More than a banking decision: a question of stewardship

This article was kindly written for us by The Co-operative Bank: www.co-operativebank.co.uk.

For churches and faith organisations, stewardship is about more than how money is spent. Every pound entrusted to a church carries a responsibility to use resources wisely and in a way that reflects Christian values.

That raises an important question: does the bank holding your organisation’s money reflect the same principles that guide your mission and ministry?

For many years, ethical banking was seen as a niche consideration. Today, however, more churches, dioceses and Christian organisations are asking whether their banking relationships align with their values. They are looking for banks that take clear positions on issues such as climate change, human rights, social justice and responsible business conduct – not simply through statements of intent, but through the decisions they make every day. That is where The Co-operative Bank has sought to be different. In 1992, we became the first bank to introduce a unique, customer-led Ethical Policy and remain the only bank with one today. The policy has been shaped by more than 370,000 customer responses over the years and sets out both the activities we will support and those we will not.

Our customer-led Ethical Policy includes commitments not to provide banking services to organisations whose activities contribute directly to fossil fuel extraction, the manufacture of indiscriminate weapons, serious human rights abuses, irresponsible gambling or payday lending. It also commits us to supporting action on climate change, human rights, social justice and community development. These commitments are not simply historical principles; they continue to influence our decision-making today. In 2025, prospective business customers were reviewed as shown below, with some declined banking services where activities conflicted with the Bank’s ethical standards. We have seen direct declines reduce over the years as the sort of organisations that we refuse to do business with have begun to understand that our strong stance is more than just words on a page.

Importantly, choosing an ethical bank does not mean compromising on capability. Purpose-led organisations need experienced relationship support and confidence that their funds are being managed by a stable and well-governed institution. The Co-operative Bank, now part of the Coventry Building Society Group, supports millions of personal and business customers and continues to provide specialist banking services for charities, co-operatives and other purpose-led organisations. The Group’s purpose is simple: “We power good with every pound.”

Our commitment to ethics also extends beyond lending decisions. We work with partners including Shelter, Centrepoint, Friends of the Earth and Amnesty International as part of a long-standing belief that businesses can play a positive role in addressing social and environmental challenges. It’s what we do best because we’ve been prioritising purpose for decades; and long before it became a marketing tactic for other organisations.

For churches considering whether their current banking arrangements still reflect their values, the question is not simply where money is held but whether the organisations entrusted with those funds are helping to build the kind of society and future that faith communities seek to support. As more of you review how your resources can be used faithfully and responsibly, ethical banking should be one of the most important parts of that conversation. The good news is that there is a credible alternative – one built on more than 150 years of putting ethics at the heart of banking.

If you would like to discuss this further contact Michael Muzanechita by email:

Michael.Muzanechita@co-operativebank.co.uk

Mobile: 07764688841