Our values and ethics have always been more than words
on paper. They underpin how we run our business,
distinguish us in the market place and run through
everything we do. This document sets out our strengthened
and expanded Ethical Policy and marks our recommitment
to the values that underpin it.
We have listened to our customers and colleagues - more
than 74,000 of them shared their views with us and have
helped to shape the Policy. The volume of responses
gives us confidence that our approach to banking is very
relevant in today’s world.
As we rebuild the Bank, we have continued to apply our
Ethical Policy to how we run the business. We remain the
only bank on the high street with a clear customer led
ethical policy which gives customers a say in how their
money is used. Adherence to co-operative values and
ethics is now written into the constitution of the Bank to
ensure that this vital aspect of our heritage is maintained.
Our customers continue to care about the major issues in
the world today. But they also want the Policy to address
issues nearer to home. Significantly, when asked what
areas are most important to them, the two they felt the
strongest about are two new areas: operating with honesty
and transparency and promoting responsible banking.
So, for the first time, we are formalising the Ethical Policy
commitments around how we operate as a business.
We are extending our Ethical Policy by introducing four
new areas. These cover the products and services we
offer customers; how we run the business, including our
relationships with suppliers and external stakeholders;
how our workplace and culture reflect our values and
ethics; and our approach to campaigning.
As part of our commitment to transparency, we will be
publishing an annual Values and Ethics Report, which will
cover how we have been fulfilling our commitments.
The launch of our expanded Policy is the fulfilment of an
earlier commitment, an important step in our fight back to
rebuild trust in the Bank and also demonstrate what makes
us different. Our revised Ethical Policy demonstrates that
we continue to lead the way in what it means to be an
ethical bank. For anyone who shares our values and ethics,
The Co‑operative Bank is still the right bank for you.
Chair, Values and Ethics Committee