Ethical banking and your organisation

You’re all over ethical practices in your organisation, right?

You’re in the business of making sure that everyone has a place to call home after all.

But have you thought about the ethics of the businesses you deal with? Do those suppliers and partners have the same morals as you, and are you comfortable with that association? After all, it’s not a giant leap for a sponsor to question your integrity if they are concerned about the ethics of the businesses you align with.

For example, what sort of message does it send if a housing provider aligns with an employment organisation that consistently looks to them for labourers for cheap pay?

And in an era where ethical banking is slowly becoming understood, do you know if your bank’s investments or lending principles match your organisation’s principles?

Ethical Banks

Ethical banks and institutions strive to do business in line with their beliefs and without causing harm. Some will only lend to industries that advance social and environmental causes, meaning things like firearms, tobacco, fossil fuels and live animal exports are strictly off-limits. Does your bank subscribe to this?

At Beyond Bank, we’re committed to using our business as a force for good by balancing profit and purpose, which is why we are Australia’s first B Corp certified bank.

We measure our impact across five stakeholder groups: our people, customers, community, environment and governance. Plus, we’ve signed up to SDG (sustainable development goals) Action Manager, a global call to action to transform our world.

But what does this mean to community organisations who still need their money to perform well. Being ethical doesn’t negate the need to achieve a position of financial strength and diversified growth, develop responsive and agile processes, and stay focussed on the financial wellbeing of customers and communities.

Transparency

Ethical banks are transparent about their purpose, beliefs, practices and policies. By choosing a customer-owned bank, community organisations can be sure that profits are reinvested back into the business to benefit customers through better products and services.

At Beyond Bank, we speak the language of community; it’s in our DNA. That’s why we focus on being the best bank for the community and offer banking services and payment solutions for community organisations and not for profits, fundraising opportunities and salary packaging. We partner with like-minded organisations, because when they thrive, the community does too.

We’ve identified housing affordability as a key pillar of our community commitment. Through the First Home Loan Deposit Scheme and partnerships with frontline housing affordability providers across local communities, we’re helping to deliver solid, grassroots support directly to those who need it.

This is how we operate and what our customers expect from us. It’s what ethical banking means to us. What does it mean to you and your banking partner?

Look carefully at your associations with others, not just your bank and investments. Make it your business to learn about their ethics. Positively influence where you can. Look for alternatives where things just aren’t sitting comfortably with you.

Contact

Contact Lisa Jackson, Community Development Manager via email here or visit Beyond Bank here.

Homelessness Week | #HW2021

Shelter WA and the WA Alliance to End Homelessness thank Beyond Bank for sponsoring Homelessness Week 2021. View a list of events here.