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Complaints Data

Our customers are at the heart of our business and we strive to put them first in all we do.

Whilst we are proud of our record of high customer advocacy and recognition by external commentators, we also recognise that sometimes things can go wrong.

When it does, we encourage our customers to tell us and we try to put things right as quickly as possible. The feedback we receive from our customers is invaluable and it helps us to shape the way we do things in the future.

Every six months we submit information to the Financial Conduct Authority (FCA) about the complaints we've received from our customers. The information includes details of the number of complaints we receive, how many we've closed and how many we've upheld – found in favour of the customer.

The tables below outline the information submitted to the FSA.

Complaints data

Name: The Co-operative Financial Services
Group: The Co-operative Financial Services

Period covered in this return: 1st January to 30th June 2010

The brand / trading names covered: The Co-operative Bank (including smile and Britannia), Co-operative Insurance Society, CIS General Insurance, CIS Policyholder Services, CIS Unit Managers, The Co-operative Asset Management, Platform, Co-operative Bank Financial Advisers.

Product / Service Grouping Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Closed complaints upheld by firm (%)
Total 23,647 30,749 95.76% 36.10%

To put these figures into context less than two (1.91) complaints per thousand live policies, accounts, products or portfolios as at 1st January 2010, were received during the reporting time period.

The results above provide an overview of complaints received in respect of all the trading names used by The Co-operative Financial Services. We have split the results of the three largest trading names, each of which has received over 500 complaints for the last reporting period. These are:

The Co-operative Bank including smile and Britannia

Firm name: The Co-operative Bank
Group: The Co-operative Financial Services

Period covered in this return: 1st January to 30th June 2010
Brand / trading names covered: The Co-operative Bank, Britannia, smile

Products included:

Product / Service Grouping* Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Closed complaints upheld by firm (%)
Banking 9,582 17,101 99.39% 25.27%
Home Finance 1,003 941 99.57% 45.48%
General Insurance & Pure Protection 2,634 2,183 86.76% 62.94%
Decumulation, Life & Pensions 103 90 81.11% 16.67%
Investments 11 11 100% 36.36%
Total 13,333 20,326 97.76% 30.22%

To put these figures into context just over two complaints (2.09) were received per thousand live policies, accounts or investment products (as at 1st January 2010) during the reporting time period.

The number of closed banking related complaints is much higher than the number of complaints opened in the first half of 2010 because we have been responding to large volumes of complaints about unarranged overdraft charges. On 25th November 2009, the Supreme Court delivered its judgment that the level of an unarranged overdraft charge cannot be assessed to see if it's fair or not as long as the charge is explained in clear language. So, during the first half of this year, we have been dealing with all those complaints which were previously on hold pending the legal ruling on these charges.

Co-operative Insurance Society

Firm name: Co-operative Insurance Society
Group: The Co-operative Financial Services

Period Reported: 1st January to 30th June 2010
Brand/trading names covered: The Co-operative Insurance, The Co-operative Investments

Products included:

Product / Service Grouping* Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Closed complaints upheld by firm (%)
Banking 0 0 N/A N/A
Home Finance 0 0 N/A N/A
General Insurance & Pure Protection 761 792 85.61% 28.91%
Decumulation, Life & Pensions 2,890 2,943 84.68% 32.89%
Investments 374 381 85.83% 14.44%
Total 4,025 4,116 84.96% 30.42%

To put these figures into context just over one complaint (1.06) per thousand live policies, or investment products (as at 1st January 2010) was received during the reporting time period.

CIS General Insurance

Firm name: CIS General Insurance
Group: The Co-operative Financial Services

Period covered in this return: 1st January to 30th June 2010
Brand/trading names covered: The Co-operative Insurance

Products included:

Product / Service Grouping* Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Closed complaints upheld by firm (%)
Banking 0 0 N/A N/A
Home Finance 0 0 N/A N/A
General Insurance & Pure Protection 5,230 5,290 97.07% 61.93%
Decumulation, Life & Pensions> 0 0 N/A N/A
Investments 0 0 N/A N/A
Total 5,247 5,333 97.07% 61.93%

To put these figures into context just over three (3.07) complaints per thousand live policies (as at 1st January 2010) were received during the reporting time period.

*Explanation of product/service groupings:

Banking: this includes current accounts, savings accounts, credit cards, unsecured loans

Home Finance: mortgages and home improvement loans

General Insurance & Pure Protection.

  • Co-operative Insurance Society: this includes life insurance products such as level term assurance, decreasing term assurance and critical illness policies
  • CIS General Insurance: this includes home, motor, travel and pet insurance products
  • The Co-operative Bank: this includes insurance products such as Payment Protection Insurance (PPI), Overdraft Protection Insurance (OPI) and Card Protection Insurance (CPI).

Decumulation, Life & Pensions: this includes pension products, with profit endowment products, with profit bonds and annuity products. Decumulation products turn existing capital into income in retirement.

Investments: this includes unit trusts and stock & shares ISA products, investment bonds and personal interest bearing shares.