Unity Trust Bank has become the latest organisation to join the Banking Standards Board.
The board is an independent body that aims to challenge and offer support to member banks and building societies to raise standards of behaviour and competence within the banking industry. It was established in 2015 and made open to all banks and building societies at the start of 2016. It is voluntary to join and financial institutions are under no obligation to become members.
But Unity Trust – the specialist bank for organisations seeking to create community, social or environmental benefit – has signed up.
Darrin Nightingale, director of customer propositions and corporate affairs at Unity Trust, said: “Unity Trust Bank has always set high standards and believes firmly in the importance of ensuring those standards reflect in everything we do. Joining the Banking Standards Board allows us to further cement our commitment to the values and best practices of the organisation.
“By joining the BSB, we are aligning ourselves with an impressive set of like-minded firms who share our goals of consistent improvement and meeting the high standards that customers expect.”
Unity Trust was founded in 1984 and works with socially motivated businesses in health, housing and education as well as co-ops, social enterprises, trade unions and charities. Over 20,000 organisations bank with Unity Trust.
In January, Unity Trust gained independence from the Co-operative Bank after buying back the majority of the Bank’s shares in Unity. It has also been accredited as a Living Wage employer and been awarded the Fair Tax Mark.
BSB Chief Executive, Alison Cottrell, said: “All banks and building societies that join the Banking Standards Board are making a positive statement about their willingness to work, individually and collectively, to raise standards of behaviour and competence across the sector.
“We are pleased to welcome Unity Trust as a member of the BSB and as part of this important initiative.”