The Cooperative Bank's sister company, the Cooperative Insurance Society (CIS), has launched the first ethical stakeholder child trust fund.
The new fund is also the brainchild of The Children's Mutual, the UK's only child savings specialist, and has the full support of the government.
The fund conforms to the Sandler stakeholder suite of products, and is invested in the CIS FTSE Four Good Tracker Trust.
"The child trust fund initiative will give young people a financial head-start into their adult lives, whatever path they decide to take, safe in the knowledge that their funds placed with CIS are invested in an ethical manner," said Martin Clarke, director of life and savings at the CIS.
David White, chief executive of The Children's Mutual, added: "We believe that the child trust fund will be a catalyst for the development of a long term savings culture in the UK, and we are delighted that CIS will be one of the organisations helping to lead that development."
The fund will be available from CIS financial advisers, Cooperative Bank branches nationwide, and via telephone helplines open 24 hours a day, seven days a week.Click here to find out more about ethical and child investment. A>
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