MoneySupermarket.com has named The Co-operative Bank as the Best Current Account Provider in the UK. The recently established ‘Supers’ awards consider The Co-operative Bank to be a market leader in terms of innovation and customer service. Robin Taylor, Head of Banking at The Co-operative Bank, said that the award success was indicative of the firm’s [...]
Lloyds Banking Group has named Co-operative Group as its preferred bidder for the 632 branches that it needs to sell under EC competition rules. The bank says it will now progress more detailed exclusive discussions with the Co-op, with the aim of agreeing heads of terms by the end of March 2012. At this stage, [...]
The Co-operative Bank has commissioned research which reveals that less than half (42%) of Britons saved for Christmas this year. The survey reveals average savings of £423, with men saving £460 for Christmas and women £400, on average. Regionally, the foremost saving areas were London, Northern Ireland and the North East, and those saving least [...]
Despite banks being blamed for our economic woes, their retail customers are happier with the service they receive than a year ago, according to the J D Power and Associates 2011 UK Retail Banking Satisfaction Study. HSBC’s First Direct takes first place with a score of 774, followed by The Co-operative Bank (734) and Nationwide [...]
Moody’s has today downgraded the senior debt and deposit ratings of 12 UK financial institutions and confirmed the ratings of one. The firm says its has reassessed the support environment in the UK in the light of “announcements made” and actions already taken, which have “significantly reduced the predictability of state support over the medium [...]
The Co-operative Bank has launched a new Select Access Saver account, featuring a rate of 2.25% gross. All UK residents aged 16 and older are eligible, and a minimum deposit of £500 is required to open an account. The Co-operative Bank has designed the account to combine a high rate of interest with accessibility, as [...]
Co-operative Financial Services has been renamed Co-operative Banking Group, operating under both The Co-operative Bank and The Co-operative Insurance brand names. The change comes alongside a revamp of its Britannia branches that will enable more customers to open accounts and carry out everyday banking activities on the High Street. The move will give Co-operative Bank [...]
Co-operative Financial Services turned in an acceptable performance in the six months to the end of June 2011, recording underlying operating profit of £131.3 million (2010: £109.3 million), and a 6.4% rise in gross revenues, to £1.33 billion. The group has also announced that full-servicing of current accounts will be available from September at its [...]
Co-operative Financial Services (CFS) has agreed a distribution deal with AXA Wealth that will see AXA offer financial advice to the mutual’s five million retail banking customers. The seven-year agreement will deploy 325 advisers across the CFS branch network. AXA Wealth provides similar services to Clydesdale and Yorkshire Banks but its offering through Co-op Bank [...]
The Co-operative Group has announced that it is suspending its advertising and promotional activity in the News of the World. The suspension will last for the duration of the investigation into the phone hacking scandal. In a press release, the Co-operative Group asserted its strong ethical standards and stated that the members who had contacted [...]
The Co-operative Bank has conducted research which reveals that four out of five Britons are worried about their finances. Personal debt and utility/energy bill price hikes are equal top of the list, with 21% of people concerned about them (each). The rising prices of fuel and food are also major concerns (15% and 11% respectively), [...]
The Co-operative Bank has announced that it has launched a pair of new accounts, in partnership with Chelsea Football Club. The Bank’s Current Account Plus has been created for Chelsea supporters and includes a fee-free overdraft, with no monthly subscription charge. Fans taking advantage of the account will also benefit from a gift card that [...]
Research commissioned by The Co-operative Bank reveals that three in four women will not embark upon impulse buying this year. The findings also show that three in five women intend to spend less on clothing in 2010 and four in ten less on fashion accessories and eating out. The continuing difficulties of the economy, which [...]
Co-operative Financial Services (CFS), now merged with Britannia Building Society, has reported pre-tax profit of £81.4 million for the 28 weeks to the 25th July, up from £73.4 million in the same period of 2008. The £8 million increase represents a gain of 11% although profit from the group’s banking activities dipped to £41.7 million, [...]
The Co-operative Bank has released research findings which suggest a further strengthening in the UK housing market. Of those asked 35% of sellers would be unwilling to lower the asking price to would-be buyers hoping to acquire a bargain. However, only 12% of buyers indicated they would be prepared to pay the full asking price [...]
Co-operative Financial Services (CFS) has completed its merger with Britannia building society to create a super mutual with assets of over £70 billion. According to the parties, the move also delivers a “trusted and ethical alternative to shareholder-owned banks”. The new business combines Britannia’s high street presence and savings and mortgage expertise with the banking, [...]
Co-operative Financial Services (CFS) has reported that its banking division posted a 70% rise in underlying profit in 2008. Underlying earnings increased to £85.6 million in the year to 10th January, up from £50.4 million in the previous twelve months. CFS accounted for the impressive result by referring to its “cautious and responsible” approach to [...]
