Well it’s taken nearly the whole challenge, but I’ve finally opened a new bank account and am just awaiting approval before I can start using it. I have chosen to switch to Triodos, as I thought I probably would (and as Alf kindly recommended :))
Lots of reasons for choosing this bank – its HQ is in Bristol, so very local; it is really transparent about what it does and does not invest in (fossil fuels, weapons, tobacco); and its ethos is around a much more integrated ‘bottom line’ – looking at the impact of banking on society and sustainability rather than purely measuring risk and return, financial performance or how to maximize returns to stakeholders. There is a flat £3 month fee for a current account, but an explanation of why this is and how Triodos avoids other hidden costs on the web site.
It feels exciting to make this change after thinking about it for a long time. So while I wait for my application to be approved, I’m off to write an ‘I’m breaking up with you’ letter to my current bank, will share that here next week if anyone else wants to borrow it too! 😊
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Alf Coles commented on Day 25: Making the switch! 3 years agoThis feels a really significant change Alison! Congratulations on pushing through with your conviction ... I wonder who our University banks with?! Anyone know? Respond
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cCHANGE Team commented on Day 25: Making the switch! 3 years agoHi Alison, Yes, as Alf says, this does feel really significant. It's wonderful that this challenge has given you the space to focus on this, reflect, and make the shift. And I love that you will write a breaking up letter to your old bank. The focus on finance, sustainability and justice seems to be growing exponentially at the moment. If customers, regulators, and other financial organizations put the pressure on in a range of ways as they are doing more and more now, perhaps we will begin to see significant tipping points soon and more money flowing in a more sustainable and equitable direction. And your actions and letter will have contributed to that. I really acknowledge your commitment to integrity. It would be interesting to see where the university banks. I came across this article from February 2020, where they say they were supporting the divest campaign and calling on the Universities Superannuation Scheme to do the same: https://www.bristol.ac.uk/news/2020/february/fossil-fuels-divestment-.html Enjoy the weekend, best, Leonie Respond
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cCHANGE Team commented on Day 25: Making the switch! 3 years ago
Hi Alison, Only two more days to go! It has been wonderful to follow your journey and the reflections and changes you have made. Following our coaching post on Sudnday, do you think your challenge has created any ripple effects around you? Did you tell others what you were doing? It would be wonderful if you could post a final reflection, if you have time in the next few days. I want to acknowledge your commitment, perserverance, and integrity during the challenge and it has been wonderful following you! Hope to see you at the wrap up on Friday. Warm wishes, Leonie Respond
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Alison Oldfield commented on Day 25: Making the switch! 3 years agoThanks Alf - a good question! An April challenge for us! :) Respond
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