustpilot
2.5/5 based on 6 reviews
services provided
ethical credentials
charity work
The majority of the bank’s profits are donated to the Salvation Army. Aside from this, the bank prioritises lending to organisations supporting positive social impact in the UK and are keen to support social purpose organisations that may be overlooked by mainstream banks. Their lending policies are aligned with the United Nation’s Sustainable Development Goals and they have explicit exclusion criteria for customers.
policies
Their 2024 Ethical Policy outlines their positive commitments and exclusion criteria. They adopt their ethical position based on the Salvation Army principles and have also adopted the United Nation’s Sustainable Development Goals. Their exclusion criteria address customer activities which do not align with their values such as:
- Negative impact on people – e.g.) tobacco, weapons, conflict materials, gambling, pornography, human rights violations
- Negative impact on the planet – e.g.) fossil fuels, animal testing, factory farming, deforestation
- Negative ethics – e.g.) tax evasion, poor accounting practices, corruption
controversies
The Salvation Army, where the majority of the bank’s profits are donated, has a history of LGBTQ+ discrimination with the UK organisation actively opposing the repeal of anti-gay legislation Section 28 in the 2000s and more recent cases of discrimination against trans people in its centres. The UK branch has also been accused of acting as a “rogue landlord” ignoring serious hazards in its properties.