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Enough of 'Banks'! Goodbye Co-operative
Comments
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A simple rule: trust a bank, any bank, as far as you could spit their head office.The acquisition of wealth is no longer the driving force in my life.
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The Co-Operative Bank is in fact a PLC just like a lot of other banks. It just happens to be a PLC whose sole shareholder is the Co-Operative Group, which is a mutual.
Has to be formed as a PLC as it has preference shares quoted on the LSE. It is incorporated under the Industrial and Provident Societies Act rather than the Companies Act, i.e. it's a mutual. Mutuality is not incompatible with being a PLC.Ethical moneysaver0 -
I have come to the forum to see if I can some clue as to whether to go with the Co-Operative Bank given the news of the sale of part of the Lloyds TSB business. At present I don't know whether my branch is affected of course. From what I am reading here it seems to be sensible for me to stick with the devil I know.“The primary cause of unhappiness is never the situation but your thoughts about it.” Eckhart Tolle0
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