Insurance Overview

No evidence of an ethical lending policy found specifically for Ulster Bank.

However, Ulster Bank is part of the RBS Group. RBS Group Policy states:

“It is our responsibility to minimise these risks and to enter into lending relationships with companies who share our commitment to responsible business practices.”

Based on the information in its 2012 Sustainability Report, RBS Group places heavy restrictions and requires enhanced due diligence for higher Environmental, Social and Ethical (ESE) risk companies in specific sectors. These sectors include power generation, gambling, defence, oil and gas, mining and metals, and forestry.

The group refuses to provide financial services to “to companies involved in either the production, sale or stockpiling of highly controversial weapons including cluster munitions and anti-personnel landmines (including bespoke  components) banned under international agreement ratified by the UK.” See page 32.

However, the group does not refuse outright to lend money to companies operating in other areas typically considered to be unethical.

RBS Group’s positions on Environmental, Social and Ethical (ESE) risk companies are approved by a Senior Risk Committee and are endorsed by the Group Sustainability Committee (GSC). These positions are reviewed at least every two years.

No evidence found of the Group’s ethical lending policy in action.

No policy was found to indicate that Ulster Bank avoids lending to or insuring companies that directly contribute to human rights violations.

Its parent company, RBS Group’s position on human rights states that the group assesses each lending, investment and services decision on an individual basis through its defined risk and credit committee procedures and take into account relevant social, ethical and environmental issues as a part of that process. See RBS Group Position on Human Rights.

Regarding its supply chain, RBS Group’s Human Rights Policy expects that suppliers should support and respect the protection of internationally proclaimed human rights and make sure they are not complicit in human rights abuses. They should not be complicit in discrimination child labour, or any form of forced or compulsory labour.

Huuman rights modules have been built into relevant compulsory online training programmes for RBS Group employees. In addition, client specific human rights risk training is delivered to risk professionals and appropriate employees across the Group.

Ulster Bank provides the following:

• Basic Bank Accounts: current accounts with no overdraft or credit facilities

No evidence that Ulster Bank provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).

However, in 2011, RBS Group launched its sponsorship for the Community Development Finance Association (CDFA) “Change Matters 2” performance framework, aimed at raising professional standards in the Community Development Finance Institution (CDFI) sector. The framework is one of the CDFA’s five priority commitments to build the CDFI sector, attract more investment for their members and in doing so increase access to affordable finance across the UK.

In addition, the bank group provided £5 million in funding for a new 'Community Business Loan' which was launched in October 2011. CDFIs can apply for loans of between £200,000 and £1m.

Ulster Bank provides the following access schemes:

• textphone services for deaf, hearing or speech impaired customers
• induction loops in all the bank’s branches 
• sign language interpreters upon request and with advanced notice
• Statements, letters, information and other literature available in Braille, large print or audiotape
• large-size chequebooks
• Cash machines available in Braille, large print or audiotape

Click here link for more details.

Ulster Bank's parent company, RBS Group, has launched RBS Inspiring Social Enterprise. The Group’s Micro Finance Fund is an independent charity that was set up to lend directly to the social enterprise sector. The fund approved over £3 million for loans in 2012. See page 29.

Ulster Bank offers the Funding for Lending Scheme: As part of Ulster Bank’s commitment to the Government's Funding for Lending Scheme, they’ve launched a fund specifically to support local businesses. Customers are not charged an arrangement fee for any new loans drawn under the scheme and can qualify for a 1% interest rate discount if the loan is for five years or less.