Cooperative Financial Services launches ethical account

Cooperative Financial Services has launched a new ethical student account to cater for the increasing demand for eco-friendly financial products among consumers.

A spokesperson for the group said that four-fifths of respondents in a poll would prefer an eco-friendly product over a non-eco friendly product.

She added: "Customers in general are becoming increasingly aware of the importance of ethics."

Cooperative Financial Services also explained that when choosing a student account it was important for young consumers to assess the whole package rather than simply be won over by various free gifts which many of these packages afford.

Incorporating the Co-operative Bank (with Smile), Cooperative Financial Services commented how the Smile student account won the best online account at the 2006 Your Money awards.

The account provides 3.04 per cent AER interest and a free overdraft of up to £2,000.