The Co-operative Bank has long been regarded as a Leader in ethical Banking and we understand that simply having diversity in our work force is not enough; we must create an inclusive environment where ALL people can contribute their best work and be their authentic selves. In late 2019 we wanted to enhance our Inclusive Community and Culture and so invested in the appointment of an Equality, Diversity and Inclusion (EDI) Lead.

The EDI Leads initial task was to create and design an EDI strategy that would launch early 2024, aligning our goals with our values and ethics, ESG strategy and strategic cultural aims reflecting the colleagues and communities we engage with.

Creating an ethical workplace and culture for all our colleagues is one of our commitments within the 3 pillars of our Ethical policy (Planet, People & Community) along with our values of “We Take Responsibility, We Do the Right Thing, We Step Up, We are Stronger Together”.

With a continued focus on EDI we have implemented initiatives that have driven positive changes within the bank including improving gender balance and building an inclusive culture. The Bank’s EDI Lead role has been key in working with Senior Leaders and key stakeholders to deliver practitioner advice and guidance whilst supporting the development of internal colleague policies, practices and EDI provisions.

In early 2024 the Bank launched its foundational three year strategy to provide structure for progress and development of EDI activity to meet regulation, raise reputational status, achieve recognised accreditations and make a real difference to colleagues and ultimately customers.

Our ambitious strategy drew on ten initials themes:-Strategy, Data & Insight, Policy, Governance, Risk, Colleague Networks, Learning & Development, Regulatory Reporting, Recruitment and Communication. All themes were to be addressed over the three year term although, many of the initial ambitions have already been realised and continue to be progressed.

In a recent colleague pulse survey our workforce response was 93% to the question, “I am fully aware of our EDI approaches”. Which is testament to what we are achieving through our EDI Strategy and provisions to EDI Matters.

We all know that data is essential to support making good and right decisions and as we didn’t have this in place at the Bank to sufficient value for our goals this was an initial priority. A Workforce EDI Data Gathering Campaign followed to create EDI Dashboard to support EDI Strategy, action planning and regulation requirements which is now in operation and being fully utilised.

In addition, it appeared that there was no sector EDI Network in place for EDI Practitioners to discuss current topics, share best practice and connect through. Working in collaboration with the Bank Workers Charity the Banks EDI Lead created a sector Network that now operates as a joint venture with the Charity to offer this space for EDI representatives of over 20 UK Finance organisations.

It has been a challenging 18 months from the inception of the EDI Strategy through Organisational re-designs and the Bank being acquired by the Coventry Building Society, but progress is consistently being made and positive change is evident we are making a difference. Our colleagues have a new and revived focus on doing the right thing for all. We continue our focus on EDI activity and build on the strengths we have developed to achieve a fully realised strategy with plans already in motion to enhance our next EDI activities.