Ethic Banking

Sonnenblumen

Today I came across some relevant examples of how the better banks engage with the local community beyond the mini rate battles. This is from the Irish Life & Permanent Shareholder Review 2006 and IMO patently demonstrates why it pays more in the long run to decline the Rabbi type Banks 'offers', take a few cents less and be with a better Irish bank.

Ref pages 8-9: 'Developing Partnerships with our local communities

First long-term study of ageing in Ireland (TILDA*)
Irish Life as anchor sponsor is contributing a total of € 4m over 10 year period.

Care and repair services for older people
Irish Life has selected Age Action Ireland as its partner and is proving € 250,000 per year for next three years

New partnership with major Irish youth organization
permanent tsb is investing € 2m to support programme over 3 year period.

There is more, much more.........but this might fly over perhaps most Rabbi customers being acutely more self centred not just when it comes to interest rates but perhaps delusional about self centred destinies, never growing old, and no awareness of social and ethical responsibilities etc.

Whats this got to do with banking, plenty.

Fortunately more of us do believe and share social and commercial responsibilities. But despite the clear disadvantages, you are still inclined to go for miserly returns behind inflation, like I said earlier, enjoy the losses.

dermot_sheehan

Banking is a business banks make a profit............. that's fair enough

We as customers, in a competitive market (which the irish financial system wasn't really until recently with the duopoly of the big 2), should seek to get best value for our custom, this normally means seeking lowest prices, for banks it means getting best return on our money........that's fair enough.

Banks and other private business sponsor community events, it generates good PR for them............. that's fair enough.


But to somehow suggest, that we as consumers should somehow not seek the best value for ourselves, that we should be charitable to profit generating companies by forsaking seeking the best value is ludicrous, cynical and plain silly. These are companies that generate rather enormus profits and you are suggesting we should be charitable to them either because we are xenophobes and don't want to deal with forgein companies or because they give a pittance of their vast profits back to voluntary organisations; a pittance in comparison to the profits they make.

Idleater

Sonnenblumen wrote:

like I said earlier, enjoy the losses.

No offence, but I have
AIB current Account
AIB monthly Savings Account (x2)
PTSB current Account (x2)
PTSB lump sum investment account
PTSB monthly Savings account
Rabo lump sum account (x2)

Is that enough ethical banking for you? Or do you want me to close my Rabo account?

I suppose I would be able to get by with the max €4000 and €5000 per day transactions that both AIB and PTSB offer.

Also, interesting that in your narrow mindedness, you didn't even Google Rabobank and Ethics.

rabobank wrote:

Rabobank helps developing countries in a number of ways, providing them with access to affordable financial services as well as with the knowledge, manpower and capital necessary to help build well-organised, self-sustaining financial services.

Our activities in developing countries aim to help local communities become more economically independent, realise their ambitions, and create a growing economy.

AIB don't even do that in Ireland, never mind other countries in Europe, or the developing world for that matter.

L.

dotsman

nereid wrote:

AIB don't even do that in Ireland, never mind other countries in Europe, or the developing world for that matter.

Obviously you've never heard of the "Better Ireland Program"

nereid wrote:

Also, interesting that in your narrow mindedness, you didn't even Google Rabobank and Ethics.

Now, now

Sangre

All these initiatives have been funded from PTSB stepping away from their big-name sponsorship e.g Irish rugby team. If you think this has anything to do with something other than the bottom line then I think you're quiet naieve. They simple think this will promote their name better.

BuffyBot

Sonnenblumen. I'm not sure why you've got this chip on your shoulder about RaboBank, or a belief that the home-grown banks are suddenly all concerned about the Irish publics best interests. Do you believe it? is it a wind up? Frankly, I'm not sure I care either way.

This thread is closed, and any further misbehaviour by you on this forum will get you banned. That includes derogatory remarks towards any financial institution, which includes you obsession with the term "Rabbi Bank".