Ecology Building Society just became the first savings and mortgages provider to be accredited with the Fair Tax Mark.
It has become the first building society in the UK to be awarded the Fair Tax Mark by the campaign for businesses to adopt a more responsible attitude to tax.
The Fair Tax Mark is the world’s first independent accreditation scheme to address the issue of responsible tax. It is awarded following a review of a company’s tax reporting. The accreditation focuses on both the content and transparency of the reporting policy in addition to the taxation statements a company makes, as well as the actual amount of tax paid.
Among those already accredited are SSE, the utilities supplier, Unity Trust Bank, the Co-operative Group, Marshalls and the Phone Co-op.
Ecology offers a range of simple, transparent, ethical savings accounts that fund mortgages for properties and projects which support individuals and communities to adopt environmental building practices, improve the energy efficiency of the UK’s building stock and live or work in a way that promotes a sustainable economy.
Paul Ellis, chief executive of Ecology, said: “We’re delighted to be the first Fair Tax accredited firm to offer personal savings accounts and mortgages, which now means that ethically minded customers can place their savings or apply for a mortgage with an organisation that pursues responsible tax behaviour.
“We believe that the fair payment of tax is an important part of our contribution to society and helps reduce inequalities which have an environmental cost. This plays a vital role in helping to deliver our mission to build a greener society.
“While tax remains a controversial area for many, we are proud to be the first building society to be awarded the Fair Tax Mark, which sets a benchmark for responsible tax behaviour.”
Fair Tax Mark accredited Ecology Building Society’s range of ethical, personal savings accounts include their Instant Access, 90-day notice and a Regular Savings accounts. Accounts are opened and operated via the post and some accounts can also be operated online.
Fair Tax Mark is a community benefit society and is a joint venture between the Ethical Consumer Research Association, Tax Research UK and Up the Ethics. Its work is supported by private and business shareholders.