Co-operative News
Co-op bids for Lloyds’ branches: Co-operative News
The Co-operative Banking Group has submitted a bid for the 632 Lloyds TSB branches that the state-rescued bank is being forced to sell under European Union competition rules. But Co-op Banking Group chairman Paul Flowers told the News that the proposal is low risk and is not ‘betting the bank’.
“The overarching strategy is still to [...]
Ethics in retailing: Co-operative News
Manchester’s hosting of the International Co-operative and Mutual Insurance Federation’s biennial conference was a great success. But amidst the presentations from chief executives of some world’s largest life and non-life insurers, arguably the stand-out contribution came from Nigel Waite, a consultant with the Canford Centre for Customer Development. He has been a marketing director with [...]
New York, New York: Co-operative News
The launch of the International Year of Co-operatives is an opportunity to take stock. New York was the obvious place for the launch, given that the Year has been declared by the United Nations – and its headquarters are in the ‘big apple’.
However, it would be understandable if many co-operators felt there could be [...]
Building society shareholders become bad bank bondholders: Co-operative News
Although building societies are owned by their members, some also have ‘shareholders’. However, building society shareholders have a very limited role – they are investors, with no additional votes beyond their status as society members.
Holders of building societies’ ‘permanent interest bearing shares’ (PIBS) are the equivalent of bondholders in a bank, or other company. And [...]
Saving energy by co-operation
The Energy Saving Co-operative has very big ideas. Its co-founder and would-be chief executive Ewan Jones says: “There is a £10bn annual market for retro-fitting homes and the co-op is aiming for at least 10% of this market. The demise of the Energy Saving Trust leaves a gap for the co-op. “
The concept for [...]
Presbyterian crisis benefits credit union members
The disaster of the Presbyterian Mutual Society is still causing ripples across financial services regulation in Northern Ireland. A gap in regulation between the Financial Services Authority and Northern Ireland’s Department of Enterprise, Trade and Investment meant there was no proper oversight of the Presbyterian – an industrial and provident society.
Members of the Presbyterian [...]
Mutual brings affordable housing to countryside
Two attractive new homes were completed over the summer in the small Shropshire market town of Bishops Castle. This is significant in a town that is so highly regarded by tourists that many return later in life to retire in the beautiful countryside on the border of England and Wales. The result of the influx [...]
Yorkshire leads the way
In recent weeks a series of ambitious initiatives has seen the Yorkshire Building Society not only cement its place as one the largest societies in the UK, but also establish itself as one of the most exciting and fastest growing mutuals.
Yorkshire Building Society is in fact now the second largest society, following its takeover [...]
Co-operative banks may weather crisis
Co-operative and mutual banks and not-for-profit savings banks have played an important role in the European financial system over the last century. Indeed, there remain several European co-operative banks that have a very strong presence in their domestic markets.
According to the latest figures published by the European Association of Co-operative Banks, the UK’s [...]
Mutualising the Post Office
The serious business of mutualising public services is now underway. A number of initiatives have recently been launched which are intended to turn traditional government operations and arm’s length bodies into mutuals.
‘MyCivilServicePension’ is the most contentious of these and one of the largest. Another scheme in preparation is for the audit arm of the [...]
