Co-operative Bank

By: EconomyWatch Content   Date: 3 November 2009

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Starting in 1872, Co-operative bank has continued to be an ethical bank that does not invest in companies that produce arms and ammunitions, contribute to global heat or involve in genetic engineering, animal testing or sweated labor. In 1982, Co-operative bank was the first bank to offer an interest bearing check account. Co-operative bank also launched an internet bank called ‘Smile’ in 1999 and continues to offer a rich gamut of financial products and services.

Co-operative Bank: Products and Services

Co-operative bank offers an impressive range of products that range from current accounts to corporate loans. Let’s take a look at them:

  • Current accounts feature worldwide family travel insurance, fee-free overdraft, mobile phone insurance, discounts on personal loans, attractive mortgage deals and discount cards; Co-operative bank’s current accounts offer all these features besides the regular benefits.

  • Saving accounts with achievements like ‘Which? Award’ 2009: Saving accounts offer tax benefits and instant access. With rate fixed saving accounts, Co-operative bank offers consumers the opportunity to save more with their funds. With terms ranging between 1 and 2 years, consumers can earn fixed rates on amounts ranging from ₤2,000 to ₤1,000,000.

  • Mortgages ranging from fixed rate, trackers to green mortgages. Co-operative bank has the right mortgage for all needs. These mortgages let consumers take advantage of the low interest rates or pay off the amount in fixed number of years. The green mortgages pay towards the climate care projects.

  • Loans ranging from ₤7,500 to ₤14,950. Co-operative bank offers loans for interest as low as 8.9% APR. They offer personal, secured as well as professional and career development loan.

  • Credit cards with no annual fee, optional credit card protection plan, online account management and at least 46 days interest free credit. Co-operative bank has a rich inventory of credit cards that offer cash back and attractive interest rates.

  • Insurance with as much as 11% on purchases via the net, Co-operative bank offers car, home, building, contents and breakdown insurances.

Besides these products, Co-operative bank also offers corporate loans for big as well as small businesses. They also offer investment opportunities and consumers looking to get more from their money can consider their unit trusts, pensions or investment bonds.


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