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Coop Pank raises contactless payment limit to €50

Thanks to their speed and convenience, contactless payments have become an inseparable part of everyday shopping.

Coop Pank introduced a new person identification system

Starting on 4 March, the clients of Coop Pank will be able to prove their identity by means of the video verification system on the basis of Veriff’s technology and will not have to go to the bank’s branch office in person to sign a small loan contract.

Subsidiary of Coop Pank actively enters the insurance brokerage market

Coop Kindlustusmaakler AS, the youngest subsidiary of Coop Pank established last fall that so far have acted as an intermediary in insurance matters only for current bank customers now offers insurance solutions to the general public.

Planned maintenance

Due to planned maintenance, there may be interruptions in the operation of the Coop Internet Bank and Mobile Bank from 2:00-5:00 on 25 February.

Estonia’s largest local government Pärnu City became a client of Coop Pank

Estonia’s largest local government Pärnu City became a client of Coop Pank, which makes it possible for the residents of Pärnu to make payments to the city government’s current account in Coop Pank in addition to the accounts in four other banks.

Coop Pank expanded the cash withdrawal and deposit service to credit cards as well

All private and corporate customers of Coop Pank can use their credit cards to withdraw and deposit cash at Coop stores from 13 February.

Coop Pank results for January 2020

Coop Pank’s financial results in January 2020:

Coop Pank displayed substantial growth for the third year in a row

Coop Pank's loan portfolio reached EUR 460 million in 2019 having increased by EUR 131 million or 40% over the year.

Planned maintenance

Due to planned maintenance, there may be interruptions in the operation of the Coop Internet Bank and Mobile Bank from 2:00-5:00 on 24 January.

Changes in declaration of income earned in 2019

Natural persons can start filing their tax returns again in the middle of February. Declaration of the income earned in 2019 will be somewhat different from previous years.

Coop Pank’s car leasing campaign has increased the sales of vehicles outside cities

Last October, Coop Pank started collaboration with Amserv to offer car leasing in the stores of Coop Eesti, which has increased the sales of new vehicles outside big cities. The cars to have been leased through the stores most often were Toyota RAV4 SUVs.

Change in private client price list as of 06 January 2020

New service  – Refinancing loan – is added to the price list. New price list is available here.

The price list for corporate clients changes from 02.01.2020

The main amendments to the price list are as follows:

Changes in the price list and general agreement terms and conditions of Säästukaart Pluss

Coop Finants AS informs that the price list and general agreement terms and conditions of Säästukaart Pluss will change as of 01.03.2020.

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 till 26th and January 1st, our offices and customer support will be closed.

Some 11,000 investors took part in Coop Pank IPO

The council of Coop Pank approved an initial public offering of the bank of 37.9 million euros at the price of 1.15 euros per share. In total, during the IPO, some 11,000 investors subscribed to almost 33 million shares of Coop Pank. According to the plan, exchange trading will begin on December 9.

Subsidiary of Coop Pank becomes an insurance broker

In August this year Coop Pank established a subsidiary, Coop Kindlustusmaakler AS, which will offer insurance products to customers.

Coop Pank will hold a conference webinar 18th of November

Coop Pank invites shareholders, investors, analysts and other stakeholders to join its conference webinar, scheduled on November the 18th 2019 at 16 pm (EET). Webinar will be hosted by board members of Coop Pank, Hans Pajoma and Kerli Lõhmus, who will introduce the bank’s strategic goals for upcoming 3 years and the initial public offering of the shares of Coop Pank.

Subscription to Coop Pank shares starts on November 18

On Tuesday, Coop Pank disclosed the conditions for an initial public offering (IPO) of its shares and indicated that the subscription period begins on November 18. During the IPO, Coop Pank expects to raise 37 million euros of additional capital to finance its development strategy, issuing up to 32.2 million new shares.

Owners of Coop Pank approved the IPO plans

On Friday, November 8, at an extraordinary general meeting, shareholders of Coop Pank approved a proposal to issue new shares during the initial public offering (IPO) and to submit them for public trading on the Tallinn Stock Exchange.

In October Coop Pank that is soon to go public received a record 2000 new customers

Coop Pank’s financial results in October 2019:

Now in Coop stores customers with Coop Pank cards can benefit from even better deals

Starting Tuesday, in its stores the largest Estonian retail chain Coop offers even better prices and a more profitable bonus points system to private customers who use Coop Pank cards.

Changes in price lists

The price list for private clients changes from 01.11.2019  due to the termination of issuing Coop Pank ID-cards from 1 November 2019. Bank’s ID cards expire on 29 November 2019.

Coop Pank’s card now allows users to deposit cash to their accounts anywhere in Estonia

The cash depositing service launched by Coop Pank in 140 Coop stores in the summer has been gradually expanded over the whole country, and now that Kilingi-Nõmme, Abja and Saaremaa have joined the network, the bank’s private and business clients can deposit cash to their accounts in any of 302 Coop stores.

Coop Pank’s profit over the third quarter increased by 31 per cent compared to a year ago, reaching 1.52 million euros

Coop Pank, which is based on Estonian capital, earned a profit of 1.52 million euros within the third quarter of this year, which is 31 per cent more than over the same period of last year.  In the third quarter, the bank significantly increased the amount of loans issued and deposits made and acquired a record number of clients.

The Jõhvi branch of Coop Pank is moving

From 29 November, the branch office will be located at the new shopping mall Jõhvi Pargikeskus, located at Pargi 30, Jõhvi.

Coop Pank increases security by adding automatic notifications for mobile banking

In the new version of its mobile banking software, Coop Pank has implemented notifications which allow transactions on your account to be monitored in real time on your mobile screen, which helps prevent bank fraud.

Coop Pank started offering car leasing in its stores

From the beginning of October until the end of the year, Coop Pank is collaborating with Amserv to offer car leasing in the stores of Coop Eesti, where customers will be able to see the most popular Toyota models as well as review leasing conditions and file a pre-filled leasing application on the spot.

Terms and conditions will change in December

The General Terms & Conditions, Privacy Policy and the Standard Terms & Conditions of Settlement Contract and Debit Cards of the bank will change as of 1 December 2019.

Conclusion of cash transactions will only be possible in euros

Due to small demand, Coop Pank will stop processing cash transactions in US dollars (USD) as of 16 November 2019.