The origins of The Co-operative Bank stretch back as far as 1872. Four years later its name was changed to CSW Bank and even if during the first years it only accepted deposits and granted loans to local companies, before long it started to work as a bank for individuals also.
By 1972, The Co-operative Bank had 32 branches around the country and in 1975 it became the first bank in 40 years to become a part of the Committee of London Clearing Banks. Ever since then it has grown rapidly.
Today, The Co-operative Bank is the only bank in the United Kingdom that is part of the “UK Clearing Bank” with an ethical positioning. Since it launched this ethical positioning in May 1992, thousands of people have had the opportunity to chose a bank that does not do business with unethical companies and organizations.
For a company to receive financing from The Co-operative Bank it must fulfil the social and environmental behaviour conditions established in the bank’s ethical policy. For example, this cooperative bank has restrictions on investing in companies that deal with oppressive regimes, involved in producing arms, related to genetic manipulation or contributing to climate change by extracting fossil fuels.
Over the years, The Co-operative Bank has managed to grow continuously in terms of profitability and has become one of the national banks of reference in the United Kingdom. It has branches in all of England, regional centres and thousands of cash distributors. It works with many NGO’s, consumption cooperatives and individuals.
Ultimately, the strategy pursued by the bank is to “be a modern bank which does business in a profitable and ethical way”.
For further information visit www.co-operativebank.co.uk