Make money and make a difference… - Ethical - News - Moneyfacts

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Make money and make a difference…

Make money and make a difference…

Category: Ethical

Updated: 09/11/2011
First Published: 09/11/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Savers who not only want to make money but also make a difference to the world in which we live have been told there are products out there which can help appease their conscience.

Recent environmental and humanitarian events around the globe will have seen more people taking an interest in how and where their finances are invested, according to Moneyfacts.co.uk.

With many people keen to support causes they feel strongly about, particularly during the festive season when thoughts often turn to charity and helping those less fortunate, charity accounts are an ideal option.

Offered mostly by local providers, charity savings accounts allow investors to support their chosen charity by donating a small percentage of their balance each year.

For example, if 10,000 savers had a balance of £2,000 and the account paid 1% of the balance, the charity would receive an annual donation of £200,000.

"Charity accounts are a great way to support your intended charity," said Louise Holmes, spokesperson at Moneyfacts.co.uk.

"A good example is the Poppy Bond from Coventry Building Society. This account pays a decent rate of 3.55%, whilst a 0.05% donation is made to the Royal British Legion's Poppy Appeal."

Meanwhile, investors who are concerned about how and where their money is invested can choose from a variety of ethical and sustainable finance products.

Ethical providers avoid lending money to companies which they believe have unethical practices, such as those which harm the environment.

"Heightened awareness of the environmental and social problems affecting the world has seen growing numbers of people looking at ethical mortgages, savings and investment products," added Louise Holmes.

"Ethical and green providers use customers' money to invest in businesses and projects that support environmental, cultural and social issues.

"There are some decent deals available at present, such as the Five Year Ethical Savings Bond from Triodos Bank, which pays a rate of 3.75%."

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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