Over the many years that I have been banking with Triodos Bank, there has never been an incident that made me lose my trust in them. I have held a TESSA (in the days when they existed), an ISA, savings accounts and investments. This is the only bank that is 100% transparent in how our money is used. Their investments are only in ethical, environmentally friendly and socially beneficial projects. For example, from the very beginning of genetically engineered (or genetically modified, GM) crops, the Bank has let the bandwagon go by and firmly refused to undertake any support of this technology -- a stance now supported by overwhelming evidence from farmers and independent scientists and medical doctors, despite claims by the industry. So I bank with Triodos because it supports the enterprises that are good for people and the planet and avoids investing in projects that are detrimental.
Do Triodos Bank's executives take bonuses? This question was raised during an AGM I attended a few years ago. The Managing Director said "Yes". Later, during the discussion of finances, he elaborated. The Bank had done well, and the management felt that they deserved a bonus. They decided on £300 (that's not £300,000!) and everyone who works at the Bank got that bonus.
The stability of Triodos Bank was clearly illustrated during the crisis of 2008. While many other banks were collapsing and some were being propped up by the government, Triodos sailed by unperturbed. They had made no dodgy investments and were therefore immune to the banking chaos. The only, and tangential, repercussion was on exchange rates between the UK and some other countries.
Surely there must be something I do not like about Triodos Bank? All right, yes, there is one thing: it's the new style (although a few years old now) of the Bank's magazine, 'The Colour of Money'. The cover pictures are usually especially dreadful.
My rating of the Bank: 100% (unless I take a point off for the magazine format!)
8 years ago
Triodos Bank UK has a
3.7
average rating
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100
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