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Bank switch case study: ACP-UK

Initial bank account: Lloyds Switched to: COOP

The Association of Clinical Psychologists (ACP) is a professional body of psychologists that is more politically active than similar bodies. They have a membership scheme and paid staff but are comparatively small. 

The Climate Action Network, a working group within the ACP, approached ACP leadership about the issue of banking and the climate. The ACP found itself in the fortunate position that its chair and other board members at the time were very supportive of climate action so they didn’t take a lot of convincing. After some delay due to the hiring of a new treasurer, the finance team reviewed the banking options at their disposal. Given that the ACP does not require physical bank branches simplified the search. Once they decided to go for the Coop, the accounts switch was relatively straightforward. 

ACP believes that organisations need to take action if they are serious about the climate emergency. If health organisations cannot do it, then how can they expect other organisations to lead by example? Just like alcohol or cigarettes, climate change is incredibly harmful to human health and should have no place in a health organisation’s finances.

If the Climate Action Network of the ACP were to do this all over again, they would spend more time having conversations with the ACP leadership. It is tempting to run campaigns via quick emailing but taking the time to get to know leadership members and connecting with them directly could have led to stronger relationships within the ACP and potentially a quicker bank account switch. They would also have advocated for a bank account switch using arguments related to other social issues, not just the climate.