Unity Trust Bank was born out of the simple idea that trade unions wanted a different type of bank – a bank that was concerned with the creation of the common good. Bringing together the values of trade unions and the management expertise of The Co-Operative Bank, Unity Trust Limited – as we were then known – was launched on the 1st May 1984.
- 1984 – Our first mission was to make prudent, profitable commercial lending in the UK thereby supporting jobs, industries and the British economy.
- The first few years were spent developing banking facilities for our Trade Union shareholders and providing additional services specifically to benefit Trade Unions and their members through a number of subsidiary businesses
- During the 90s we increased our focus on the social economy, as society became increasingly concerned with fighting social and financial exclusion, which Unity supported by tailoring its products and services towards social organisations.
- At the start of the new millennium Unity continued to innovate with the introduction of an Internet Banking Service, the first of its kind for non-personal banking.
- In 2012, we committed to a new ‘double-bottom line’ strategy which saw us refocus our approach solely on the social economy, trade unions and wider civil society sectors, at the same time withdrew from providing services to purely commercial organisations that create no social benefit.
- In December 2015 we became a fully independent bank, after buying back 20 per cent of the Co-operatives controlling interest
- Today Unity remains true to its founding principles and is ambitious to provide sustainable banking services to more organisation that aim to create community, social or environmental value.
Our founding statements are: