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Thousands of members of the Co-operative Bank are being mobilised to ensure it stays committed to “ethical banking.”
Save Our Bank campaigners issued a five-point ethical programme this weekend which they are calling on the bank to embrace. It includes fair pay for staff and an end to fat-cat bonuses.
The campaigners have urged 10,000 supporters to put forward the demands in the bank’s consultation with customers to be launched in the next few weeks.
A spokesman said: “The bank’s consultation on its ethics is fast approaching.
“Let’s make sure they are in no doubt about what we are asking for.”
The fight for the future of the Co-Op comes after it was thrown into turmoil when a £1.5 billion “black hole” was created by a disastrous expansion.
The bank had to be bailed out by private investors and lost its status as a member-owned “mutual.”
Co-op customers launched a Save Our Bank campaign aimed at regaining mutual status and, in the shorter-term, to preserve its commitment to ethical banking.
They are calling for rules over who the bank does business with, independent monitoring of ethical practices and an ethical pay policy for staff.
The spokesman said: “Save Our Bank supporters have made it clear that they will leave if the bank’s ethics are watered down.
“They joined the campaign because they would rather stay with a bank they can be proud of — bold, campaigning, and leading the way on ethical, responsible banking.”
More information can be found at saveourbank.coop.
