The Essex-based society said it shared the same ethos as The FairLife Charity, which aims to change the face of finance and protect consumers through fair trading, financial education, and corporate social responsibility.
The charity’s FairLife Mark is awarded to organisations which guarantee to adopt its peer agreed standards, represents a commitment to price honestly and trade fairly with customers.
The mark is designed to act as a beacon, guiding customers to products they can trust while still allowing competition and consumer choice to flourish.
Laura Bright, senior product manager at Saffron Building Society, said the organisation was a ‘natural fit’ for the building society. She added: “Since the Covid -19 crisis we have also noticed a strong, emerging movement calling for societal structures to change for the better once the ongoing uncertainties are over.
“The FairLife Charity perfectly chimes with the growing public appetite for a fairer society, something which we wholeheartedly back.”
Stuart Phillips, co-founder, The FairLife Charity, said: “It’s long been clear that there is a pressing need for financial education in the UK. Many consumers report feeling frustrated and powerless, spending hours making financial decisions that they are still not certain of and buying products that they don’t fully trust.
“Mistrust of the finance industry puts pressure on families, employers and public services.
“At FairLife we are committed to changing that, and really value the support of our growing list of backers, including early adopters such as Saffron Building Society. Without them, we couldn’t realise such an ambitious programme of reform and achieve our dream of a fairer financial system for everyone.”
The FairLife charity has a hundred supporters across the finance industry and financial education sector.
The charity is now making the mark available to firms from other industries – that commit to improving the financial wellbeing of their employees and customers. This will help it on its journey to becoming a household name and improving the lives of millions of people.
