Gatehouse Bank Green Saver accounts reach milestone of 5,000 trees planted

Gatehouse Bank today revealed it reached an ecological milestone – 5,000 trees have been planted in permanent new woodlands on behalf of Green Saver customers.

The bank launched the accounts in February, when all its new fixed-term accounts and Cash ISAs were transformed into Green Savers, with a tree planted for every new account opened. Customers with maturing fixed-term savings who chose to reinvest also became Green Savers.

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 in four locations across Britain.

Geraldine Burnett, the bank’s corporate social responsibility manager, said: “We are absolutely delighted that 5,000 new trees have been planted across in the UK in just five months thanks to the Gatehouse customers who have opened fixed-term saving accounts with us.

“As an ethical bank, we are committed to finding new ways to help and preserve the environment, and our Green Saver accounts enable customers to play their part in contributing to a greener future, while also benefiting from competitive saving rates.”

Forest Carbon has planted the trees across its woodland projects in Crook in County Durham, Penrith in Cumbria, Aberfeldy in Perthshire and Moffat in the Scottish Borders. The carbon credits associated with the tree planting are also registered on behalf of customers.

The bank has four fixed-term deposit accounts and four ISAs, all of which are Green Saver Fixed Term Deposit Accounts and Green Saver Cash ISAs.

Fixed Term Green Saver rates

Product	Rate (AER)
1 Year Fixed Term Deposit	1.10%
2 Year Fixed Term Deposit	1.20%
3 Year Fixed Term Deposit	1.25%
5 Year Fixed Term Deposit	1.60%

Fixed Term Green Cash ISA rates

Product	Rate (AER)
1 Year Fixed Term Cash ISA	0.50%
2 Year Fixed Term Cash ISA	0.60%
3 Year Fixed Term Cash ISA	0.70%
5 Year Fixed Term Cash ISA	1.10%

As Gatehouse is a Shariah-compliant bank, all savings deposited with the bank are invested ethically. The bank’s Shariah principles ensure that savers’ deposits are never used to support sectors such as alcohol, tobacco, gambling, adult entertainment and the arms industry.

Gatehouse Bank is one of the founding signatories of the United Nations Principles for Responsible Banking and has been working to align the business with the UN Sustainable Development Goals.