Published: May 18, 2015
Unity Trust Bank has come first in all but one category in this year’s Charity Finance 2015 banking survey. Charity customers of banks including Unity, Triodos Bank, The Co-operative Bank, RBS, Nat West, Barclays, CAF Bank, HSBC, Lloyds and more took part in a questionnaire to rate how well their bank performs in a number of areas.
Unity came first in eight of the nine customer satisfaction categories including commitment to CSR, sector knowledge, availability of finance, relationship managers, branch services, telephone services, internet services and fees and charges.
Peter Kelly, director of business development and marketing at Unity Trust Bank, said: “Unity is passionate about providing its customers with the best possible service and we are overwhelmed that they rate our service and our people so highly. We are a different kind of bank. Social impact is as important to us as sustainable returns and increasingly we are finding that customers are choosing Unity because these values are instrumental in their choice of bank.”
While the main high street banks dominate the large charity segment (income over £20m), 43% of charities from the survey sample have an annual income of under £1m, a majority of which bank with Unity, highlighting the increasing competition within the banking sector from challenger banks.
Ethical finance providers like Unity show that transparency and responsible business practices are key to providing viable alternative finance to the main high street banks.
Supporting this trend and indeed Unity’s wider business aims, 58% of charities surveyed feel that a bank’s ethical and socially responsible approach is important and that it would increase their charitable impact in the eyes of supporters and trustees.
Peter Kelly continued: “As high street banks continue to demerge and restructure, Unity remains focused in its aim to become the go-to bank for organisations committed to community, social or environmental benefit.”