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Wednesday, 4 July 2012

Diamonds aren't Forever

Ever since HUGS started in 1995 we have banked with Barclays. It was convenient. They have branches in Uganda and we did not really give much thought to other banks. They were all much the same.

But recent events must have really angered so many of our supporters and that goes for our Trustees too.

After much thinking we have decided to change from Barclays and looked at banks which have some acknowledged ethical values. There are just a few. We have chosen to change to Cooperative Banking and application forms are now being filled in.

Unlike personal banking it is a bit more complicated for HUGS because we have up to 150 people paying in every month and we will be asking you all to transfer your payment to Cooperative Bank instead of Barclays

Don't do anything at present. We will contact you all in the near future and for a period we will run both accounts alongside each other.

We would welcome readers views on this. Please use the comments box below to tell us what you think


Clare Mount said...

I think this is the right thing to do, although Barclays are just the first of many banks to have been exposed for immoral practice. Many of us may find ourselves having to change banks to make our disapproval heard. Well done HUGS!

Anonymous said...

Yes, well done HUGS! I changed to the Co-operative Bank because of the behaviour of my former bank (Halifax). Their delays in setting up an interest-bearing account would have cost me over £300 had I not spent weeks and weeks insisting that I be paid the interest to which I was entitled. The major banks are 'all the same', according to one person who works for the Lloyd's Group!