(I personally do banking with both GLS and Triodos and also have shares / cooperative stake in them)
They have in common, that they don’t finance “Bad Things” (e.g. weapons, coal, poison, GMO) but rather exclusively finance "good things” (e.g. renewable energies, cooperative businesses, sustainable businesses …).
They usually are more transparent, also. And quite often(?), they are owned by their customers e.g. via a cooperative model.
Is this a thing for ya’ll? What are the options in your Country?
P is all the money in the economy at any given time (principal). I is the interest that compounds on top of P that must be paid back. So the economy is constantly running faster and faster to generate more P in order to payback P+I. That creates perpetual exponential growth, perpetual increasing velocity, and deeper servitude over time. I grows faster than P, and since production has been sent offshore, there is no way out of the black hole without borrowing more (credit DV).
Damon Vrabel posted a number of unbelievably excellent videos on you-tube many years ago. He exposed the global banking system and IMF. I believe he pulled down his videos when his family was threatened. A few years back I did find a mirror of his videos. Maybe I can find them again? The beauty of his videos were that anyone could understand them and he walked step by step through the financial system, much like how Aral & Laura walk us through surveillance capitalism.
I tried to download the videos (Lessons 1-6 are important to watch), but the link only downloaded Lesson 6 (still worth watching). At least Matt Prather has the videos documented for us (albeit on google). I still think Damon pulled many of his videos + his csper.org website is gone.
You may think, oh, I’m in Europe or GB, well just replace the FED with the ECB or the BoE and his videos are still quite applicable for you.
Choosing a “more ethical” Bank is probably a good idea vs. the big players, but even the smaller banks are still under this entire banking umbrella and the current exponential growth (debt based) system. No need to worry though, the banking system (or at least the USD hedgemony) is sure to collapse someday. You can’t have exponential growth in a finite world. But this may be the impetus to drag out the SDR, and then who knows what dragon will come out of the closet after the USD, Euro, BSP, etc. bite the dust?
I’m currently half way through Paul Mason’s book : PostCapitalism, A Guide to the Future.
It doesn’t respond to the initial question on “ethical banking” though i do tend to agree with @Trout’s statement :
Anyways it’s a very interesting and recommended read to better understand the financial system we live upon, where it comes from (dating back to the late eighteenth century), how it evolved throughout the ages, and how it was disrupted from it’s usual course in the late twentieth century to give the maelstrom we’re living under since 2008.