The ‘think’ card will offer consumers a lower rate of interest for designated ethical purchases and a package of other benefits, whilst at the same time also helping to save the rainforest.
Customers who use the card at selected ethical partners, including Ikea, Lush, Adili.com, thetrainline.com and selected businesses within the Co-operative Group, will receive a special rate of interest of 7% pa for six months following the date of each purchase.
The think card will allow customers to make an immediate difference to the environment. The first time the card is used, the bank will arrange for half an acre of Brazilian rainforest to be purchased and protected in the customer’s name.
David Anderson, chief executive of the Co-operative Bank, said: According to our own ethical consumerism report, conscious spending has been increasing at an average of 15% a year since the start of the decade and all the signs are that this growth is set to continue.
