A report by Pax Christi reported that 15 financial institutions within the UK funded cluster bombs to the tune of 800 million pounds through either investment or loans. These included HSBC, Royal bank or Scotland and Barclays. Cluster bombs have been illegal to trade since October 2008. Yet, major financial institutions across the EU still provide funding to producers of these horrific weapons.
If you go and ask your bank they will categorically deny that they fund the trade of cluster weapons. You must push them to end all financial support to the producers of cluster bombs, not just the Trade in these weapons. If they fob you off, threaten to leave and withdraw all of your savings from their bank. There are plenty of banks that do not fund cluster bombs (see Triodos or Coop).
Have you ever wondered why banks offer students and young people such amazing offers on their accounts? It is because people like me; take 8 years to get around to leaving that bank. Brand loyalty! It is up to us, as free thinking individuals to stand up and state that it is not acceptable for banks to use our money in such a despicable way.
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I’ve been a customer of the Co-op bank for over 20 years.
I can’t imagine why anyone would want to give their custom to any of the other banks when there is an organisation like the Co-op which offers all the services you could possibly want from any bank but also has a clear ethical policy.
Why take the chance that your bank is funding cluster bombs, reckless oil companies or slave labour in the developing world when you can join a bank that you know isn’t?
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