Co-operative Bank launches Scottish charity unit

November 04, 2010

The Co-operative Bank’s ambitious plans for growth north of the border were underlined today (4th November) with the launch of a new Scottish charity and social enterprise team.

The specialist unit will be based in Edinburgh and Glasgow and hopes to offer the Country’s charitable organisations an alternative to the traditional banks.  The Bank believes its relationship approach, co-operative model and position as the UK’s only high street bank with a clear Ethical Policy will appeal to the charities sector.

It is the latest move in the Bank’s plans to expand in Scotland.  Earlier this year it created a dedicated Scottish renewable energy team.  Whilst in 2009, the Bank opened a corporate banking centre in Edinburgh, adding to its existing operation in Glasgow.

The Bank is an established provider to charities and social enterprises of all sizes and provides banking services to some of the UK’s most well-known groups such as Christian Aid and Amnesty International.

Mike Grigor, manager of the Scottish Charities and Social Enterprise team, said: “Scotland is a key area in which we want to grow our presence to business, charities and social enterprises.

“Our ethical approach and commitments we make to society as a co-operative have long been aligned to the charity sector.

“We put great emphasis on close working relationships and hope that our supportive approach will appeal to charities at a time when they are coming under pressure through impending reductions in grant funding and people cutting back on donations during tough economic times.”

The Bank offers charity organisations with turnover of more than £1m per year tailored banking solutions supported by a dedicated relationship manager and support team.  For those with turnover under £1m free banking is available through the Community Directplus account.

In a further sign of the Bank’s commitment to grow its business in the charitable sector, it has also announced today that it has expanded its North of England team based in Manchester.  The Bank has a further specialist charity and social enterprise team based in London.

This year the Bank received a number of accolades that reinforce its responsible approach to banking.  These include the ‘Best Charity Account Provider’ at the 2010 Business Moneyfacts Awards; and being named ‘World’s Most Sustainable Bank’ by the Financial Times and International Finance Corporation (IFC), part of the World Bank, ahead of 110 banks from 44 countries.

Anyone interested in more information should contact the Scottish Charity Banking Team on 0131 229 0151.

 

For further information contact:       

Andy Hammerton
The Co-operative Financial Services Press Office
Tel: 0161 903 3835 / 07799 476 977
e-mail : andy.hammerton@cfs.coop

 

Notes to editors:

ISDN facilities available for broadcast media

 

About The Co-operative Financial Services

The Co-operative Financial Services (CFS) is part of The Co-operative Group, which is the world’s largest consumer co-operative with around five million members, over £14 billion turnover, and core business interests in financial services, food, travel, pharmacy and funeral care.  The Co-operative Group has over 5,000 retail trading outlets.

Following the merger with Britannia Building Society on 1 August 2009 CFS is one of the largest and well diversified mutual businesses operating in both retail and corporate markets.

As part of The Co-operative Group, the new business is characterised by its unique ethical and member reward policies and very high levels of customer advocacy.

The combined business has £70 billion in assets, 12,000 staff and nine million customers.  It has over 300 high street branches, 20 corporate banking centres and a major presence in Manchester, London, Leek, Plymouth, Skelmersdale and Stockport. 

It is the only mutual organisation that enables its members to earn financial rewards for the products they hold, as well as giving them the opportunity to have a say in how the business is run.