Co-op Bank to poll customers

By JO THORNHILL
Updated:

 

THE Co-operative Bank has announced it is to poll its two million customers on their views as part of a plan to update its ethical policy.

Manchester-based Co-op Bank places great importance on its ethical stance and says a third of all its new customers join because of its policy in this area.

The bank plans to collect the views and opinions of customers on a range of topics from genetically-modified food, animal testing and welfare, to human rights and the arms trade. The results will be published in May 2002 - to coincide with the tenth anniversary of the bank's first ethical policy document.

Its policy document was last changed in 1999 to include issues on arms dealing and torture equipment. Co-operative Bank, which owns internet bank Smile, hopes that its survey, which will be sent out in October this year, will act as a barometer of customers' ethical concerns and will help guide the bank's future policy statement.

The importance of ethical banking and investing has grown significantly in importance among consumers in recent years, with the financial services industry being increasingly forced to listen to environmental and ethical concerns.

A survey conducted by public relations company Weber Shandwick, has revealed that business leaders are more frightened of environmental and consumer groups than they are of legislating ministers and trade unionists.

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