Ecology Building Society

Ecology Building Society: ethical banking for sustainable housing

Ecology Building Society is a British financial institution established in 1981 by a group of people from West Yorkshire with the aim of financing the renovation of buildings with environmental criteria and supporting sustainable housing. Its first office was in Cross Hills and it currently operates from Silsden. The society combines raising savings deposits with granting mortgages for residential and community projects.

Savings products

The institution offers several savings accounts with variable interest rates. These include the Ecology Single Access Saver, with a monthly variable interest rate of 4.25% AER/4.17% gross until 31 October 2027, and the Eco Double Access Saver, which allows two withdrawals per year and offers 3.45% AER/gross variable. The range also includes notice savings accounts, easy access accounts, community accounts and Cash ISAs, as well as discontinued products. The society makes a quarterly donation to Sea-Changers to contribute to the protection and restoration of the marine environment, an initiative linked to its Sea-Changers Impact Saver product.

Residential mortgages

The mortgage range is aimed at self-build, renovation, off-site construction, property conversion, eco homes and first-time buyer purchases. In Scotland it offers the First Homes Mortgage, aimed at first-time buyers purchasing a home through the Scottish Government's First Homes Fund. It also includes shared ownership, affordable local homes and co-housing. For existing members there are benefits such as EcoReward and C-Change discounts.

Commercial and community lending

Commercial lending activity covers mortgages for community-led housing, housing developers, community groups and charities, sustainable businesses and mixed-use residential projects. The institution presents this line as a way for social entities and impact projects to access finance.

Track record and impact

Since its founding, Ecology Building Society states it has supported over 5,000 projects, helping people and communities to bring sustainable and affordable housing initiatives to fruition. The society declares a commitment to fair pay, equal opportunities, reducing waste and carbon footprint, and transparent and ethical business practices.

Structure and regulation

The institution is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, with Financial Services Register number 162090. Eligible deposits are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

Location and contact

Phone: 01535 650 770