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Co-op Bank Aquires 632 Lloyds High Street Branches

20 Jul

This is not one of my normal foodie tales, but if this acquisition does go through, I wonder if it might be a help to many producers who are no longer having the happy relationship they used to have with their banks.  So often I hear tales of banks saying ‘of course we’ll lend you an umbrella, but only when it is not raining and then of course there are fees………’

Many of our Best Of Welsh & Border producers would love to return to the good old banking days, days when you had a manager that not only knew your business, but actually knew you by face. Instead what the big four offer is endless box-ticking, foreign call centres, and as for a manager – they are few and far between.

Ethical banking, is a label that would make most of us laugh until out sides ache, but say ethical banking about the Co-op and you’ll find people agreeing and praising the Co-ops standards and credentials. Could this be the much needed breath of fresh air
that our banking industry needs and our SMEs are so desperate for.

As the Co-op is so strong on Fair Trade, I hope that this new retail arm of the Co-op markets and promotes themselves sensibly to micro and small businesses and gives them the support that few other banks have been bothered to do in the past. If they can achieve that then the Big 4 Banks will suffer and not before time in my view…….

Please do let me know your experiences with the Big 4 Banks and your view on the Co-op banks too

 
 

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  1. producer

    July 24, 2012 at 11:10 am

    the big four banks, like wag food department are now in a position to bully despite the mess they have put our country in
    I’m certainly going to try co-op but hope they understand micro and small businesses unlike our food department