Empowering Communities, Transforming Lives
parent company
Coventry Building Society
trustpilot
4.6/5 based on 15,912 reviews
customers
Individuals
Businesses
services
Standard Accounts
Saving Accounts (Children, Instant Access, Fixed Rate, ISAs)
Credit Cards
Loans
Mortgages
Insurance
ethical credentials
- Top-ranked bank by the good shopping guide 16 years running
- Member of the Global Alliance for Banking Values
- Living wage employer
charity work
The Co-op Bank’s charitable arm is supported through its Customer Donation Fund, which provides grants to eligible charities, co-operatives, and community interest companies that hold a Community Directplus account. Additionally, the bank offers support through a free Community Directplus account, access to a Charity and Co-operative Lending Fund with £30 million in loan funding, and the broader Co-op Local Community Fund which is supported by Co-op members.
- Fossil Free Certified Bank (2022)
- Fair Tax Mark holder
- Living Wage Employer
- Carbon neutral operations since 2007
- Collaborate with community and sustainability initiatives (Homelessness prevention, Domestic abuse support, Climate and biodiversity projects)
The Bank declares that its “Charitable Fund commits a proportion of Bank profits to driving positive social and environmental change”. That indicates some profit-reinvestment into social/environmental initiatives. The Bank’s Sustainability Report notes for 2024 that its “community investment” (i.e., charitable donations + grants) was about £1,026,265.
policies
The bank is committed to treating customers and colleagues fairly, empowering people to live freely and equitably, and supporting human rights, equality, and social justice.
It pledges to review its products and services to ensure fairness, foster an ethical workplace with a cooperative culture, and actively campaign on issues like homelessness, gender equality, domestic abuse, and human rights.
It will refuse to do business with organizations or entities that violate fundamental ethical standards (e.g. those that abuse human rights, produce indiscriminate weapons, oppress regimes, discriminate, or block access to basic necessities).
It was the first bank to have a customer-led Ethical Policy.
controversies
violations
2 Labor Standard violations: Disability Discrimination and Unfair Dismissal
2 Consumer Standard violations
Controversy with previous chairman Paul Flowers, under which the bank report huge losses; He was later banned by the FCA from the financial services industry for misconduct, including misuse of his position and inappropriate personal behaviour.