Our ethical policies
Why do we need ethical policies?
It’s no secret that banks and insurers are in business to make profits. One way they do this by taking your money and lending it to someone else at a higher rate of interest.
But what they rarely tell you is who they lend it to.
With other banks and insurers, you have no say in where your money is invested and how these companies behave.
For example, your money could be loaned to companies involved in the fur trade. arms dealers who supply oppressive regimes, or multi-national companies with poor environmental records. And you wouldn’t know a thing about it.
That’s where we’re different. You tell us what you’d like us to do with your money.
In 1992, after a long consultation with our customers, The Co-operative Bank launched its Ethical Policy – a first amongst UK high street banks (and still unique today).
Thirteen years later The Co-operative Insurance did the same, launching its Ethical Engagement Policy – a world first for the insurance industry.
What both policies have in common is that they ensure that we’ll always stand up for the issues that our customers feel passionate about.
We allow you to have your say on the issues that matter to you, such as human rights, animal welfare, fair trade and genetic modification.
The two policies work in slightly different ways
The bank will not invest in businesses that operate in areas of concern to our customers.
Our insurance business takes a different approach usings its influence as a corporate shareholder to change big companies from the inside.
It’s these policies that set us apart
On the surface we may seem similar to other financial providers, but what makes us unique is our guarantee that we won’t do anything with your money that conflicts with our ethical policies (which, ultimately, you help decide).
So simply by being our customer, you’re helping us change the world, little by little, every day.
We’ve always been good with money
As well as representing the values of our customers right now, our ethical policies are symbolic of our history as co-operative business.
Since The Co-operative Movement was created in 1844 it has been based on doing what’s right for members and the wider community.
Like to know more? Read about the history of The Co-operative
