Should I leave the Co-Op Bank?

starfish_chimp

Not for personal financial reasons - I only have a basic bank account, but because of recent events.

1. Poor performance including financial recklessness endangering the foundations of the bank.

2. Press coverage of ex-Chairman, sounds like someone who should not be in charge of a bank, even if paid only £130 K (not much surely for Chair of a Bank?). Not so much because of recreational drug use around time of giving evidence to Govt committee, but because of hypocrisy e.g. chairing Anti-Drugs govt campaign.

3. Is being a cipher for the Labour party an issue? I like idea of bank which supports ordinary people but don't like the recklessness and opportunism of Labour party of the last two decades.

Should I leave? Feel surprisingly sad at prospect, as very happy for 10 years with Co-Op and always had wonderful service, but given above is it time to move on? Any recommendations?

Honest replies welcome.

Archi_Bald

Only you know whether you dislike them enough to try your luck elsewhere.

opinions4u

starfish_chimp wrote: »

1. Poor performance including financial recklessness endangering the foundations of the bank.

That rules out just about every bank and building society in the country.

2. Press coverage of ex-Chairman, sounds like someone who should not be in charge of a bank, even if paid only £130 K (not much surely for Chair of a Bank?). Not so much because of recreational drug use around time of giving evidence to Govt committee, but because of hypocrisy e.g. chairing Anti-Drugs govt campaign.

Ex-chairman isn't in charge of the bank. So this is a non-issue now.

3. Is being a cipher for the Labour party an issue? I like idea of bank which supports ordinary people but don't like the recklessness and opportunism of Labour party of the last two decades.

Their political donations are nil. Their overdraft rates for Labour are cheap though.

Should I leave? Feel surprisingly sad at prospect, as very happy for 10 years with Co-Op and always had wonderful service, but given above is it time to move on? Any recommendations?

Honest replies welcome.

While they continue to provide the service you want, stay.

kirkbyinfurnesslad_2

Do you get cocaine with every counter withdrawal?

Wilkins

Although I liked the idea of the Co-op Bank's ethos and it was one of attractions when I joined, frankly that died many years ago when they started to try to sell you stuff in branches ("Have you had your review . . .?")

However, I, too, am a satisfied customer. The telephone help has always been good, they didn't charge me when I went overdrawn, and the Internet service, albeit a bit clunky, has been fine. The fact that, all along, it turns out to have been run by bankers (or in some cases, non-bankers) does not greatly upset me.

I feel no inclination to move, yet.

Archi_Bald

kirkbyinfurnesslad wrote: »

Do you get cocaine with every counter withdrawal?

Wilkins wrote: »

I, too, am a satisfied customer.

Sounds so, lol.

(sorry, I'll get serious again in a minute).

Archi_Bald

opinions4u wrote: »

Ex-chairman isn't in charge of the bank. So this is a non-issue now.

Clean-up still in progress, though
http://www.bbc.co.uk/news/uk-24998955

opinions4u

Michael2391 wrote: »

Ive heard santander are great for overall banking

Don't believe half of what you see and none of what you hear.

Wilkins

Archi_Bald wrote: »

Sounds so, lol.

(sorry, I'll get serious again in a minute).

:rotfl::rotfl::rotfl:

CLAPTON

starfish_chimp wrote: »

Not for personal financial reasons - I only have a basic bank account, but because of recent events.

1. Poor performance including financial recklessness endangering the foundations of the bank.

2. Press coverage of ex-Chairman, sounds like someone who should not be in charge of a bank, even if paid only £130 K (not much surely for Chair of a Bank?). Not so much because of recreational drug use around time of giving evidence to Govt committee, but because of hypocrisy e.g. chairing Anti-Drugs govt campaign.

3. Is being a cipher for the Labour party an issue? I like idea of bank which supports ordinary people but don't like the recklessness and opportunism of Labour party of the last two decades.

Should I leave? Feel surprisingly sad at prospect, as very happy for 10 years with Co-Op and always had wonderful service, but given above is it time to move on? Any recommendations?

Honest replies welcome.

the co-op has always sponsored labour MPs : they are referred to as Labour and Co-op MPs e.g. Ed Balls

Lansdowne

CLAPTON wrote: »

the co-op has always sponsored labour MPs : they are referred to as Labour and Co-op MPs e.g. Ed Balls

Not really, this means they are members (as well as Labour) of the Co-operative Party which is a registered party supporting the sort of co-op values that the poster supports. The party get some funds from co-ops around the country but the Co-op Bank as such isn't relevant to this.