Community banking
Our community accounts, Community Directplus and Co-operative Directplus are designed to combine sound business practice with ethical values. When you're looking after your organisation's finances, you don't want your funds to diminish through unnecessary bank charges. That's why our community accounts give you free banking and pay credit interest.
All our community group, social enterprise and charity banking customers could also receive extra funding through our unique customer donation fund. Since 2003 we've donated £155,770 to 195 customers.
Case studies
Macclesfield Youth Brass Band gives young people a fantastic opportunity to learn to play brass band instruments and perform at events within the local community.
Approximately 70 young people have benefited from new instruments and equipment purchased with the donation from the Community Directplus Customer Donation Fund.
Freewheels Youth Group provides employment and accredited training opportunities for 16-19 year olds in Leicestershire.
It also provides a free bike repair and maintenance service for communities across Leicester and aims to become an educational resource for schools and local community groups, supporting the wider community to live more active and healthier lifestyles.
The money was used to help run the mobile bike workshop service across Leicestershire, buying tools and bike consumables that were needed to fix the bikes within the local community. Overall, the project has helped over 100 residents to start cycling again.
We are also the largest provider of banking facilities to the British credit union sector and have worked with the Association of British Credit Unions Limited for many years. The bank provides facilities to over 60% of the British credit union movement and has invested over £900,000 to launch a credit Union Current Account.
And we offer a wide range of charity credit cards for many registered charities, including Amnesty, The Woodland Trust and RSPB meaning your spending can raise money for your chosen organisation.
The Co-operative takes the view that we should do what we can to ensure that every individual has the opportunity to fully participate in society. As part of this, we believe in rehabilitation. The Co-operative Bank is leading the way on work with 30 prisons to provide bank accounts to prisoners across the UK. Having a bank account is necessary, not only in tackling financial exclusion, but also in obtaining employment and accommodation, which are both key factors in reducing reoffending.
Independent research by Liverpool John Moores University has shown that prisoners who open bank accounts whilst in prison are much less likely to reoffend on release from prison.
Find out more about our Community Investment in The Co-operative's latest Sustainability Report.
