The products and services offered by Bank Millennium support the achievement of social and environmental goals.
Bank Millennium offers a 360° account, after certain easy to satisfy conditions are met, may be maintained free of charge. The conditions offering a release from maintenance charges have been designed to be easy to satisfy, also by clients with less funds, including those who earn minimum wages. The Bank does not require funds to be received from a specific source or a single transfer in a full amount: the sum of proceeds is taken into accounts (including social support) and cash payments during the month for the minimum amount of PLN 1000.
In emergencies, the Very Helpful Package provided along with the 360° account (which is free for 12 months after the account is opened) may offer an alternative for clients who cannot afford private doctor’s visits. In such situations, the client may use 7 interventions per year.
The Bank also offers preferential terms of the 360° Student account for younger clients (from 18 to 26 years of age) and the 360° Junior account for minors (from 13 to 18 years of age) who are getting acquainted with the world of finance and who cannot afford to pay for the account; in this case, one card transaction for any amount is enough to keep the account and the card free of charge.
WWF Millennium MasterCard Credit Card
WWF Millennium MasterCard Credit Card is a credit card, which supports protection of the natural environment. Bank Millennium transfers to WWF Polska, the largest international environmental foundation, half of the monthly fee for handling the card and a certain percentage of the amount of transactions made with the card. Additionally, the card is made using an environmentally-friendly PETG polyester which may be recycled.
Millennium MasterCard prepaid card – learning personal finance management
The Millennium MasterCard prepaid card facilitates financial education for children from age 13 and teaches them how to spend money with reason.
This card may be re-loaded multiple times by family and friends. It may be used to execute transactions up to the amount of paid in funds. Each card user gains access to the web banking system in conjunction with the card, gaining the ability to check their spending by themselves. Parents after logging into their account may also see how their children manage the entrusted funds.
Recycling with the Wiewiórka card
Bank Millennium cooperates with Wiewiórka.pl, an internet platform connecting natural persons who segregate their trash with specialized companies processing secondary raw materials.
By using the Wiewiórka.pl website you can get rid of unnecessary items by handing them over free of charge to a requested messenger. The contents of the package is valuated and the due amount is transferred to a pre-paid card issued by Bank Millennium, which the website user receives earlier in a start-up package. Participants of the program may also decide to transfer the money they earned to a foundation of their choice.
Flat for the Young mortgage loan
Bank Millennium offers mortgage loans granted under the governmental Flat for the Young programme. Under the programme, the downpayment is co-funded by the state budget and additional financial support is provided as repayment of a portion of the loan.
Buyers eligible for the co-funding take out a loan to purchase an apartment to satisfy their own residential needs. The Flat for the Young loan is granted to those buying their first apartment or house; these requirements do not apply to people raising at least three children. The real property may be purchased by married couples, unmarried individuals or persons raising children on their own.
Under the Flat for the Young loan, the co-funding may reach even 30% of the downpayment amount – for the people buying an apartment or a house, who raise at least three children as at the date of filing the application.
Prestige and Private Banking Clients
Bank Millennium's offering includes SRI (Socially Responsible Investing) mutual funds:
|BlackRock GF New Energy Fund||Invests in equities of companies operating on the alternative energy and energy technology sectors.|
|BlackRock GF World Healthscience Fund||Invests in equities of companies with substantial interests in healthcare, pharmaceuticals and medical technology and equipment as well as biotechnology development.|
|UniAkcje Biopharma||Invests mainly in shares of biotech, pharmaceutical and medical companies.|
|PZU Energia Medycyna Ekologia||Focuses on the companies that run a business associated with power, healthcare and protection of the natural environment.|
The Bank’s offering for Corporate clients includes products to finance infrastructure development in rural areas, environmentally friendly investments and solutions supporting development of small and medium enterprises.
Environmentally and socially responsible lending
Project financing rules
Bank Millennium has inserted clauses in its rules and regulations for lending to Corporate Banking clients on all clients having to meet the requirements of environmental protection and respecting employment rules. This means that all the projects debt-financed by the Bank and all credit products are also subject to these requirements.
The rules and regulations contain certain restrictions regarding the financing of socially harmful activity featured on the EBRD Environmental and Social Exclusion List. The limitations commit all the Borrowers not to use the funding received from the loans for projects associated with forced labor and all forms of discrimination in employment and production and trade in various substances recognized as dangerous and harmful for the environment. Moreover, the Borrowers are obliged to run their businesses in compliance with environmental protection regulations and other health and safety regulations and the principles of social co-existence.
Environmental criteria for granting loans
The Bank also considers environmental criteria when it grants financing under specific products:
- Leasing Eko Energia - the Client signs a declaration of the estimated energy efficiency of the planned investment project.
- Loan for technological innovations – one important element in the assessment of the Client’s application assessment is whether the project contributes to the implementation of sustainable development principles (i.e. whether the manufactured product has an extended life cycle, product is recyclable, product has a positive effect on the environment or whether its manufacturing process produces lower quantity of waste).
Financing of environmental and social projects
Bank Millennium’s corporate clients may use the offering of products to finance environmental and social undertakings.
PolSEFF Polish Sustainable Energy Financing Programme
The purpose of the project, which is managed by the European Bank for Reconstruction and Development (EBRD) is to raise energy efficiency and allow small and medium enterprises to reduce the cost of energy by having them use machinery, equipment and installations with advanced energy efficiency. The programme is addressed at the Bank’s Clients using the leasing financing through Millennium Leasing.
Leasing Eko Energia Program
The purpose of this program is to support Polish businesses in financing energy efficient technologies by encouraging them to invest in energy efficient machinery and equipment. The Leasing Eko Energia Program offers the clients up to 5% of investment premium upon the end of the lease contract.
Loan for Technological Innovations
The loan for technological innovations, which is provided in cooperation with Bank Gospodarstwa Krajowego (BGK) within the framework of the EU funds, is designated for the implementation of a new technology of manufacturing goods, processes or services that are new or much better than previously produced in Poland. Under this loan, clients may receive a non-refundable support up to PLN 6 million in the form of a technological premium, which is awarded by BGK for partial repayment of a loan granted by Bank Millennium. The project’s positive effect on the implementation of sustainable development principles is an important element considered in the loan application evaluation process.
De Minimis guarantees
Bank Millennium takes part in the government entrepreneurship support programs using guarantees from Bank Gospodarstwa Krajowego.
A business from the SME sector may use de minimis guarantees to secure a PLN loan granted to finance current operations and investments. Advantages of the program include: high amount of the guarantee (up to 60% of the loan amount and up to PLN 3.5 million) and a long financing period of up to 24 months in the case of working capital loans or up to 96 months for investment loans.
Cooperation with the European Fund for the Development of Polish Villages Foundation
For 20 years now, Bank Millennium has been cooperating with the European Fund for the Development of Polish Villages (EFRWP) Foundation in the provision of two preferred credit facilities: investments to build, modernize and renovate public, township and county roads in rural areas. These loans are addressed mainly to local governments at the township and county level.
The European Fund for the Development of Polish Villages Foundation is a non-governmental organization. Its goals include, among others, development of technical and social infrastructure of rural areas and development of broadly defined non-agricultural small and medium entrepreneurship in rural areas.
|Value of socially responsible products in 2015||Product portfolio value (PLN)||Number of products in the portfolio|
|Loans with de minimis guarantees||275,131,106.55||220|
|Leasing Eko Energia||51,995,831.56||392|