Building a Union of Co-op Bank Customers

by SaveOurBank in Manchester

We did it
On 15th December 2015 we successfully raised £30,964 with 1509 supporters in 42 days

Forming a co-operative union of Co-op Bank customers, to fight for ethics and buy back a genuinely customer-owned stake from the hedge funds

by SaveOurBank in Manchester

You can only post a comment if you have backed this project. Support project


Brian 11th December 2015

As a Co-op Bank customer for over forty years and co-operative society member and activist from before that I am shocked and dismayed at the behaviour of our once fully co-operatively owned bank. I wish the Customer Union every success and we should all call individually upon the directors of the Co-operative Group to use the Co-operative's remaining 20% ownership of the bank to exert pressure for the reversal of the bank's decisions on Palestinian support groups and the Cuba Solidarity Campaign.

MarkEDunn 11th December 2015

I am glad you are looking for ways coop bank customers can keep the bank honest about it's co-operative and ethical heritage and taking those principles forward. It may be that eventually, the Co-op bank will see that it should have had direct input from individual customers (rather than the co-operative societies) much earlier on and really create something useful.

SaveOurBank 6th December 2015

An anonymous donor sent the following comment, and used us to place it on their behalf: "As an enthusiast for consumer co-operatives, I am excited by the model of a 'customer union' that the Save Our Bank team have conceived and designed. The idea seems to me to have huge potential, way beyond the Co-op Bank. I am confident that if it is properly set up and well publicised, the Union will succeed famously in its objectives. I also predict that its success will inspire customers of other businesses to establish similar unions. In the long term, I don't think it is an exaggeration to say that the idea has the potential to revolutionise our whole economy. I believe in this Union, and I think it is very important that it succeeds. That is why, even though I am not wealthy, I decided to pledge £500 out of my life savings to the start-up fund. I plan to live a long while yet, so hopefully £500 for life membership will prove to be good value! I'm uncomfortable, however, with the privileged access to the Save Our Bank team that appears to be on offer to those like me who donate £500. One of the things that make consumer co-operatives superior to public companies is democratic control: all shareholders are equal, and influence can't be bought."

Richard Alan Suter 5th December 2015

It is necesssary that customers should have a greater say in the running of all banks, and it is vital to pursue the Co-op's long-standing ethical policy at a time when global warming is such a threat

Rory Ridley-Duff 4th December 2015

Dear Cooperative Customer Union - I'm delighted to report that the members of the FairShares Association have voted to pledge £100 to the creation of the customer union cooperative. Who do I contact to provide the logo and URL for your Founders pages?

neilmc65 27th November 2015

Thanks for keeping me in the loop. Disgusted about the treatment of the Palestinian Support groups which if not remedied soon will have me leaving.

Genosse Pete 25th November 2015

Thanks indeed - we all want to keep a different type of bank which does not use our money for bad things and supports investments in ethical endeavours. (If the Palestinian story is at all true, this is reason enough to set up a union).

SaveOurBank 25th November 2015

We're very concerned about the closure of accounts of pro-Palestinian groups, and contacting the bank urgently on this. See quick statement here. http://www.saveourbank.coop/Palestine More on this soon. RB

steviewest 25th November 2015

The development with the bank closing the accounts of Palestine solidarity organisations shows exactly why we need this customer union.

Joannabornat 25th November 2015

No sooner do I make my contribution when I hear from the Palestine Solidarity Campaign that the Co-op Bank has closed its account. We are being urged to leave the bank in solidarity. I'm disgusted with the bank's action. What are others doing?

julesl 21st November 2015

Lots of small contributions build to something really powerful - I'm glad to be part of returning the Co-op to its ethical roots.

david-knight 13th November 2015

This is a great idea and happy to support it. I would love to encourage the coop movement to seek to buy back shares to regain a majority ownership of our bank.

Sue Thompson 13th November 2015

Excellent idea! This is my first dabble with crowd funding because your idea inspired me. Thank you for taking the trouble to do something positive like this

lucy-cordrey 13th November 2015

Thanks for all your hard work and for giving us a choice. Banked with you for ages and despite what has happened I still believe in you. Go bank Co-op!

Rewards

This project offers rewards in return for your donation.

£12 or more

£12 Reward

MEMBER: Your first year of membership of the customer union is paid for! This makes you a member of the co-operative and a co-owner of the Customer Union.

£20 or more

£20 Reward

FOUNDER: Your first year of membership of the customer union is paid for, and you can choose to have your name on our founder members page!

£50 or more

£50 Reward

SPECIAL GUEST: Your first year of membership of the customer union is paid for; you can choose to have your name on our founder members page; and you get an inclusive ticket to the first ever Customer Union Conference in 2016.

£100 or more

£100 Reward

OUR HERO: Your first year of membership of the customer union is paid for, you get an inclusive ticket to the first ever Customer Union Conference in 2016, and we will include your name, company logo and a link to your website on an Institutional Supporters section of our founder members page.

£500 or more

£500 Reward

LIFETIME MEMBER: Free lifetime membership of the Union, your name, company logo and a link to your website on an Institutional Supporters section of our founder members page, free ticket to the 2016 Save Our Bank / Customer Union for Ethical Banking conference, the chance to meet with the Save Our Bank Campaign Team to discuss the strategic direction of the Union..

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