Latest News 2017 old

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2nd March 2017 – Co-operative news :
Report reveals how credit unions are helping members save as they borrow…..read more
March 2017 – Retail Banker International :
Douglas Blakey takes a look at the findings and reports on the sector’s efforts…read article
27th February 2017 – Scottish Parliament Motion Lodged:
“That the Parliament notes the report published by the Fairbanking Foundation, Save as you borrow – credit unions creating good habits, which investigated how credit unions enable members to develop a long-term savings habit; understands that the analysis in the report is based on a survey conducted with 1,272 members of seven credit unions, including 1st Alliance Ayrshire Credit Union; welcomes the findings of the research that 67% of borrowers within the survey who had no savings when taking out a loan now plan on saving regularly as a result of using a credit union Save As You Borrow (SAYB) product…..”
That the Parliament notes the report published by the Fairbanking Foundation, Save as you borrow – credit unions creating good habits, which investigated how credit unions enable members to develop a long-term savings habit; understands that the analysis in the report is based on a survey conducted with 1,272 members of seven credit unions, including 1st Alliance Ayrshire Credit Union; welcomes the findings of the research that 67% of borrowers within the survey who had no savings when taking out a loan now plan on saving regularly as a result of using a credit union Save As You Borrow (SAYB) product which encourages credit union members to put an amount, approximately 10% of the payment, into a savings account as part of making a loan repayment; further welcomes that, while only 26% of respondents reported as saving regularly before taking out their credit union loan, 71% said that they would continue to save regularly throughout the year after paying back the loan, and that an overwhelming 97% of respondents stated that they found the SAYB approach from credit unions helpful in encouraging them to save; considers that this report underlines the positive and important role played by the 103 credit unions across Scotland in encouraging healthy and sustainable banking, supporting community empowerment and individual entrepreneurship, and tackling poverty and debt, and wishes the credit union sector every success for future strength and growth.
22nd February 2017 Press Release
A new report finds overwhelming evidence that Save As You Borrow (SAYB) schemes by credit unions prove successful in turning people into habitual savers. Research by the Fairbanking Foundation carried out by Ipsos MORI shows that 67% of SAYB users who had no savings, and found it impossible to put money aside, now have plans to save regularly throughout the year as a result of using a Save As You Borrow product.
.….read more
20th February 2017 Jazz FM

Listen to the interview with Antony Elliott…
15th February 2017 Press Release
– Industry-wide report illustrates changing attitudes to customer needs through fintech adoption
– Fintech challenger U Account and Clydesdale’s B Account rated as top current accounts
– Increase of over 50% in ratings for current and savings accounts since 2013
– Despite widespread improvements, credit card issuers proved slower to embrace opportunities to improve financial well-being
.….read more
10th May 2016 Press Release
Employee-focused credit unions receive Fairbanking Mark for the first time. Higher interest loan products offering product features which enable customers to better manage their money….….read more
17th November 2015 Press Release & Coverage
29% of people who took out best buy credit cards for spending or balance transfer ended up with more debt….read more
Beware that ‘interest-free’ credit card: Banks fail to warn borrowers of when deal ends and sky-high rates kick in.…read more

52% sting in “interest free”credit card deals…read more
Fairbanking Foundation grows Mark certification scheme encouraging organisations to improve financial well-being
Eight new providers approved as scheme expands to cover loans and credit cards
Research shows 25% of bank customers believe retail banking has improved its image in the past year
But there is still work to be done as 38% of customers say the image of banks has deteriorated with a third blaming lack of transparency and failing to focus on customer needs….read more
Research from the Fairbanking Foundation has revealed that 29 per cent of people who chose zero per cent credit card deals in the last five years ended up with more debt at the end of the term. ….read more
Nearly 1 in 3 who get zero percent balance transfer or spending credit cards end up in more debt, why banks do them!….read more
Financial heartbreak: Credit card teasers can end in tears, one in three people who takes out these popular cards ends up with more debt as a result, according to new research…..read more or press cutting
Shop now and pay no interest for two years….but make sure you pay it all back…..read more
Pay no interest on your Christmas shopping for two years:…BUT SURE YOU PAY IT ALL BACK!
A third of credit card holders taking out balance transfers or 0 per cent deals end up borrowing more at the end of the term…..read more
Fairbanking Foundation grows Mark certification scheme encouraging organisations to improve financial well-being…..read more
Fairness in the UK retail banking sector…..read more
21st October 2015 Press Release & Coverage
Fairbanking Foundation grows Mark certification scheme encouraging organisations to improve financial well-being with eight new providers approved as scheme expands to cover loans and credit cards
….read more
Financial firms praised for helping customers manage their money….read more
Fairbanking Foundation grows Mark certification scheme encouraging organisations to improve financial well-being…..read more
Fairness in the UK retail banking sector…..read more
Millions fail to switch money when introductory interest rates expire, leaving many receiving next to nothing….read more
Seeing stars
After nearly a year, and 80 pages, of painstaking research, the Competition and Markets Authority has concluded that bank customers need help choosing the best account. This appears to be news to the report’s authors. If only they had been at the Guildhall this week to see the independent Fairbanking charity award star ratings to 19 banking products that “promote financial wellbeing”. As the foundation suggests, “How about trying to get everyone to improve” — rather than endlessly investigating the problem?
matthew.vincent@ft.com
3.78 million savers had failed to move their money once a bonus deal had ended…read more
Wake up and smell the cash…read more
14th September 2015 Press Release & Coverage
Our new research reveals that over the past five years, 45% of adults claim they have suffered from health conditions caused by having money problems.
….read more
Millions ‘are falling ill with strain of debts’….read more
Money worries causing stress and depression ….read more
Nearly half of UK adults say money problems cause poor health….read more
30th June 2015 Press Release & Coverage
Archbishop of Canterbury uses the announcement to urge more people to consider joining their local credit unions
Central Liverpool Credit Union, London Capital Credit Union and the Enterprise Credit Union have all received 5 stars for their personal loan products….read more
Welby praises credit unions as regulators get tough ….read more
Archbishop gives credit where credit is due….read more
Historic Press Releases & Coverage
The Fairbanking Mark Challenge launches today to get 15 new products improved and certified by 2015….read more
Latest Fairbanking Ratings report shows banking providers making significant improvement to how well some products help customers….read more
“RBS account gets Fairbanking award” by: Jonathan Eley
The Fairbanking Foundation has bestowed its first-ever five-star award on a hight street savings product ….read more
“First five star score for RBS and Nattiest” by: Michael Bird
A survey of financial wellbeing released today has given the first five star rating to a bank’s product since it began in 2010….read more
“Royal Bank of Scotland savings accounts awarded five-star rating” by: Simon Ward
The first ever five-star accreditation mark for helping to improve financial well-being….read more
“New blow for Co-op as the ethical bank is panned in nationwide saving product review” by: Steve Hawkes
Royal Bank of Scotland lands the top prize in a nationwide survey of the banking products that increase customers’ “financial wellbeing”….read more
Fairbanking accredited as UK’s first certification body for retail financial….read more
“Fairbanking becomes the UK’s first certification body for retail financial products” by: Amy Loddington
The Fairbanking Foundation was yesterday formally accredited by the UK Accreditation Service (UKAS) as the UK’s first certification body for retail financial products….read more
The UK’s first certification body for retail financial products….watch now
Four UK banking products awarded ‘Fairbanking Mark’ accreditations.…read more
“Can ‘FairBanking’ restore our trust in banks?” by: Lucy Warwick-Ching
News this week that a new scheme is poised to become the financial equivalent of FairTrade labelling for food, could be just what the banking industry needs to regain customers’ trust….read more
“Fairbanking to certify UK bank accounts” by: Lucy Warwick-Ching
A charity set up to judge whether bank accounts and credit cards contribute to customers’ “wellbeing” is set to become the UK’s first certification body for financial products….read more
Four UK banking products gain very first ‘Fairbanking Mark’ accreditations….read more

 

“Damning indictment of profit-hungry British banks in new ‘quality mark’ ratings as just two pass fairness test”
by: Dan Hyde
In a damning indictment of profit-hungry British banks, just two current accounts in the UK have been judged good enough for a new fair play quality mark….read more
“Fairbanking label lauds customer focus” by: Matthew Vincent
Only four providers qualify for new accreditation….read more
“Banks to get accredited for compliance standards ”

Banks in the UK will now be able to claim accreditation from the new Fairbanking Foundation for demonstrating good consumer practices….read more

“Fairbanking initiative could improve bank accounts”
A new initiative called the Fairbanking Foundation could help to improve the banking experience for customers across the UK….read more
“Are these Britain’s two best bank accounts?” by: Dan Hyde
In a damning indictment of profit-hungry British banks, just two current accounts in the UK have been judged good enough for a new fair play quality mark….read more
“Fairbanking Foundation awards first accreditations” by: Gill Montia
The Fairbanking Foundation has granted only four of its new accreditations to banks and building societies….read more

“Fairbanking mark in bid to restore trust” by: Natalie Holt
Research company Ipsos Mori has linked up with with not-for-profit company Fairbanking Foundation to launch a financial services quality standard in a bid to to re-establish trust in banks and other financial services firms….read more
“Back from the banking brink?” by: Simon Atkinson, assistant chief executive at Ipsos Mori wonders if the UK’s Fairbanking Mark will restore trust in retail banks and whether it will make them stand out from the crowd….read more
“Saffron scores with savings goals” by: Marc Shoffman
Saffron Building Society’s products have been given accreditation by the Fairbanking Foundation charity….read more
“Savings accounts awarded first ‘Fairbanking’ marks” by: Matthew Vincent
Only one high-street bank, and three smaller account providers, have been judged worthy of the first ‘Fairbanking’ marks for financial products, under a new accreditation scheme similar to FairTrade labelling for food….read more
Fairbanking ratings 2011: Is UK retail banking showing signs of reform?….read more
“High marks for Banks that play fair on products” by: Matthew Vincent
A ‘Fairbanking’ brand will set the standard….read more
“Is UK retail banking showing signs of reform?”by: Maryam Moshiri
Fairbanking’s Director, Antony Elliott, is interviewed on BBC News about the latest report published by the Foundation, entitled ‘Fairbanking Ratings: Is UK retail banking showing signs of reform? Watch…
“‘Fairbanking’ labels aim to boost competition” by: Matthew Vincent
Lloyds, Royal Bank of Scotland, NatWest, and Barclaycard are in line to earn the first “Fairbanking” marks, under a scheme similar to Fairtrade labelling for food, to improve banking competition and customer well-being….read more
New quality standard launched for banking products to show which are best at improving the customer’s financial well-being
….read more
Ratings billed as ‘FairTrade’ label for banks”, by: Matthew Vincent
Bank accounts and credit cards are to be rated according the “wellbeing” they promote in customers, under a new scheme that aims to become the financial equivalent of FairTrade labelling for food….read more
New report rates bank products – for the first time – by how much they help improve the financial well-being of customers….read more
“The Greater Good” by: Antony Elliott
Making the case for a ‘Financial Health Service’: it is not sufficient merely to increase regulation….read more
Banks have been selling fast cars without improving the brakes….read more