The savings accounts featured on Ethex are places where you can put your cash and earn some interest.
Ethex’s savings accounts offer you a choice of environmental, social or local returns. For example, Charity Bank lends to charities, community organisations and social enterprises tackling social disadvantage; and Bristol Credit Union offers savings and investments only to the people of Bristol, Bath and the surrounding area.
The savings institutions on Ethex are structured in a way that reflects their social nature. The Bristol Credit Union is a democratic co-operatives owned and controlled by their members, so by investing you become a member too. Charity Bank is a charity registered with the Charities Commission.
Just like all other savings accounts, the longer you leave your money locked up, the higher the rate you get. If you invest in a savings bond, you will lock up your money for a year or more, but you will earn a higher rate of interest.
All institutions offering Ethex savings accounts and bonds are regulated by the Financial Conduct Authority and are also covered by the government’s Financial Services Compensation Scheme. This means that if the savings institution is unable to meet its financial obligations, an eligible depositor is entitled to claim up to £85,000 of savings back from the government. For joint accounts this rises to £190,000.
The Ethex team are here to help from 9am to 5pm
01865 403 304