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Co-op Bank offers an ethical option for ISAs

15 March 2018

  • The Co-op Bank has a range of fixed rate and instant access cash ISAs available this ISA season;
  • Savers can be assured that by choosing a Co-op Bank ISA account they are putting their money in a bank that is committed to its customer-led Ethical Policy.

Ethically minded savers should consider where their money is invested when looking to utilise their tax-free ISA allowance this ISA season to ensure they choose a bank that is not in conflict with their concerns. Picking an ethical savings provider will ensure that their savings are being held in a bank that supports good causes such as promoting human rights and equality, and protecting animal welfare.

As the only UK high street bank with a customer-led Ethical Policy The Co-op Bank is a good choice for savers looking for an ethical home for their savings before the end of the 2017/18 tax year. The bank’s ethical policy is part of the Articles of Association of the bank meaning it is committed to operating in line with the values and ethics it shares with its customers.

For example, in the last five years the Bank declined banking services to 30 organisations that were in conflict with the Ethical Policy, with conflicts relating to human rights & equality, oppressive regimes, fossil fuel extraction and production, and animal welfare. The Bank also provided a wide range of bespoke banking services for charities, community groups, voluntary organisations and social enterprises, who share our co-operative values and lent £40 million to this sector last year.

YouGov research carried out for The UK Sustainable Investment and Finance Association (UKSIF) as part of Good Money Week at the end of 2017 showed that; 26 per cent of UK adults who make some kind of investment are as equally concerned with getting a return on their money as they are with making a difference to the world*. Savers looking for an ethical ISA product can choose from the range available from The Co-op Bank which includes;

Britannia Fixed Rate Cash ISA - fixed until 5 April 2019

  • 0.80 per cent Tax-free / AER
  • Minimum deposit of £5,000 if using any of the current tax years allowance; if only transferring in a previous years’ ISA, then the minimum is £1

Britannia Fixed Rate Cash ISA - fixed until 5 April 2020

  • 0.90 per cent Tax-free / AER
  • Minimum deposit of £5,000 if using any of the current tax years allowance; if only transferring in a previous years’ ISA, then the minimum is £1

Online Cash ISA (existing online banking customers, online only)

  • 0.56 per cent Tax-free / AER
  • Minimum deposit £1

For full details of the ISA products available please visit: https://www.co-operativebank.co.uk/savings/isas

Stuart Beattie, head of savings at The Co-op Bank said: "Our like-minded customers can be assured that by investing their savings with The Co-op Bank they are choosing a bank that will support causes that are in line with the commitments of our Ethical Policy.

“Our values and ethics govern how we operate as a bank and we ensure that savers get a competitive return on their investment as well as being a bank that will support good causes; such as those that protect the environment and those that promote social and economic growth in Britain.

“Our customer-led ethical policy has been shaped by more than 320,000 customer and colleague viewpoints and also ensures that we treat our customers fairly and that products such as our range of ISA and savings accounts are designed to be clear and transparent.”

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*Notes to editors:

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2128 adults. Fieldwork was undertaken between 25th - 26th September 2017. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+). YouGov research carried out for UKSIF.

Q) Do you have any investments (including stocks and shares, funds, unit trusts, pensions, NISA/ISAs etc.)? Yes = 41% (882 respondents)

Q) Of all those that invest: 26% stated that the best way to describe their view on investments was: “I am equally concerned about whether my investments make money and make a positive difference to the world.”

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