The Genius of Savings Banks – links and further reading

Peter Heslam is an Associate of LICC and Director of Transforming Business. His new best-selling booklet Transforming Business: Entrepreneurship and the Renewal of Thrift has already had to be re-published by Grove (in partnership with LICC).

Surprisingly, there is no modern biography of Henry Duncan. But the small Savings Bank Museum housed in the Ruthwell cottage in which Duncan founded his bank gives a good overview of his life and work.

For a short article by Peter Heslam on the awarding of the Nobel Peace Prize to Muhammad Yunus and his Grameen Bank in 2006, click here.

Christians Against Poverty provides advise and help to anyone concerned about their long-term financial wellbeing, regardless of religious belief. It supports clients with practical strategies to encourage saving and avoid debt.

Duncan's initiative helped elevate thrift as an essential ingredient in the fight against poverty. The impact on Scottish culture has been profound, reflected, for instance, in the fact that:

The World Savings Banks Institute and the European Savings Banks Group form the global face of the savings banks movement today. All member banks are rooted in their local communities and seek to contribute to them positively.

Many large commercial banks, such as Barclays and Lloyds, have roots in the Christian faith of their founders. But the UK's Kingdom Bank, founded half a century ago, is based on explicitly Christian principles.

Five Talents International is a microfinance organization representing the worldwide Anglican church. Click here for its UK subsidiary.