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Protest at Co-op’s “unethical banking decision”.

Annie O'Gara, Palestine Solidarity Campaign | 20.04.2009 13:37 | Anti-racism | Palestine | Social Struggles | World

On Friday, April 17th, a group of protesters from Manchester, York and Halifax Palestinian Solidarity groups gathered outside the Co-op headquarters in Balloon Street, Manchester


On Friday, April 17th, a group of protesters from Manchester, York and Halifax Palestinian Solidarity groups gathered outside the Co-op headquarters in Balloon Street, Manchester. They were challenging the fact that the Co-op has decided not to grant banking facilities to Interpal, a Muslim charity the bona fides of which have been verified by the British Charities Commission.

The protesters, most of whom are Co-op account holders, felt this decision was morally questionable given the Co-op’s proud policy of ethical policy making. However, the official explanation for the decision, given in a letter by the Co-op’s Ethics Adviser, Lisa Dale, fuelled their determination to protest even more. The Ethics Adviser’s explanation was as follows:

“Our decision not to offer banking facilities to Interpal was based solely on the fact that Interpal are named on the sanctions list issued by the US Office of Foreign Assets Control (OFAC). ....If The Co-operative Bank agreed to provide banking services to Interpal we ourselves could be fined by the US Government for non-compliance with their sanctions regime.”

The protesters’ two key points are firstly that Interpal is a legitimate and respectable humanitarian organisation and should be allowed to function like other charities and secondly that British banking decisions should not be dictated by American policy.

The leaflets they handed out sought to draw these facts to people’s attention, especially people who choose to bank with the Co-op on the basis of its high reputation for ethical trading at all levels, a reputation they feel has been tarnished by this ban on Interpal.

Annie O'Gara, Palestine Solidarity Campaign

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Comments

Hide the following 6 comments

ffs

20.04.2009 14:03

Kaze no Kae
mail e-mail: alanstevenson@hotmail.co.uk
- Homepage: http://kazenokae.blogspot.com


Any ideas how...

20.04.2009 14:44

...the Coop could be fined by the US Government for non-compliance with their sanctions regime? Surely this would be the case only if they had a US presence *and* that part of the company was involved in handling the banking transactions?

Jon


The oddly ethical Co-op

20.04.2009 16:06

Why anyone thinks the Co-op is particularly ethical has always been a mystery to me. Having worked for the Co-op bank I know that the Co-op is just like any other company - no better or worse. It'll treat staff as badly as it can get away with and flog car loans and dole out credit cards just like other places if it thinks thers's a profit to be made. As for the fabled refusal of arms related and other dubious business, the bank is a small one and hardly likely to get much of that anyway. Turning away a few commercial customers because they don't fit some 'ethical' policy is itself a commercial ruse designed to get plenty of higher income, idealistic professional youngsters to sign up for personal accounts. Those customers bring good profits.

Co-op shops are not exactly famous for good wages either.

But the real giveaway for the Co-op's ethical policy is its large travel agency. Any company keen on green issues would not do such a thing. Co-op travel's website often has cheap flight offers.

Good luck to the Co-op with its business, but there is really no need for anyone to swallow all its ethical propaganda.

Pete


yes and also..

20.04.2009 16:14

what you say is true pete... in saying this the co-op do also contribute some good work- bankrolling a legal case against the companies depleting areas of value to indigenous tribes in canada to expoit the tar sands there for example

it is still a company driven by profit... and it sounds like its acted weakly on the original post but i would rather bank with a company who puts up a legal case to defend natural environments than the oil bank of scotland, natwest etc

no sucker


coop & international coop alliance funded& helped international brigades in1930s

20.04.2009 22:20

+ it is on the more organic safer side of farming & britains largest farmer+ interested in ethical +non toxic products more than any other companies as its more accountable to coop members who bother to come to meetings:)
Join the coop & go to the meetings, it needs more good people, yep I got low shop floor wages when I worked for coop supermarket,but they were alot nicer to work for than Kwik safe etc+ they insisted on union membership.
That said they pay better than some voluntary "workers" coops.

ICA & Coop bank shouldnt be scared of some USA government-corporate BS.
ICA is trying to get on G8 g20 as a international member, this could help if they use democratic principles& ICA has 800,000,000 affiliates, together that means alot of dosh closh too.
 http://www.ica.coop/al-ica/

Green Syndicalist& Universal Democrat


coop & international coop alliance funded& helped international brigades in1930s

20.04.2009 22:21

+ it is on the more organic safer side of farming & britains largest farmer+ interested in ethical +non toxic products more than any other companies as its more accountable to coop members who bother to come to meetings:)
Join the coop & go to the meetings, it needs more good people, yep I got low shop floor wages when I worked for coop supermarket,but they were alot nicer to work for than Kwik safe etc+ they insisted on union membership.
That said they pay better than some voluntary "workers" coops.

ICA & Coop bank shouldnt be scared of some USA government-corporate BS.
ICA is trying to get on G8 g20 as a international member, this could help if they use democratic principles& ICA has 800,000,000 affiliates, together that means alot of dosh closh too.
 http://www.ica.coop/al-ica/

Green Syndicalist& Universal Democrat


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