News Archive

"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.

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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

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

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

Welby praises credit unions as regulators get tough ....read more

Archbishop gives credit where credit is due....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 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

"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

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

"The Greater Good" by: Antony Elliott Making the case for a ‘Financial Health Service’: it is not sufficient merely to increase regulation....read more