Important Announcement regarding Fairbanking Foundation Certification
For twelve years, the Fairbanking Foundation has been raising the standards of consumer financial products through the Fairbanking Mark to ensure they deliver consumer well-being, and you have played an important part in that success. It is, therefore, with immense regret that the Fairbanking Foundation has to inform you that we will be ceasing the operation of our certification scheme from October 31st 2021.
However, we are actively pursuing a possible transfer of the scheme to another organisation and will keep you informed on this matter.
We have done everything possible to avoid closing the certification scheme, but have come to the conclusion that is no longer possible for Fairbanking to run it.
Whether or not the Certification service is transferred to another organisation, we will continue to provide the UKAS-accredited, fully monitored Fairbanking Mark until October 31st 2021.
It is regrettable but inevitable that the scheme must close, given a significant fall in demand for certification from large financial institutions, and an end to generous grant funding from the Barrow Cadbury trust which subsidised the certification of Credit Unions.
Over the last year we have explored every possibility of replacing that funding, but despite two near-misses, we have been unsuccessful.
I am very sorry to give you this news, but I assure you that the scheme will continue until October 31st and there may yet be further news about transferring the scheme. Whatever happens to the Certification scheme, the Fairbanking Foundation will continue as a charity committed to improving the financial well-being of consumers.
David Coe
CEO Jan 13th
David.Coe@fairbanking.org.uk
The Fairbanking Foundation
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