The Co-operative Bank
Friday, 28 July, 2017
Customers of The Co-operative Bank support homeless youngsters with every new mortgage completed
In celebration of the 25th Anniversary of its customer-led Ethical Policy, The Co-operative Bank is partnering with the youth homeless charity, Centrepoint to support the vital work they do to help young people in the UK.
The partnership was launched with the Bank making a £25,000 donation that will fund a much needed volunteer co-ordinator function in Centrepoint’s newly established operation in Manchester City Centre.
The Bank will continue to support Centrepoint by donating £25 to the charity for every new mortgage that is completed, and includes completions through its intermediary brand; Platform. Over 12 months, donations made by the Bank will go towards funding a telephone helpline for young people across the UK who are seeking help and support.
Paul Norcott, Head of Mortgages and Insurance, at The Co-operative Bank, said: “As an employer based in Central Manchester, we see first-hand the impact homelessness has in the area and we are delighted to be working with Centrepoint, who have recently started to operate in the city.
“Our bank has values and ethics at its heart and we’re proud to be marking the 25th Anniversary of our customer led ethical policy by donating £25 for every new customer mortgage taken out to Centrepoint, to help fund their national helpline. We hope the donations we make on behalf of our customers will help to address some of the issues currently being faced by homeless young people across the UK. As part of our Ethical Policy development, our customers asked us to support causes that improve the lives of people within the communities in which we are based. We think helping to tackle homelessness is the right thing to focus on, and especially the impact on younger, and often more vulnerable, members of UK society.
“In addition to the monetary donations made by the bank, our charity partnership with Centrepoint will allow our staff to volunteer and fundraise on behalf of the charity, making a difference to homeless young people in Manchester and across the UK. We’ve already seen some great activity including sponsored swims, participation in the Manchester Half Marathon and a team who completed the National Three Peaks challenge, all in order to raise money for Centrepoint.”
Stuart Rogers, Centrepoint Commercial Director, said: “Charities like Centrepoint provide a vital safety net for young people in times of crisis.
“But we can’t end youth homelessness on our own - it is a problem for the whole community. The support of local employers like The Co-operative Bank is absolutely vital if we are to make sure that some of Manchester’s most vulnerable residents can leave homelessness behind for good.
“That is why we are working closely with Manchester's Homelessness Charter, bringing the city’s people, businesses and institutions together to ensure homeless young people achieve the two things they need most to turn their lives around: a home and a job.”
For more information about our work with Centrepoint please visit:
Notes to editors:
New mortgage customer applications received during the 12 month period commencing 2nd May 2017 will be eligible for the donation, on completion of the mortgage. New mortgages taken out by existing mortgage customers or transactions relating to their existing mortgage (e.g. a product switch, further advance, porting of an existing mortgage or change of borrower) are not eligible for the Centrepoint charity donation at this time. The £25 will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.
The £25 donation will be made for each new-to-Bank mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time.
Centrepoint is a registered charity in England and Wales, No. 292411
About The Co-operative Bank
The Co-operative Bank p.l.c. provides a full range of banking products and services to almost 4 million retail and SME (Small and Medium Sized Enterprises) customers. The Bank is committed to values and ethics in line with the principles of the co-operative movement. The Co-operative Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Co-operative Bank p.l.c. customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.