Most of us want a safe place for our money and expect a healthy interest and low costs. A bank, however, is more than just a safe place to keep your money. Banks generate profit through their lending activities, and you don’t even get the chance to decide who they lend the money to, in other words, what your money is used for.

The recent credit crunch and the crisis in the banking system have made us become aware of the complex and impenetrable nature of mainstream banking. Most people don’t understand and can’t see what role banks have in the economy, how they function, let alone the specific features, risks, benefits and drawbacks of the financial products they use. As a general rule, these elements don’t become less complex, but rather will get more complicated and cloudy. The distance between people’s money and where it ends up cannot be defined.

Banks carry enormous responsibility since they decide themselves, pumping back the money of deposit holders into the economy, which organizations they finance, thus promoting their development.

Corporate philosophy

 

Positive and negative screening

In harmony with its responsible lending policy and corporate philosophy, MagNet Hungarian Community Bank is committed to refusing the financing of activities that customers would probably exclude, too. We don’t wish to foster activities that unnecessarily damage the environment, don’t respect basic human rights, conflict with the concept of sustainable development or inflict harm on the environment.

 

MagNet Hungarian Community Bank seeks contacts with and provides funds for enterprises that create true social values and maintain an eco-friendly attitude.

In line with our corporate philosophy, we are the first bank in Hungary to offer the right to our customers to actively participate in decision making, which allows them to promote positive purposes and initiatives through their deposits.

By means of their savings held with us, our customers can provide financial resources to local enterprises that operate according to the principles of sustainability. Mentor community deposits help certain institutions (e.g. Óbuda Waldorf School) get soft financing, while Sphere community deposits promote whole spheres such as green energy, environmental protection and nature conservation, job creation, research and development, health and social care, culture, education or organic farming.

And this is done in a way that makes it possible for our deposit holders to earn market rate interest on their deposits if they choose this option.

With our community products we aim not only at enabling sustainable development, but also delivering social and environmental benefits.

At MagNet Hungarian Community Bank we are deeply committed to offering a wider range of community deposits as well as providing financing for purposes that holders of community deposits consider important.
 

 

People at the heart of everything

People are at the heart of everything we do. Our customers will meet people who share the same values and will be part of an extraordinary community where everybody would like to encourage development with their savings and investments.
 

 

Creation of common values

We delegate rights to our customers that did not exist before in the Hungarian banking sector.

Our colleagues, managers and shareholders have been working on products and services that go far beyond our past financing objectives and create and preserve true values for the Bank’s wider community. As a result, both we and our customers will progress, and we do it from our heart within the framework of a transparent, caring and friendly working model.