Banking customers alerted to ethical recognition for The Co-operative Society

Mon, 26 Mar 2007

Banking customers who place high importance on banking with an ethical financial services provider may be interested to hear that The Co-operative Society has just been recognised for its efforts.

According to a study by market intelligence provider Gfk NOP, the organisation was recently named as the most ethical business among UK consumers.

Among its ethical initiatives, Co-operative Financial Services has brought in more flexible working patterns for its staff and Co-operative Insurance has pioneered the launch of a new ethical motor insurance product, which offers discounts to green car owners.

Chris Davis, managing director of Gfk NOP, underlined the growing importance of ethical consumerism.

"Consumers are much more sensitive to how companies are behaving these days and companies' business practices are much more transparent than ever before," he said.

Mr Davis added that the growth of internet discussion forums and greater media interrogation of ethical claims mean that companies "have nowhere to hide" from ethical debates.

Earlier this year, Co-operative Financial Services announced another green initiative that may be of interest to banking customers.

From March 2007 onwards, the financial services provider pledged to offset all its travel and operational emissions, as well as contributing an extra ten per cent to cover historical emissions.

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