The Co-operative Bank has launched a £10,000 prize draw to celebrate a decade of being named the “Best Charity Banking Provider” by Business Moneyfacts. This initiative is aimed at both new and existing customers who have maintained qualifying balances in their accounts, offering them a chance to win a significant cash prize.
A Landmark Anniversary for the Co-operative Bank
The announcement of the prize draw marks a significant milestone for The Co-operative Bank. In 2025, the bank celebrates 10 years of being awarded the “Best Charity Banking Provider” by Business Moneyfacts. This recognition highlights the bank’s commitment to supporting charities, cooperatives, and other organisations in the social enterprise sector.
Customers who hold at least £5,000 in an eligible account will automatically be entered into the draw, provided their account remains active and valid by the deadline of July 31, 2025. For customers who have been banking with the Co-operative Bank for the full ten years, one additional entry will be awarded, enhancing their chances of winning.
The winner will be announced shortly after the draw closes, with the prize money intended to support the winning organisation’s community-driven initiatives.
Commitment to Ethical Banking and Community Support
The Co-operative Bank has long positioned itself as the original ethical bank, offering customers peace of mind that their funds will not be invested in unethical industries such as fossil fuels or oppressive regimes.
James Wall, Head of Charity Banking at The Co-operative Bank, remarked, “As the original ethical bank, we’re experts in supporting charities, co-operatives and organisations in the social enterprise sector to make a difference in their communities.”
Wall further emphasized that this prize draw presents an ideal opportunity for socially-conscious businesses to align with a bank that shares their values, particularly those committed to making a positive societal impact.
Customer testimonials have reinforced the bank’s reputation for understanding the needs of social enterprises. Chas Sargeant, Chair of Coniston Co-operative Society, expressed pride in the partnership, stating that the bank’s ethical stance and tailored services perfectly suit their organisational values.
Challenges Amid Branch Closures
Despite this positive initiative, The Co-operative Bank also faces challenges, with the announcement of 19 branch closures scheduled for May 2025.
According to Central Co-op’s CEO, Debbie Robinson, the closures are part of a strategic re-evaluation of branch performance, ensuring the bank’s resources are redirected towards growth and improvement in its digital and community offerings.
This decision comes as part of a broader trend in the banking industry towards increased reliance on digital banking services, which has been accelerating in recent years.
While these closures may raise concerns about accessibility, the bank remains committed to providing continued service to its customers through alternative channels, such as online banking and mobile applications.
