Co-operative Bank launches 'ethical' credit card
Published on : 02/11/2007
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The Co-operative Bank has launched the world's first credit card aimed at rewarding consumers for "ethical purchases".
Called the think card, the product offers users a special interest rate of seven per cent when they shop at "ethical partners" to the scheme, including Ikea, Lush and trainline.com, in their first six months with the new card.
In addition, when the card is first used, consumers will have half an acre of Brazilian rainforest purchased and protected in their name by the Co-operative Bank.
Discussing the card, which has been created to encourage customers to buy fair trade products and become more environmentally aware, the company's chief executive David Anderson said the plan was "to reward" ethical customers.
He said: "We want to reward those customers who make ethical choices and encourage everyone to really think about how their choices impact the wider world, which is why we have developed the new think card."
The Co-operative Bank is a division of Co-operative Financial Services, which offers a range of service including savings accounts, loans and insurance.
