Campaign update: Saturday 26 October
In just two days the campaign has generated a huge amount of interest in social media and increasingly the mainstream media.
Negotiations between the hedge funds and the Co-operative Group are intense. This is demonstrated by the hedge funds’ claim today that “It is important to us that the bank maintains its unique characteristics and ethos” (Guardian). No-one trusts them of course – but we think it shows how this campaign is already having an impact.
Many people are asking how the bank could be re-mutualised. We are discussing this with experts we will, of course, keep you up to date. We would love to hear from anybody with legal or banking expertise.
Many people are worried about what the Co-operative Bank will become now the hedge funds appear to have grabbed a majority share. Especially those who bank with the Co-op because of who it is and what it stands for. Many will have looked at the alternatives – Nationwide, Triodos. If customers quietly leave the hedge funds will plough on regardless. But if we speak as one, just the threat of many people leaving at once will focus minds.
That’s what this campaign is about. Step one is to get ourselves together in one place. This site aims to act as a rallying point.
Over the next few days we’ll be spreading the word using social media. You can help by signing up to join our mailing list and liking us on Facebook.