First year of Gatehouse Bank Woodland Saver accounts sees 12,500 trees planted

More than 12,500 trees have been planted since Gatehouse Bank launched its Woodland Saver accounts a year ago.

The Bank launched the accounts in February last year, with a tree planted for every new fixed-term and cash ISA account opened.

Since then, 12,500 trees have been planted at four woodland locations around Britain, with the carbon credits registered on behalf of customers.

These trees will capture 3,750 tonnes of CO2e emissions from the atmosphere. That’s the equivalent of charging 456,159,924 smartphones or powering 681 homes for a year. It is also the equivalent of taking 816 passenger vehicles off the road for 12 months¹.

Specialist UK ecological company Forest Carbon, which creates and develops woodland and peatlands for carbon capture, is responsible for planting the trees on Gatehouse’s behalf.

They have been planted at woodland projects across the UK, including in Crook in County Durham, Penrith in Cumbria, Aberfeldy in Perthshire and Moffat in the Scottish Borders.

The Bank has six Woodland Saver Fixed Term Deposit Accounts and six Woodland Saver Cash ISAs.

Ravi Kumar, Senior Product Manager at Gatehouse Bank, said: “Our Woodland Savers have been hugely popular since they launched a year ago and we are delighted that, thanks to our customers, more than 12,500 trees have already been planted across the UK.”

Geraldine Burnett, Corporate Sustainability and Responsibility Manager at Gatehouse Bank, says: “The UK needs a significant uptick in tree planting to help fight climate change and give nature a chance to recover. Our Woodland Saver accounts help our customers make a positive difference to some of the UKs greatest environmental needs while benefiting from competitive saving rates. Our Woodland Saver customers are growing UK Woodland as they grow their savings.”

Fixed Term Woodland Saver rates

Product	Rate (AER)
1 Year Fixed Term Deposit	1.31%
18 Month Fixed Term Deposit	1.51%
2 Year Fixed Term Deposit	1.60%
3 Year Fixed Term Deposit	1.78%
4 Year Fixed Term Deposit	1.92%
5 Year Fixed Term Deposit	2.05%

Fixed Term Woodland Cash ISA rates

Product	Rate (AER)
1 Year Fixed Term Cash ISA	0.68%
18 Month Fixed Term Cash ISA	0.78%
2 Year Fixed Term Cash ISA	0.90%
3 Year Fixed Term Cash ISA	1.00%
4 Year Fixed Term Cash ISA	1.10%
5 Year Fixed Term Cash ISA	1.20%

¹EPA - Greenhouse Gas Equivalencies Calculator. Each tree sequesters 0.3 tonnes in its lifetime. 12500 x 0.3 = 3750.