While ethics is not core to the mission of Virgin Money, it did set up the Virgin Money Foundation in August 2015 and the company says it is committed to helping your money “do some good in the world”.
The foundation, part of the deal when the bank took over the ill-fated Northern Rock, is currently helping social enterprises in the North East before being rolled out across the country.
Virgin says: “We want to use our expertise to do some good in the world – through helping charities, communities and the environment.”
We like Virgin Money for recognising the need to do some good, but are looking forward to seeing how this commitment – largely words at the moment – plays out in practice.
If Virgin is true to its word, it could become a serious player in ethical money.