'Ethical Schmethical… The Co-op’s new ‘Think’ ethical credit card' blog discussion

Former_MSE_Lawrence

This is the discussion to link on the back of Martin's 'Ethical Schmethical… The Co-op’s new ‘Think’ ethical credit card' blog. Please read the blog first, and then click reply to discuss.

Read Martin's 'Ethical Schmethical… The Co-op’s new ‘Think’ ethical credit card' Blog

guppy

Ikea??? The trainline??? Don't know about "ethical smethical"...I'd say ethical smollocks personally...

SonOfPearl

I used to have a Co-op current account many years ago, before I wised up to money saving, and it was pants. I admire the ethical sentiment (it was why I joined) but the reality is sadly more about marketing hype and brand positioning than anything else.

spook

Obviously the trainline, raleigh and arriva are included to promote using public transport & cycling.

Most of the others are ethical firms too. I think Ikea are reasonably good about sourcing timber from sustainable sources, but I'm not sure how ethical they are otherwise.

I think it's a bit harsh to bash the co-op so much - the rate is clearly not good, but as far as exploiting consumers I don't think it's in the same league as most of the 'charity credit cards'. Plus, the co-op does have a good track record as far as ethical investing goes, which is something that can't be said for amex and capital one. Or many other banks for that matter.

applecore_2

the co-op ..ethical?? thats the same as saying tree huggers shop at tescos only.

go into a co-op and ask your average joe on the till how much they get paid.. then ask them how much work they do!!.. then go ask a supervisor in the store how much they get paid and how much work they do!!

Sales Assistant: Minimum wage.
Supervisors: £1 over minimum wage.

Worst fairtrade retailer in my opinion (excessively over inflates prices of fairtrade goods)
Worst pay package for employees (in my opinion and i would know i have worked for them!)
Worst 'ethical' company i know... id go as far as saying ASDA is more ethical to its employees and fairtrade.

Lu_T

I am a Co-Op member and recently got some marketing stuff through the post encouraging me to take out a Co-op loan so that I could get points! I know the Co-op are very ethical with their investments, but this didn't seem like it fit with their claims as it was effectively encouraging people to get into debt - not something a responsible lender would do. Was not impressed!

EmehEm2005

May I make the following points:-

From the Co-op's website (http://www.co-operative.co.uk/en/corporate/groupoverview/ourvisionandaims/):

What is a co-operative?
A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise. (The International Co-operative Alliance Statement on the Co-operative Identity, Manchester 1995)

A consumers' cooperative is a cooperative business owned by its CUSTOMERS for their MUTUAL BENEFIT. It is a form of free enterprise that is oriented toward SERVICE rather than PECUNIARY PROFIT. The customers or consumers of the goods and/or services the business provides are often also the individuals who have provided the capital required to launch or purchase that enterprise.

The major difference between consumers' cooperatives and other forms of business is that the purpose of a consumers' cooperative association is to provide quality goods and services at the lowest cost to the consumer/owners rather than to sell goods and services at the highest price above cost that the consumer is willing to pay.

Mike

pisciesgirl

SonOfPearl wrote: »

I used to have a Co-op current account many years ago, before I wised up to money saving, and it was pants. I admire the ethical sentiment (it was why I joined) but the reality is sadly more about marketing hype and brand positioning than anything else.

I also have wanted to bank ethically and have known about the co-op, but as Martin says, it isn't so ethical. I did find though one that seems very good which is Triodos Ethical Bank, but unfortunately I'm just not in the position to open an account with 500 pounds. Why is it made so difficult to bank ethically I wonder?

fed_2

"Maybe" Trainline is ethical, but also appalling, dismissive, expensive useless in handling a problem and NOT TO BE USED.:mad: Why are they there?