Mercury Provident
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Mercury Provident was the first British ethical bank,[1] noted for its "Target Accounts" which allowed depositors to select a rate of interest and a field to invest in. It was founded in 1974 and merged with Triodos Bank in 1994.
Mercury Provident was founded in 1974 by Christian Nunhofer and others.[2] It was later constituted as a "licensed deposit-taking institution" under the Banking Act 1979.[3] Inspired by the anthroposophical thinking of Rudolf Steiner,[4] Mercury Provident aimed to raise awareness of the functions of money and financial lending in society.[5] It offered loans to enterprises it judged to be of social and environmental value, for example Steiner schools, organic farms,[6][7] wind farms and worker cooperatives.[8] Enterprises supported included Henry Doubleday Research Association and Weleda UK.[1]