The FairLife Foundation
The FairLife Foundation is designed to benefit everyone in the UK by improving everyday financial products and educating the public in the responsible management of their financial affairs.
The charity is improving the country’s finance industry by awarding its trademark logo (The FairLife Mark) where organisations voluntarily offer a defined benefit to the public above that required by law. The FairLife Mark is a fair trading initiative, which encourages powerful financial institutions to trade more fairly with the British public. The mark will span all areas of finance and is also being used to highlight educational materials and financial commitments by employers.
As use of the mark grows, the criteria of different marks are being interlinked to create outcomes for the public that are otherwise hard to achieve. This process creates an umbrella of trust (known as the FairLife Family).
There are three types of FairLife Mark:
- Product and Service Marks highlight financial products and services that offer a defined benefit to the public.
- Commitment Marks highlight where organisations have made a commitment to improve peoples' lives financially.
- Education and Guidance Marks are awarded in recognition of educating or directing the public in the responsible management of their financial affairs.
The FairLife Foundation is a new, fully independent body which is being gifted to the nation by passing ownership to other leading charities. Several national charities have been tracking FairLife for over two years, with The National Union of Students becoming the first Member in January 2015.
The FairLife Foundation works constructively with the industry's many trade bodies to ensure that FairLife Marks are practical in a competitive marketplace. The Foundation also works collaboratively with the industry’s many accreditation bodies, encouraging them to become part of the initiative.