The Save Our Bank campaign continues to build momentum, with the help of our fantastic supporters. Hundreds emailed friends and family as well as tweeting and facebooking their support – thank you!
If you know anyone you think may be interested in joining the campaign please email them now – forward this message and ask them to visit http://saveourbank.coop
Discussion on where the campaign should go next has been lively. In response to our survey, over 1,700 supporters have given us their views on the where the Save Our Bank campaign should focus its attention next, what's most important and how to proceed.
We’ll be using this information to decide our priorities for the next phase in the campaign.
Here’s what respondents told us.
- 79% agree with us that The Co-operative Bank’s Ethical Policy needs to be embedded in its constitution
- Asked where we should focus first, 50% said we should focus on making sure the bank sticks to its Ethical Policy - but 47% want to focus on ownership first
- 71% said that the only way to guarantee the ethics is through mutual control
- Over 80% said they will switch unless our demands are met. And for half of that number, that means both keeping the Ethical Policy and a return to mutual control
- Astonishingly, a clear majority (63%) said they would be prepared to invest to help re-mutualise the bank
It’s clear that both of the campaign’s demands are critical for our supporters, and we’ll be putting these demands to the bank in the coming days.
You can read the full results here.
It now seems certain that the recapitalisation deal will go ahead.
Although some bondholder votes are still to be counted before today’s final deadline, so far a large majority of retail bondholders have voted to accept the recapitalisation deal, meaning that private investors, including some hedge funds, will own a majority of the bank’s shares. In that situation, thousands of customers signed up to Save Our Bank can have real influence. That’s why we continue to say, stick together, don’t switch yet.
We’ll be taking stock of the final result and your views, and will send an update on the way forward next week.
Help us spread the message
In the meantime, please continue to spread the word to more Co-op Bank customers about the campaign.
Please Forward this email to anyone you know who might bank with the Co-op, and ask them to pass it on.
If you're a social media user then
Tweet now, asking people to visit our site and sign up to the campaign:
Thousands of customers together can make #CoopBank stick to its principles- support #saveourbank campaign, sign up at http://saveourbank.coop
Contact your Facebook friends and ask them to sign up to the campaign:
Now Co-op Bank deal is going ahead it's even more crucial that customers join the Save Our Bank campaign and make the Co-op Bank stick to its ethical principles - sign up at http://saveourbank.coop