Money Makes Change: Banking

Billions of pounds move between bank accounts every single day.
What do you know about the ethics of your bank?

Faith and banking

God is concerned with how we use money. We are called to do good with our finances (1 Timothy 6:17-19), to love our neighbours and care for creation.

The money that we put into a bank helps it to do its work. That’s why increasing numbers of people want to ensure that their bank will use the money in a way that reflects their values.

What’s the problem?

Many of the UK’s big banks lend to or invest in companies connected to nuclear weapons, fossil fuels, gambling and tax avoidance. What kind of world are our banks shaping? 

There are other ethical issues too. What is your bank doing to tackle financial exclusion or tax avoidance? Banks could help make society fairer.   

Banking on a better world

Big banks have a lot of power. But we have power too. We can all speak up for a financial sector that works for the common good.  

There are banks that are good news for people and planet. As Christians we can champion these, and support ethical alternatives, like credit unions.

What can I do?

Learn more about the banking system

Banks could play a key role in tackling inequality and the climate crisis but many are involved in financing or investing in companies and projects that harm people and planet. 

Things need to change. Read our short guide to fairer, greener banking.

Who owns the banks? Watch this short video that explains the differences between banks, building societies and credit unions

Take a look at the banking-related resources at the bottom of this page.

Take action

Do you bank with one of the UK’s big banks? Explore Bank.Track data to dig deeper into what your bank might be doing with your money.

If you are concerned about the ethics of your current bank you could engage with them (using the suggested questions in this guide) or switch to a more ethical bank.

These tools and resources may help you identify a bank that is more aligned with your values:

Looking for an ethical bank for your church? Explore our analysis of five of the more ethical bank accounts for churches.

Have you recently switched bank or engaged with your bank? Get in touch and share your #MoneyMakesChange story with us. 

Contact your bank

Don't Bank on Plastics

Banks are financing the plastic crisis. Email your bank and ask them to play their part in tackling plastic pollution.

Reflect and pray

Jesus taught frequently on the topic of money. How does our faith shape our engagement with banks? Download this article about ethical banking – share it with your church and start a conversation. 
 

Explore your motivation for choosing your current bank. What do you know about the way your bank behaves? 

Creator God, guide us to act justly with the resources entrusted to us. Strengthen the movement for fairer, greener banking and show us where and how to speak out for the common good. Amen

Share with others

I'm thinking about the ethics of my bank. Are you? Check out the #MoneyMakesChange resources for individuals and churches.

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