Have your say on bank’s ethics

BANKS may be suffering the credit crunch but Oldham savers with the Co-operative are being asked to think about ethics instead.

The Co-operative Bank is transforming its Oldham branch into a polling station as part of a massive customer consultation exercise to update its ethical policies.

Account holders visiting the branch in Market Place will be asked to vote on various ethical issues throughout October.

Customers will have the chance to complete a questionnaire on a wide range of topical issues such as human rights, international development, ecology and social enterprise. They will be asked if they support the bank’s proposal to refuse to finance those engaged in the distribution of fuels with global warming impact, such as tar sands and certain biofuels.

And the bank is proposing to extend its policy on human rights to include the manufacture or transfer of cluster bombs and depleted uranium munitions.

Customers will be asked if they agree that the bank, which already avoids companies involved in animal experimentation for cosmetic or household products, should extend its policy to cover organisations involved in the exploitation of great apes for experimentation or general commercial use.

Chief executive David Anderson said: “Our policy has always been at the cutting edge and we wish to remain a progressive business voice but we cannot do that without the support of our customers.

“We appreciate that these are difficult ethical issues but we make no apologies for putting them in front of our account holders.“

The bank will analyse the results of the questionnaire before publishing an updated ethical policy in the New Year.