cooperative bank & labour

huw01

A lot of people seem to talk highly of the cooperative bank's ethical status etc. However, can someone tell me what relationship they have with the labour party.

I'm led to believe that they provide banking services to them, but do they also support or donate money to them. Also are there any other banks that support political parties ?

Any light on the matter would be greatly appreciated

Thanks

realaledrinker

The parent company, The Co-operative Group Limited, donate to the Co-operative Party and the Labour Party. They are open and honest about it so do not see why this can be described as 'unethical'?

More relevant perhaps is their Ethical Plan and Sustainability report which details their ethical stance on a wide range of issues in more detail

http://www.co-operative.coop/join-the-revolution/

http://www.co-operative.coop/corporate/sustainability/

JuicyJesus

They part own Unity Trust Bank, which provides banking services to (amongst others) trades unions. But that's about it.

The Co-operative Group does provide funding to the Co-operative Party, who do not stand their own candidates and instead stand as Labour. Ed Balls is in this group. That's more or less it.

datostar

The Labour Party has an enormous overdraft with the Co-op Bank which I don't suppose they'll ever call in. I don't mind their misguided politics so long as they provide a decent banking service. I do actually approve of the Co-operative Movement.

glennc1981

The Co-operative Party are their own party. They have their own National Executive and they are funded independently. They do however, run alongside Labour and in pretty much every occasion you see a Co-operative member running they'll be listed as "Labour Co-op".

I'm happy to call myself a member of both parties. I've always been pretty left wing and I love the idea of co-operatives too.