We all have to fight to retain the Co-op Bank and mutualism. The motion was passed unanimously.
"This Greater London UNISON Regional Council expresses its deep concern at changes being
brought in at the Cooperative Bank at the behest of its new economic partners.
The Cooperative Bank was founded on principles of mutualism and ethical investment, principles enshrined in its constitution and articles of governance, and which neither can nor should be jettisoned on demand by banking institutions and hedge funds brought in to restore financial stability.
Moreover, the earlier merger of the Cooperative Bank with the Britannia Building Society means that the future of yet another building society based on the principles of mutualism is placed under threat.
This Regional Council believes that mutualism in banking and home loaning provides an honest and viable alternative to the “for profit” banking system, acting much more in the interests of UNISON members and their families rather than their big business competitors, and calls upon the National Executive Council to open discussions with the Cooperative Society to explore how we may work together to build a campaign to restore the principles of mutualism into the heart of the Cooperative Bank’s banking and building society operations".
(if this motion is passed and sent to any other forum then the wording should be changed accordingly)