petej + co-operativebank   79

Co-operatives: the people's movement | Comment is free | The Guardian
"The sensible lesson from this sad tale is that mutuals may have limits and should probably test them by growing organically rather than by hubristic capitalist-style merger and acquisition. The foolish one is to declare that the mutual model itself is broken. It's easy to mistake the Co-operative Group for the co-operative movement. In fact, it accounts for just over a third of the value. There are 6,000 co-operatives in the UK alone, and a new one sets up each day. Credit unions have a million members. Two-thirds of Scotland's farmers are in co-operatives. The weakness of the Co-op bank wasn't that it was a co-operative, but that it was a bank."
FlowersPaul  banks  banking  cooperatives  finance  ethics  Co-operativeBank 
november 2013 by petej
Coppola Comment: Under the radar
It is all too easy for customers, regulators and politicians to be lulled into a false sense of security by bank management that is determined to hide the real state of affairs. The Co-Op Bank to my mind has systematically deceived everybody. It is unfortunate that a bank which commands such loyalty among its customer base should now have such a tarnished image. I hope that the new team cleans up its act. Because if it does not, it does not deserve the support of its customers. And the UK's banking sector would be the poorer for the loss of such a distinctive brand.
banks  banking  ethics  transparency  Britannia  finance  dctagged  dc:creator=CoppolaFrances  Co-operativeBank 
june 2013 by petej

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