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An introduction to the Co-operative Bank

The Co-operative Bank was founded in 1872 to service retail co-operative societies. Since then, it has grown to be one of the UK’s major clearing banks, and provides a full range of traditional and online banking services. The Co-operative Bank adheres to an ethical code and does not transact with any companies or organisations that it deems to be unethical. The following article provides you with an overview of the Co-operative Bank.

Current accounts and credit cards

The Co-operative Bank offers a range of current accounts to customers and awards each customer with membership points, based on the funds held in their bank accounts. Members then share in the bank’s profits at the end of the year.
Privilege Premier Account The Co-operative Bank’s Privilege Premier Account includes car breakdown cover, worldwide family travel insurance and mobile phone insurance. Online personal banking is also available. Credit cards The bank has a variety of credit cards that offer competitive rates. Its Think Credit Card contributes to helping the Indonesian rainforest when it is used. The member’s credit card entitles holders to receive a share of the Co-operative Group’s profits.

Mortgages

Co-operative Bank customers have a choice of mortgages to suit their budget and preferences. The bank offers both fixed rate and tracker mortgages. Applicants can either contact specialist mortgage advisers by phone or can visit one of the Co-operative Bank branches.

Insurance

The bank provides a selection of Cooperative insurance products, including car insurance, home insurance, life insurance and pet insurance. Young Driver Insurance The bank’s Young Driver Insurance applies to drivers between the ages of 17 and 24, and includes the installation of a smart box, a device that collects driving data and adjusts the premium accordingly. Pet insurance The Co-operative Bank’s pet insurance provides up to £5,000 cover for veterinarian fees and comprehensive dental cover. A 25% discount applies to pet insurance that is purchased online.

Business Banking

For business customers, the Co-operative Bank offers a full range of services, including online Business Banking and flexible access. Customers have a
24-hour a day access to their business accounts, either via Internet banking or UK-based call centres. Business Directplus The Co-operative Bank's Business Directplus account offers free Business Banking for a period of 18 months, together with free use of a business credit card.

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