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Big banks don't care about small communities, while customers want their banks to support their local area.

Big banks don’t care about small communities, survey finds

Big banks don’t care about small communities, while customers want their banks to support their local area.

Those are the findings of a new survey by Bristol-headquartered ethical bank Triodos.

The bank asked 2,000 people about the issues they want to see prioritised for investment in their local communities.

The survey found that more than half of people in Bristol (57 per cent) think banks should play an active role in supporting local communities, not just providing financial services.

Meanwhile, less than a quarter of people in Bristol (22 per cent) think their bank supports positive change in their local area.

When asked which areas most need investment in their communities, the research identified health services and support as the key priority, chosen by 43 per cent of respondents.

The environment (including green spaces, energy independence and local renewables, and sustainability / adapting to climate change) followed closely at 39 per cent, with local high streets and small businesses ranked in third, chosen by 37 per cent of respondents.

People also called for investment in affordable, high-quality housing (35 per cent), sustainable transport (32 per cent) and social care (29 per cent).

Fifty-four per cent of people said they didn’t think big banks cared about small communities.

Roger Hattam, director of retail banking at Triodos Bank UK, said: “At a time of global conflict and political uncertainty, many people in Bristol are looking to their local communities as sources of unity, progress and hope.

“In a city with a strong tradition of social action, environmental leadership and community enterprise, there is a clear vision for a fairer, greener future: one that creates opportunity, supports those who need it most and invests in the foundations of a better local economy.

“But while Bristolians care deeply about these priorities, too many mainstream banks have failed to back that vision for too long, continuing to put profit before people and planet.

“As a Bristol-based bank, Triodos believes that where money goes matters.

“While public funding for local areas remains hugely important, it is not the only way communities can unlock positive change.

“From impact-led business lending to crowdfunding and other forms of community finance, there are growing opportunities to use the power of money to support flourishing local areas.

“Banking can be a powerful way to back the communities, values and local solutions that Bristol needs to thrive.”

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