Reflection
The Co-operative Bank’s Focus on Ethics
Here is an interesting twist — a Bank whose marketing value proposition is “ethics.” The bank is called The Co-operative Bank.They have features including a card that offers 0% on purchases and balance transfers for six months. Another option is a card that earns money for your chosen organization as you make charges to your card.
All in all they have a variety of credit cards for just about any need.Their ethics are their key differentiator though. Looking at some of their statements, they make comments such as:
We believe our commitment to championing ethical values of our customers and supporting communities is unique. From our customer-led Ethical Policy to our heritage in the Co-operative movement, there’s no other organisation quite like us.
Back in 1992, we were the first bank in the world to introduce a customer-led Ethical Policy. 15 years on and we’re still the only UK high street bank with a customer-led Ethical Policy. Take a look at some of our achievements over the past 15 years, and find out why, when it comes to making a positive difference, we’re still leading the way.
Another example of one of their ethical actions:
We believe in taking action against climate change. Since 1998 we have not invested in any business involved in the extraction or production of fossil fuels. This is just one aspect of our Ethical Policy.
Read more about this bank with the innovative focus on ethics at their web site.
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