Who does your church bank with?

“Where your treasure is, there your heart will be also,” Jesus said in his Sermon on the Mount. It’s a pithy reminder of what is most important, and what is sometimes sacrificed for money.

Just Money quote the verse in their recently updated guide, Greener, Fairer Banking. It’s a guide to help churches to think through their choice of bank and ensure that their money is used for good in the world.

Many churches use one of the ‘big four’ of Barclays, HSBC, Lloyds and Natwest, often because there is or was a branch nearby. The account gets passed on and might never be reviewed, becoming part of the church’s systems. But the banking industry has ongoing investments in expanding fossil fuel production. It is complicit in funding the breakdown of the climate, as well as lending to arms firms and other industries that we wouldn’t want to be associated with.

“Big banks offer convenience and a range of services, but they also provide finance to companies that are causing harm to people and planet,” say Just Money. “Being wise stewards of the money that we receive as a gift, first from God and then from church members, means taking steps to ensure that this money is acting for good and not for harm.”

The guide offers a comparison of four alternative banks, reviewing their ethical credentials and the services they offer. “If you do end up switching, don’t do it silently,” they add. By explaining the reasons why and telling the former bank why you’re moving your business elsewhere, churches can amplify the effect of a relatively small action and contribute to wider change in the industry.

If you’re involved in the finances of your church, download the guide. And if you aren’t involved, maybe have a conversation with someone who is.