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Amended principles of processing customer data to come into effect on 1 October 2022

On 1 October 2022 Coop Bank will update the principles of processing customer data. The main changes are as follows:

Changes in connection with Coop Pank’s banking plan travel insurance

The main changes are as follows:

Coop Pank to assess its loan portfolio climate impact

In order to determine the impact that its lending and investment activities have on the environment, Coop Pank has joined the Partnership for Carbon Accounting Financials (PCAF).

We stop accepting payments related to Russia and Belarus

Due to the sanctions regarding the Russian-Ukrainian war, from 19.08.2022 Coop Pank AS stops accepting payments from Russia and Belarus.

Changes to business client price list as of 1 September 2022

Coop Pank will be updating its business client price list on 1 September 2022.

Coop Pank started offering the possibility of fixing the interest rates on home loans

From Friday, July 1, 2022, Coop Pank started offering the possibility of fixing the interest rate on home loans for 5 years.

Changes to the Coop Pank price list and the standard terms and conditions of term deposit contracts

Coop Pank is set to make a number of changes to the price lists for its private and business clients and to the standard terms and conditions of term deposit contracts, of which the most important are as follows.

Coop Pank raises interest rates on fixed-period deposits to 2%

For the first time in the last five years, Coop Pank has raised interest rates on fixed-period deposits – for longer-term deposits, interest rates have doubled on average and now reach up to 2%.

Coop Pank will start sending IT devices for reuse

Coop Pank has entered into a cooperation agreement with GreenDice, which will refurbish and reuse Coop Pank's old IT devices.

Movement of payments and opening hours of branches during holidays

Due to holidays our offices and customer support will be opened till 2 p.m. on June 22. On June 23 and June 24 our offices and customer support will be closed.

Movement of payments and opening hours of branches during holidays

Payments between banks will not be transferred from 15th till 18th of April due to the public holiday. Payments within Coop Bank and instant payments system will be transferred as normal.

New leasing insurance helps in cases of job loss and accidents

Coop Pank is introducing the insurance that protects private individuals buying cars with the help of leasing against payment difficulties in the event of job loss and disability. Leasing insurance is provided by the bank’s subsidiary Coop Liising AS in cooperation with If P&C Insurance AS.

Subscription for Coop Pank bonds was exceeded by 1.7 times

Investors exceeded the subscription for unsecured subordinated bonds of Coop Pank, which ended last week, by 1.7 times. The bank took the opportunity to increase the volume of the issue to 10 million euros.

Coop cooperatives and Coop Pank support Ukrainians with €1 million

The regional cooperatives of Coop and Coop Pank support the operations of the Red Cross in Ukraine with €1 million to help people affected by the war with basic necessities.

Payments from Coop Bank to Ukrainian banks are free of charge

In order to make it as easy as possible for all natural persons and legal entities who would like to support the people of Ukraine, Coop Bank allows its customers to make payments to Ukrainian banks without any service charges.

Coop Pank issues subordinated bonds worth 8 million euros

On Tuesday, February 22, 2022, Coop Pank announced a public offering of subordinated bonds – it wishes to raise 8 million euros to increase the bank's capital and finance business growth.

Movement of payments and opening hours of branches during holidays

Due to holidays our offices and customer support will be opened till 2 p.m. on 23rd of February. On February 24th our offices and customer support will be closed.

Paavo Truu becomes CFO of Coop Pank

Today, on 16 February, Paavo Truu, who was previously CFO and a board member of Coop Eesti Keskühistu, will start working as CFO and a board member of Coop Pank.

Changes to terms and conditions of the fixed-term deposit agreements

As of 14 February 2022, Coop Pank will no longer be entering into fixed-term deposits in American dollars (USD). Existing deposits will remain valid until the term of each deposit expires.

Start of submission of tax returns and issuing of interest certificates

Natural persons can start submitting their tax returns as of 15 February. 2021 tax returns can be submitted to the Tax and Customs Board until 2 May 2022.

Coop Pank started offering a loan at 1% interest to help with the payment of electricity bills

Domestic bank Coop Pank has begun offering its customers a utility loan with an annual interest rate of 1%, which aims to provide an opportunity to defer payment of high heating and electricity bills to a period of up to six months.

Movement of payments and opening hours of branches during holidays

Due to holidays our offices and customer support will be opened till 2 p.m. on 23rd and 31st of December. On December 24th and January 1st, our offices and customer support will be closed.

Coop Pank financed the expansion of the metal business of Alexela Group

Alexela Group, active in the energy, industrial and real estate sectors, has expanded its portfolio of services in the metal business and acquired Vasar OÜ, the largest producer of electrochemical coatings in Estonia. The domestic bank Coop Pank helped finance the deal.

From 1 January 2022, the payment of interest in the price list of Coop Pank's corporate customer will change

From 1 January 2022, the price list of Coop Pank's corporate customer will change with regard to the payment of interest to current accounts.

Coop Pank expands its cash transportation service

In November, Coop Pank expanded its cash transport service by partnering with Hansab AS to offer merchants and other business customers dealing with cash the opportunity to choose the most suitable cash handling service provider.

Coop Pank started cooperation with the e-residency program

Every year e-residents establish almost 20% of all new Estonian companies and about 30% of all new Estonian start-ups. Coop Pank has joined the e-Residency Marketplace online platform, through which e-resident entrepreneurs can access the international banking services offered by a local Estonian bank.

Coop Pank adds COVID-19 coverage to its travel insurance

Coop Pank has added family coronavirus coverage to its travel insurance with a monthly payment, which covers travel cancellation costs, as well as medical expenses around the world caused by COVID-19.

Coop Pank updated the solution for consolidated payments for companies

On 28 September, Coop Pank updated the consolidated payment solution in its Internet bank, which creates additional options for making consolidated payments for entrepreneurs and makes confirmation of payments faster.

Temporary changes in the operation of Coop Pank's offices

On October 4th, Coop Pank's Tartu city center office at Ülikooli 4 will be temporarily closed. From 5th to 8th October Coop Pank's Tartu Lõunakeskus office will be temporarily closed.

Terms and conditions of travel insurance of Coop Pank banking plan change on 1 October 2021

The main changes are as follows: