Gatehouse Bank Customers Plant Over 20,000 Trees Through Savings Accounts
The Woodland Saver accounts were launched in February 2021, with a tree planted in a certified UK woodland project for every fixed-term and cash ISA account opened or renewed.
Working with Forest Carbon and certified by the UK Government’s Woodland Carbon Code, the trees are planted strategically for maximum impact and woodlands are sustainably manged to ensure they are protected in the long-term. In their lifetime, the 20,800 trees planted will sequester around 6,240 tonnes of carbon emissions – the equivalent of powering 786 homes for one year*. Planting trees to grow UK woodlands also offers a host of other benefits to the environment and the community, including boosting biodiversity, reducing pollution, and growing green spaces across the UK.
All of Gatehouse Bank’s Woodland Saver accounts allow both monthly and annual profit options, as well as the ability to pay the profit back into the account or into another nominated account. The accounts can be opened online and managed through Gatehouse Bank’s savings app.
Ravi Kumar, Senior Product Manager at Gatehouse Bank, commented:
“Our Woodland Saver accounts have been hugely popular since they launched last year and have been crucial in helping us reach several milestones – including recently surpassing £1 Billion in retail savings.
“We take enormous pride in the fact that we can help our customers align their financial goals to their ethical values and are delighted to have been able to plant over 20,000 trees across the UK to date.”
*Based on a conservative estimate of each tree sequestering 0.3 tonnes CO2e over its lifetime. Equivalencies estimated using US Govt. EPA Greenhouse Gas Equivalencies online tool.
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