Co UK Bank

By: EconomyWatch Content   Date: 3 November 2009

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Co UK bank or the Co-operative bank is an ‘ethical bank’ with strong investment policies. These policies ensure that the bank doesn’t invest in any business that produces or sponsors products that involve in global heating, genetic engineering, animal testing, arms trade or sweated labor. These ethical polices were introduced in 1992 and gave banks a platform to assure their more discerning consumers that their money was invested ethically.

Co UK Bank: Products

With credit cards that cost nothing for the first 6 months and award-winning motor insurance, Co-operative bank has a long list of products that not only offer attractive rates but exemplary customer service as well. With investment options such as stocks, unit trusts, bonds and shares, consumers have enough choice for multiplying their hard-earned money.

In order to reach out to the corporate houses, they offer multiple financial products such as corporate current accounts, deposit accounts and offer loans as well. The bank offers free of cost business banking for 18 months. Their community accounts, for corporate houses, offer great flexibility for businesses that want to earn interest on their funds and don’t want to attract unnecessary charges.

Smile with Co UK Bank

Cooperative bank UK launched an internet bank in 1999 and called it ‘Smile’. The bank in its initial years had the highest levels of satisfied consumers and has received many awards for its exemplary customer service and innovative financial products. With a discount of 10% on almost every financial product, Smile has won around half a million consumers and has continued to do well since.

Co UK Bank: Structure

The bank doesn’t have a federal structure like other banks. The bank is owned by its members or account holders. The bank, as a whole, is owned by Co-operative Financial Services which in turn is owned by Co-operative group. The members of the group are entitled to earn dividends on their holdings and borrowing with the bank. This structure is in strong contrast to the existing federal structure of other UK banks that follow hierarchies and only the stake holders share the profits. 


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