The ethical high street bank was praised for its range of financial products and high standards of customer service.
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The Co-operative Bank - Current Account Plus
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What's the deal?
The Co-operative Bank was awarded the title of Best Financial Services Provider at the Which? Awards 2009 held earlier this month.
At the awards the bank was praised for its maintained stability throughout current financial crisis, its ethical approach to finance and its high level of consumer-earned trust; not to mention its comprehensive range of current accounts, mortgages and savings products that offer what Which? refer to as 'value for money'.
What makes it great?
Unlike many industry accreditations, the Which? awards are completely independent and unbiased. In fact, customer feedback plays an important role in both award nominations and the final result.
As such, being awarded the highest accolade in the Financial Services category says a lot about the quality of service provided by The Co-operative Bank, both in terms of the products available and customer support.
As a co-operative - ultimately run by its customers and members instead of shareholders - the Co-operative Bank is able to operate on a fully-funded basis. This means that unlike the vast majority of other 'big name banks' it never loans out more money than it has in customer current and savings accounts.
As such it has remained largely unaffected by the tightening lending conditions that have characterised the 'credit crunch' and is therefore still able to offer very competitive deals to both new and existing customers.
Who would it suit?
The Co-Operative Bank offers a whole range of ethically-led financial products, from current accounts and mortgages to insurance and prepaid cards. However, what really helps them to stand out from the crowd is their tendency to offer straight forward deals that remain competitive over time, making it easier for you to manage your finances on an ongoing basis.
With a great range of products, great customer services and stable financing, it's no wonder that The Co-Operative Bank came out on top!
