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Ratings agency Moody's downgrades Co-op Bank and warns that it may need "external sup

Felix_Schalyz
Felix_Schalyz Posts: 36 Forumite
edited 10 May 2013 at 7:51AM in Budgeting & bank accounts
They may have to stick with food.
«1

Comments

  • penrhyn
    penrhyn Posts: 15,215 Forumite
    Part of the Furniture Combo Breaker
    The MD has resigned, we want information. In fairness the Coop only claimed to be good with food.
    That gum you like is coming back in style.
  • wiseshark
    wiseshark Posts: 288 Forumite
    penrhyn wrote: »
    The MD has resigned, we want information. In fairness the Coop only claimed to be good with food.


    They also claim to be 'good with money'
    You may question anything I say. Just be polite, otherwise you go straight on to my Ignore List, which funds a good old fashioned knees-up every Xmas. Cheers;)
  • ColdIron
    ColdIron Posts: 10,332 Forumite
    Part of the Furniture 10,000 Posts Hung up my suit! Name Dropper
    edited 10 May 2013 at 10:07AM
    Does the Co-op now rue Britannia?

    Edit: Geddit? :)
  • joff23
    joff23 Posts: 1 Newbie
    Wondeing if I have to start looking for a new bank and how safe is my savings ?
  • buzi
    buzi Posts: 139 Forumite
    i see in a bbc news article its been downgraded to "junk" status :eek:

    http://www.bbc.co.uk/news/business-22477745
  • ColdIron
    ColdIron Posts: 10,332 Forumite
    Part of the Furniture 10,000 Posts Hung up my suit! Name Dropper
    The Co-op have given donations to the Labour party for decades which is why I'll never bank with them
  • System
    System Posts: 178,439 Community Admin
    10,000 Posts Photogenic Name Dropper
    Kinda of a shame but tried them and found them to slow and antiquated.

    Hopefully they will call in labour's sizeable overdraft before running to the taxpayer! We're already supporting enough crooks and deadbeats

    In terms of 'external support' I figured that (at least part of the reason) they were trying for the TSB for the additional capital it provided?!Maybe another mutual like Yorkshire or Nationwide will rescue them?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • MatchPoint
    MatchPoint Posts: 3 Newbie
    just saw this news this morning, i opened an account with them after declaring bankruptcy in 2008 as noone else would let me, i have about 10k in the account, its just a basic account, i am abit worried now, should i take all my money out? maybe transfer it to my dads account?
  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    MatchPoint wrote: »
    i have about 10k in the account, its just a basic account, i am abit worried now, should i take all my money out? maybe transfer it to my dads account?

    Your money is safe. :)
  • ColdIron
    ColdIron Posts: 10,332 Forumite
    Part of the Furniture 10,000 Posts Hung up my suit! Name Dropper
    Your cash is safe but if it's all sitting in a current account at 0% interest I'd take a lot of it out and find a better home for it
This discussion has been closed.
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