Coop Bank

[winner69]

The anti-captalist side of me says support these guys to the utmost - they have some of my term deposit money already

I like the idea of a co-operative and in these days where greed has brought the world to its knees it is good to see an outfit like this trying to do well .... by sticking to what it was formed to do in taking in deposits and lending wisely and safely .... and no big treasury department gambling with depositirs money.

I'm one of (quote from linked article) "New Zealanders interested in its values of sustainability, wellbeing of people, and localising profits."

Co-op Bank for me - yes


http://www.stuff.co.nz/business/money/7763539/New-bank-overdue-for-marketing-as-alternative

[craic]

This is the old Public Service Investment Society and has been my main bank for about 45 years - my salary was paid into PSIS. I always found them easy to deal with and their rates to be fair.

[winner69]

My wife was a member once and we got a PSIS mortgage from them years ago ....cheaper than the banks but still around 20% in those days

I think the co-op concept will regain real credence again ....once sensibility returns to the world

[skid]

I wonder if ,with a bank like this ,the depositors would be first in line if things went pear shaped.
Ive been reading some disturbing reports of the large Australian banks selling bonds to the Europeans to raise finance,which gives them priority over the spoils if things go wrong-ahead of the people with money in the actual bank deposits!!