The Co-operative Bank

The Bank was formed in 1872 as the Loan and Deposit Department of Manchester's Co-operative Wholesale Society, becoming the CWS Bank four years later. However, the bank did not become a registered company until 1971. In 1975, the bank became the first new member of the Committee of London Clearing Banks for 40 years, and thus able to issue its own cheques.

The Co-operative Bank plc is a commercial bank trading as The Co-operative Bank in the United Kingdom and Guernsey, with headquarters in Manchester. It is an ethical bank, and refuses to invest in companies involved in the arms trade, global climate change, genetic engineering, animal testing and use of sweated labour as stated in its ethical policy. The ethical policy was introduced in 1992. In 2002 the Co-operative Group brought the bank and Co-operative Insurance Society under the control of a newly incorporated holding society, Co-operative Financial Services Limited.

A British bank with strong roots in the cooperative movement encounters declining profitability in an increasingly competitive and deregulated financial services industry. It attempts to grow by broadening its customer base and increasing the range of products and services offered. It turns to activity-based costing as part of its reengineering effort to learn more about the process and product costs and customer profitability, and contemplates what actions to take based on this new information.

A subscription-free current account featuring everything for your everyday banking needs:

• Fee-free £200 overdraft facility
• Dedicated switching service
• Linked savings account
• Open both accounts with one simple application
• To open and maintain an account you must pay in a minimum of £800 per month.

Save over £500 a year with a range of banking and lifestyle benefits:

• Worldwide family travel insurance
• Mobile phone insurance
• An automatic £200 interest and fee-free overdraft
• Privilege and Privilege Premier current account Smartsave card.

Everything for your everyday banking needs:

• cheque book and debit card
• standing order and Direct Debit facility
• option to arrange overdraft facility

Everything you need to manage your finances whilst you study:

• A debit card and cheque book - with £100 cheque guarantee card
• A £1,400 interest-free overdraft in year 1, rising to £2,000 in year 3
• The option of applying for a student credit card.

A basic account designed to give you maximum control over your money:

• No overdraft facility
• Electron debit card
• Standing order and Direct Debit facility.