The financial climate - your questions answered
Is what happened to Northern Rock or HBOS likely to happen to you?
- How do I know my money is safe with The Co-operative Bank p.l.c.?
- Will The Co-operative Bank p.l.c. encounter problems in a recession?
- Is what happened to Northern Rock or HBOS likely to happen to you?
- Will what's happening affect my pension or investment with The Co-operative?
- Does the current crisis affect your ability to pay general insurance claims?
- What is the Financial Services Compensation Scheme?
- Is my money covered under the Financial Services Compensation Scheme?
No. There is a crucial difference between us and many of our competitors. Unlike them, we are not reliant on the financial markets in order to lend to customers. Our lending is fully funded by customer deposits, leaving us a good deal less exposed to the unpredictability of the market than many of the major lenders.
The HBOS situation in particular highlights the risks to businesses whose shares are traded on the stock market, where they can become exposed to speculators. Our business structure means that we are accountable to The Co-operative and its members and aren't at the mercy of speculators who have no affinity with our business.
For a more detailed view our recent press coverage.
