Co-op alternative

opinions4u

Milarky wrote: »

Can I just say that as a former member of Britannia, I voted against it's takeover by Coop bank, not seduced by the 'lure' of food vouchers in exchange for 'our' CDOs. If a few more people had just voted like me then it might have ended quite differently for the Coop..........

:rotfl:

As most of the problems at Co-op come from poor quality Britannia assets I think the inevitable outcome of no merger would gave been Britannia going bust, PIBS holders losing everything and savers being paid out from the FSCS, with the help of a Treasury loan.

System

I also voted against the 'merger'.

Britannia made it abundantly clear that they didn't care about the members and they were only interested in saving jobs within the Leek HO.

Any illusions that BS' were run for members ended with that phone call.

jimjames

Milarky wrote: »

Can I just say that as a former member of Britannia, I voted against it's takeover by Coop bank, not seduced by the 'lure' of food vouchers in exchange for 'our' CDOs. If a few more people had just voted like me then it might have ended quite differently for the Coop..........

:rotfl:

Much the same as the takeover of KRBS by JC Flowers that I voted against. Incredibly with a little media exposure and blogging we managed to get within a fraction of a percent of blocking the sale so it's a shame Co-op managed to get Britannia and then this happens to it.