Put your money where your mouth is, say Christian Socialists

By staff writers
29 Jun 2012

In response to the latest banking-gone-bad crises, the Christian Socialist Movement is promoting its 'Put Your Money Where Your Mouth Is' initiative.

"When we turn on the news and find that banks, even after the crash, are still deceiving the government, the regulators, themselves, and us, their customers - what do we do?", asks CSM in a letter to supporters and sympathisers sent out today.

"Just when some level of trust and faith was being re-established between people and the banking institutions, we find news breaking of Barclays (and seemingly others) misleading regulators, mis-selling products to their customers, and lying about inter-bank interest rates to make themselves look more financially stable than they really are," the letter continues.

"What we should do is start taking responsibility for what our money is being used for," says the Christian Socialist Movement. "We won't buy coffee that isn't fair-trade, we won't buy clothes from a sweatshop, so why should we put our money into the hands of the very people who have lied, cheated and misled us all along? We shouldn't.

"What we should do is put our money where our mouths are and start looking to move our accounts to ethical banks, building societies and credit unions where we know it will be used responsibly.

"As Mervyn King calls for a change in culture, and Ed Miliband calls for criminal charges of bankers, we should call for more responsible use of our hard-earned money, and ethical banking," the Movement's appeal concludes. "If not now, when? And if not you, who?"

The 'Put Your Money Where Your Mouth Is' campaign (http://www.thecsm.org.uk/Publisher/Article.aspx?ID=304675) cites Jesus' observation that "Where your treasure is , there will your heart be also” (Matthew 6. 21).

It asks: "How much more of an impact could you make by simply moving your bank accounts – yours, your business, your charity, your church – to an ethical bank or credit union where you know your money won’t be used to allow a high street giant to profit from unethical investment around the world? That’s not to say, of course, that you shouldn’t buy Fairtrade! Quite the opposite. But you could do even more for the common good by moving your money too."

CSM's campaign follows in the wake of other high profile initiatives, most notably Move Your Money (http://www.moveyourmoney.org.uk/), which has been using social media to promote alternative financial options to the often toxic corporate brands.

* Move Your Money: http://www.moveyourmoney.org.uk/

* More information on the CSM campaign here: http://www.thecsm.org.uk/Publisher/Article.aspx?ID=304675

[Ekk/3]

Creative Commons LicenseThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 2.0 England & Wales License. Although the views expressed in this article do not necessarily represent the views of Ekklesia, the article may reflect Ekklesia's values. If you use Ekklesia's news briefings please consider making a donation to sponsor Ekklesia's work here.