Co-op Bank sees 40% increase in personal savings

The Co-operative Bank reported a 40% increase in personal savings in 2008.

The Bank has confirmed that its strong ethical policies have helped underpin its strong business performance.

Not only have personal savings increased, there was also a 65% increase in current account opening and a 15% growth in customer lending.

Co-op Bank also reported lower bad debt charges in 2008 compared with 2007.

Personal loans from the bank are currently available at 8.9% APR typical on loans of £7,500 to £19,950. There is no arrangement fee and the loan can be spread over 1 to 7 years.

The Bank has confirmed it will continue to lend responsibly. Over a quarter of the Bank’s corporate and business ‘lending’ will support social and enviornmental organisations.

Since it launched its Ethical Policy in 1992, Co-op Bank has turned away over £1 billion of unethical business.