The Cooperative Bank
With 6.5 million customers the Co-Op bank is the largest consumer co-operative in the UK. Originally founded in 1867, it is an example of a unique type of business model and prides itself on its ethics rather than profit-led business.
It offers a full range of mortgages, loans, credit cards, savings, investments, and general insurance as well as having CIS for specialist insurance. As a co-operative society it can often be more lenient on its lending criteria. There are also corporate banking and business banking services which base themselves on ethical criteria.
The Co-Operative Bank offer a reward current account called, Privilege Premier, where you pay £13/month and you receive UK and European breakdown cover, worldwide family travel insurance, mobile phone insurance and more.
Taken over by hedge funds-still no word from the executives in charge.Why do we customers have to rely on the media to know what’s going on? Does not have a future as a mutual-does it have a future at all -we should be told.
I am another customer of their Guernsey branch and have just discovered from their website that they will be closing the branch.
Perhaps my fault, as an expat I have not visited my Mum in the UK to check my mail for the last three months.
Seems as if I have less than a month to “voluntarily close my fixed term deposit accounts”, a significant loss in interest to me. How can a shitty bank walk away from the agreed period of a fixed term deposit?
We had dealings with Co-Op bank years ago and they were the most unethical, cheating organisation that I have ever come across. Their demise is long overdue and my only sympathy is for the investors who will suffer due to the bank’s defaults. It never pays to claim to be holier than though – even when you are a Reverend !!