Unity Trust Bank, an ethical business bank, is the latest responsible finance company to be awarded the Good Egg mark from Good With Money.
The mark is the only accreditation in the UK designed to make it easier for consumers to find financial providers that use finance to benefit people and planet, as well as offering a good deal for their pockets.
Making sustainable financial planning the default
Unity Trust Bank is not your typical business bank: it believes making a positive impact to be of equal importance to making a profit.
Founded by the Co-op Bank and trade unions in 1984, and now fully independent, Unity helps organisations in the UK to prosper while creating measurable economic, social and environmental change.
Joshua Meek, the bank’s Chief Impact Officer, said: “We’re delighted to be awarded the Good Egg mark, which reflects Unity’s 40-year heritage of delivering positive impact – not only for our customers, staff and stakeholders, but for wider benefits to society and the environment.
“Delivering positive outcomes for people and planet is a core part of our ‘double bottom line’ of achieving sustainable returns and delivering benefits to society. Customers who bank with us can have confidence that their deposits are helping to deliver social good.”
Unity joins eight other Good Egg companies. These are: Switchfoot Wealth, PensionBee, Triodos Bank, Ecology Building Society, EQ Investors, Thrive Renewables, Path Financial and Bluesphere Wealth.
Last year, Unity held customer balances of £1.7 billion, up 10 per cent from 2023. More than half (50.5 per cent) of lending was committed to areas of high deprivation (up from 45.3 per cent), helping to support organisations that are making a real difference to communities and individuals most in need.
Unity assesses every loan proposal against the United Nation’s Sustainable Development Goals (SDGs), to ensure the bank’s financing has demonstrable impact. In 2024, its lending helped to create or protect 3,194 jobs, and support 1,798 care beds; 1,806 day care spaces; 216 education spaces; and 1,109 affordable homes.
Highly commended
The Good Egg screening report commends Unity for:
- Committing £263.8 million to 162 organisations across the UK in 2023.
- A third of its loans going directly to organisations that solely or mostly serve disadvantaged people.
- Its strong commitment to relationship-based banking.
- Launching a specialist Union Helpline that offers tailored support for all union customers.
- Not funding industries that have a significant measured impact towards climate change.
What’s in a Good Egg?
The Good Egg mark is based on how well a provider measures up against a range of different environmental, social and industry impact factors, taking into account the size and history of the firm and its performance. Ethical Screening produces a report on each provider applying for the mark. Not all companies applying for a Good Egg will be granted one.
A panel of ethical finance experts then provides a further level of rigour before the Good Egg is awarded. The advisory panel includes John Fleetwood, sustainable investing consultant; Huw Davies, senior finance adviser at Make My Money Matter; Fionn Travers Smith, ex-Move Your Money campaigner, financial inclusion manager at Phoenix Group, and Charlene Cranny, sustainable finance expert at Economy of Good and ex-director at Good Money Week.
Lisa Stanley, co-founder of Good With Money, said: “Unity Trust bank has joined a select group of financial services companies that are able to prove they make a positive impact. This is not only by improving the lives of customers, but by benefiting society and the environment, too.
“It’s great to see a business bank like Unity with such a strong social conscience go from strength to strength in the UK. Look for a Good Egg if you want to align your money with your morals and use companies that are doing the right thing.”
