Thursday, January 25, 2007

Banks and Cajas. Ethical Money?

Many years ago in the UK there was a clear distinction between banks and building socieites, then in the great Thatcher sell off everything was privatised and building socieites became something to make money with the same as a bank and forgot their original purpose, to serve the community.

Here in Spain the same has happened but to a much lesser degree. The building socieities are run with their social conscience still clear rather like the Co-Operative Bank in the UK. They help with funding for most of the cultural events that occur in Valencia (And I include sponsoring both football and the Opera House in that)and they have a clear set of objectives to help the communities on a social level.

You might want to bear in mind when asking for a mortgage what the bank is going to do with your money that you put into your account and the mortgage repayments. The terms and conditions from banks and building socieites are very similar but at least you know that your money may well do some good in the long run. At the moment CAM is running an awareness campaign to help preserve water, Bancaja is keeping open most of the arts events in Valencia and La Caixa performs a similar job for Catalunya. They are always involved in funding the local fiestas that make living here much more enticing.

The events that they sponsor include all of those shown here in logos and pictures. Here in La Pobla we are in the middle of the Fiestas of San Sebastian at the moment which included the blessing of the animals last Sunday. Two weeks of loads of surprise nighttime firework displays and bonfires.

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