UK-based sustainable fintech ekko is joining forces with Market Harborough Building Society (MHBS) to launch the new PlanetSaver account: offering savers a competitive interest rate while contributing to various environmental projects.
Through the new PlanetSaver account, savers receive interest on their savings, while contributing 0.45 per cent in interest to a list of environmental projects selected by ekko. The sustainable fintech is aiming to have raised as much as £450,000 in contributions within the first six months of the account becoming available.
With ekko and MHBS enabling savers to contribute a portion of the interest earned on savings through selected partners, Tusk, RSPB and Conservation International, they are hoping to make it easier for customers to contribute to global sustainability efforts.
Using the account, customers will be updated on the positive impact of their contributions, which will detail the progress on the specific projects their interest has supported, therefore strengthening the connection between sustainability goals and financial activity.
“We’re pleased to be scaling the impact of ekko through this partnership with Market Harborough Building Society, strengthening our mission to drive meaningful environmental action through financial services,” explained Oli Cook, co-founder and CEO of ekko. “This partnership shows that planet-positive collaboration can be both purpose-driven and commercially viable, making it more attractive for more financial institutions to follow suit and incorporate sustainability into their product offerings, too.”
Making a positive difference
The partnership is also part of MHBS’ ‘Thrive!’ agenda, a promise to continually stand up for what matters most and help make a difference. It says the collaboration is an example of how financial services can become catalysts for everyday environmental action and respond to consumer demand to align their savings with their values.
Iain Kirkpatrick, CEO at Market Harborough Building Society, also added: “The introduction of this account perfectly aligns with our Thrive! Agenda and our mission to incorporate more ESG-centric products to our growing customer base. It also enhances the experience for our valued customers helping them to make a positive impact on meaningful environmental projects.”
MHBS was established with the primary purpose of enabling people in working communities to save and borrow so they could get the home they wanted and support their families, so Thrive! is very purposefully aligned with the ambitions of its founders.
Recent projects have included the launch of the OneBanx kiosk to the Market Harborough branch in a move to bring banking services back to the high street, significant donations to local foodbanks and a £2.2million affordable housing programme that has seen seven families in need move into safe, warm new homes in Lutterworth and Market Harborough.
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