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Cooperative banks organized
The Co-operative Bank plc
Type Consumer Co-operative
Founded 1872 (1872)
Headquarters Manchester, England, United Kingdom
Key people Neville Richardson, Chief Executive (Co-operative Financial Services)
Industry Financial Services
Products Retail banking, Commercial banking and Independent Financial Advice
Revenue £3.5 billion
Website http://www.co-operativebank.co.uk/

The Co-operative Bank plc is a commercial bank in the United Kingdom and Guernsey, with its headquarters in Manchester.

The bank markets itself as an ethical bank, and refuses to invest in companies involved in the arms trade, global climate change, genetic engineering, animal testing and use of sweated labour as stated in its ethical policy. The ethical policy was introduced in 1992. In 2002, Co-operative Group Limited brought the bank and Co-operative Insurance Society under the control of a newly incorporated holding society, Co-operative Financial Services
Ethical policy

While the bank, like any other, is run on profitable lines, it does occasionally turn away new business which it feels may compromise its ethical policies. In the 2005/06 financial year, whilst making profits of £96.5 million, it turned away business of nearly £10 million.

In June 2005, the bank closed the account of a Christian evangelical group (Christian Voice) because of its standpoint on homosexuality, specifically the group’s "discriminatory pronouncements on grounds of sexual orientation". They said the group was "incompatible with the position of the Co-operative Bank, which publicly supports diversity and dignity". Christian Voice said the bank was discriminating against it on religious grounds. Gay Times subsequently selected the Co-operative Bank for its Ethical Corporate Stance Award.


Large door to an old bank vault.





From Wikipedia, the free encyclopedia : Cooperative banks organized
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