Ecology Building Society

Location United Kingdom
Key figures Impact story


Ecology Building Society is dedicated to improving the environment by supporting and promoting ecological building practices and sustainable communities. We provide mortgages across the UK for environmentally-positive properties and projects, funded through a range of fair, transparent ethical savings accounts.

Our unique approach supports individuals and communities to adopt environmental building practices, improve the energy efficiency of our building stock, and live or work in a way that promotes a sustainable economy. As a mutual, we are owned by our members and create a partnership between our savers and borrowers, based on shared values and a commitment to sustainability.


In 1980, at a Green Party conference, a Yorkshire solicitor complained of the difficulty he had in finding a mortgage for a property needing extensive renovation. Someone suggested starting a building society and Ecology was formed. Then, as now, a group of people came together to make money work for the good of people and the planet.

We began trading in 1981, from a tiny upstairs office in Cross Hills, West Yorkshire, just a few miles from our current eco-HQ. By 1985, we had more than 1,000 investors and assets of £1.25 million, and by 1993 we were no longer the smallest building society in the UK. By 1997 our assets had reached £20 million, and ten years later our membership reached 10,000. In 2011, our assets passed £100 million for the first time.

Today, Ecology’s lending encompasses new builds, renovations and conversions, commercial properties and the ecological refurbishment of existing housing stock – something which is critical to reducing the UK’s carbon footprint. We also lend for alternative forms of tenure such as cohousing and housing co-operatives, as part of our focus on affordable, sustainable housing.


Ecology Building Society is a mutual financial institution, owned by our members and constitutionally dedicated to promoting their interests and our environmental mission. We operate from our head office in Silsden, West Yorkshire, giving members access to their accounts via post, telephone and our Interactive online service.

Every eligible member is entitled to one vote at the Society’s Annual General Meeting, regardless of the size of their account. Our members elect our Board of Directors and are able to influence Ecology’s strategy and policy via our Annual General Meeting and direct engagement with Society staff.

At 31 December 2017, Ecology had total assets of £178.7m, of which £114.4m represented mortgage assets.

Management Board

  • Steve Round, Chair
  • Paul Ellis, Chief Executive
  • Pam Waring, Deputy Chief Executive and Finance Director

Market Focus, Products and Services

Ecology’s mission is realised through four inter-related principles:

  1. Sustainable mortgages

We base our lending decisions on the environmental and social impact of projects, such as building materials, energy consumption, land use, lifestyle and impact on local communities. We assess each project individually and will often consider innovative or unusual properties that other lenders may reject. We offer a simple variable rate mortgage and adjust our pricing according to the sustainability of the project through a range of mortgage discounts.

  1. Affordable housing

We believe that affordable homes are an essential part of sustainable communities and lend in support of affordable, energy efficient housing and social forms of tenure, through means such as community land trusts and shared ownership.

  1. Ethical saving

Our commitment to ethical savings means using our members’ money to make a positive environmental and social difference. We offer a simple, transparent range of savings accounts and personal customer service from our head office. We strive to be ethical in all of our operations, aiming for long term relationships, rather than short term profit, and we ensure that we treat all of our saving members fairly.

  1. Mutual values

Our mutuality is at the heart of our work. We believe that co-operative governance models are a better way to create a sustainable economic and financial system, in which community and local involvement can flourish. Our business model is based on a partnership between savers and borrowers and we extend this approach to support for the wider mutual movement, such as co-operative businesses and housing projects.

Beyond our core activities of lending and deposit-taking, we achieve our aims through:

  • Engagement in public debate, including with government agencies and opinion-formers, on strategies to achieve a sustainable economy and democratic financial system
  • Research and creative activity, to ensure that our work is informed by a strong knowledge base
  • Partnerships with organisations that share our values, such as the UK Passivhaus Trust and Forum for the Future.

Key figures for Ecology Building Society

* Figures in USD million
** Based on local currency
Total Assets226241214216215
Funds Under Management0000 0
Total Assets and Funds Under Management226241214216215
Total Assets and FUM Growth (One Year)**-0.45%3.24%18.59%5.85%10.62%
Loans (net)161154146168142
Loans to Total Assets71.1%64.0%68.2%77.8%66.2%
Loan Growth (One Year)**10.59%-3.03%3.94%24.30%9.92%
Client Funding211226201199201
Client Funding to Total Assets93.3%93.9%94.2%92.3%93.7%
Client Funding Growth (One Year)**-1.08%2.88%21.03%4.34%10.79%
Equity to Total Assets6.0%5.4%5.0%5.3%5.0%
Tier 1 Capital Ratio17.5%18.1%17.0%15.1%14.5%
Total Revenue5.
Net Income1.
Return on Assets0.57%0.52%0.58%0.62%0.43%
Return on Equity10.11%10.01%11.19%12.04%8.58%
Cost to Income Ratio69.1%70.5%63.3%62.8%72.0%