Colonya Caixa Pollença “Ethic Savings” program provides funding for small local companies committed to social inclusion and sustainability.
On Friday, 5th of May 2023 the annual “Ethic Savings” awards hosted by Caixa Pollença took place at Apfem Ibiza. We are honoured to be one of the companies who received funding based on our commitment to social content and sustainability.
What is Colonya Caixa Pollença Ethic Savings?
Colonya Caixa Pollença is a savings bank based on the island of Majorca with presence across all the Balearic Islands. Colonya’s relatively small size allows for a truly personalised relationship and bespoke services for their local client base.
We started our relationship with Colonya back in 2020, when Meet the Sea sought funding for our Family Boat Trip. A difficult moment for us all, as rumours of the pandemic were about to translate into lockdown. With the new season only a few months away, we were grateful and surprised that our loan went ahead. And in July, Meet the Sea organised its maiden trip thanks in part to the support of Colonya.
“Estalvi ètic” or Ethical Savings is a scheme pioneered by Colonya to fund small companies based in Majorca, Minorca and Ibiza. These companies promote equality, opportunity for the disadvantaged, sustainability or commitment to the environment. Any of these areas as main corporate objective warrants the consideration of Colonya’s Ethic Committee for financial support.
This is how it works: clients donate 20 € per year to the cause. Additionally, the bank lends 5% of their insurance premiums, 0.35% of their loan revenue and 5 € per every card issued. That brings the 2023 total to a sum of 413,000 € destined entirely to applying companies.
Ethic savings distribution criteria
An external and therefore independent committee sets the rules and criteria for a favourable decision. Crucially, companies must show actions that favour inclusion and sustainability in their operations. It is Colonya’s way to favour ethical banking practices applied to small local companies. And this year, 142 companies from Mallorca, 32 from Minorca and 24 from Ibiza obtained a welcome surplus.
We want to congratulate Colonya for a palpable and direct action to promote ethical banking. Finally, we join other companies in Ibiza in thanking them for supporting our cause. Onwards with education and entertainment at sea for families around the world.