It values its relationships with customers and the community and is totally transparent.

A group of people from Salisbury had a great day out in Bristol at the AGM of Triodos Bank (yes, a bank !). The second surprise is the title of the day, “The financial crisis and other opportunities”. We heard how the bank has had a very successful year, with a considerable increase both in deposits and loans. This probably sounds like a fairy tale when financial news all around is so dire, but those of us who have banked with Triodos for some time, including South Wilts Agenda 21 feel like saying “we told you so.”

The Triodos philosophy is that banks should serve the community and that the face of banking should be changed from self-interest to, e.g. climate change and poverty. Its success is due to the way it has always operated. It values its relationships with customers and the community and is totally transparent. For example, there are regular reports to depositors about the enterprises to which loans have been made. The bank sets a premium on understanding and supporting these businesses, and there are certainly no toxic assets. Loans are funded from deposits and there is always plenty of liquidity in case of problems. Almost 50% of its loans are to enterprises related to the environment, the rest are to social and cultural businesses.

The day was like being in a sustainable community for a few hours. The venue is very convenient both for trains and buses (and boats), local food and plenty of tap water available (not a hint of bottled water), an array of recycling bins, all clearly labelled, and a variety of stalls showing the wares of some of the businesses which have received loans from Triodos. Instead of the shouts of indignation reported from recent AGMs of some of the conventional banks, there was frequent applause and praise from the audence.

I can recommend this day as a ‘must do’ for next year.

Ruth Popplestone