The Co-operative Bank has a proud history of ethical campaigning.
Our values and ethics have always been more than words on paper. They underpin how we run our business. The Co-operative Bank remains the only High Street bank in the UK to have a customer-led Ethical Policy and we have a proud history of campaigning on issues we know our customers care about.
When we extended our Ethical Policy in 2015, our customers told us that they wanted to see the Bank return to campaigning, to address issues and causes where we can help to make a difference.
Although a little known issue, financial abuse in intimate relationships is widespread and its impacts are far reaching. We wanted to better understand the issue and the role banks could play in supporting victims so we formed a partnership with Refuge, the national domestic violence charity, together we approached Nicola Sharp-Jeffs from the Child and Woman Abuse Studies Unit (CWASU) at London Metropolitan University and commissioned a new research report into the issue: Money Matters – research into the extent and nature of financial abuse in relationships in the UK.
Our aim is to lift the lid on the issue, increase understanding and identify ways in which banks can make changes to help victims.
The Co-operative Bank is committed to implementing key recommendations and working with the banking industry to help the victims of financial abuse in relationships.
We are making a series of recommendations on how the banking sector could positively support the victims of financial abuse in relationships.
The Bank is committed to implementing key recommendations, looking to positively support victims of financial abuse by working with the banking industry in an effort to:
We are asking our customers to support the campaign by raising awareness of this little known issue by breaking down the barriers that currently exist. Women, who are the main victims of financial abuse in relationships, are least likely to inform their bank. Our customers should be able to talk to the bank and be referred to the relevant support organisations for help.
The impact of financial abuse in relationships can be long-lasting and is a barrier to many victims being able to rebuild their lives. My money, my life is about giving control back to the victims so they can move forward.
Copyright Julian Nieman for Refuge
Financial abuse in intimate relationships is a way of controlling a person's ability to acquire, use and maintain their own money and financial resources.
Financial abuse in relationships is a little known issue - our customers can help by talking about the issue and raising awareness.