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| As a financial institution it is important that people
have confidence in us. It gives us a real competitive advantage to
be one of the most trusted brands in the world. |
Mervyn Pedelty
Chief Executive
The Co-operative Bank |
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| Co-operative Bank |
"Customer led, ethically guided" is the
tagline of UK-based Co-operative
Bank, one of the fastest growing banks in the United Kingdom.
It provides individuals and businesses with traditional banking services,
insurance, mortgages, finance, treasury services, and credit cards.
In 1997, Co-operative Bank announced the introduction of its Partnership
Approach — a new model for managing a successful business. This
model reflected the bank’s traditional cooperative values, building
on commitment to serve not just shareholders and customers, but seven
newly defined Partners: shareholders, customers, staff, suppliers,
local communities, national and international society, and past and
future generations of cooperators.
Examples of the strategy in action include The Co-operative Bank’s
consultation with the Refugee Council and Refugee Action and its subsequent
decision to offer accounts to refugees and to support a dispersal
program by promoting positive integration in communities. Additionally,
Co-operative Bank made a significant difference in raising awareness
of the issues relating to third world debt cancellation and the negative
effects of these historic debts on the lives of people in the world’s
poorest nations. The bank is also one of the United Kingdom’s
largest purchasers of green energy.
Among its employees, The Co-operative Bank instituted a dignity at
work policy and family friendly policies, which govern individual’s
rights and responsibilities in the workplace.
Since launching the bank’s Partnership Approach in 1997, the
number of customer accounts has risen by 30%, and the bank’s
profitability has doubled. In 2002, Echo Research found Co-operative
Bank to be one of the top 5 most trusted global brands. In 2002, The
Co-operative Bank also received the Special Judges award for Overall
CSR Performance from Social
Accountability International’s Corporate Conscience Awards
For more information, contact Jayne Beer at The Co-operative Bank
via email at jayne.beer@co-operativebank.co.uk
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