The Co-operative Bank Partnership Report - Past and Future Generations of Co-operators

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Past and Future
Generations of
Co-operators

For those of us who believe in co-operation, 1997 was a year to remember. As we celebrated the Bank's 125th anniversary, we naturally reflected with pride on our roots in the Co-operative Movement, tracing back the principles embodied in our Mission Statement as far as the life and works of Robert Owen (1771 to 1858) and to the original Rochdale Pioneers (1844). But it was the future of co-operation that really preoccupied us; a future that was called into question by the hostile takeover bid for our sole equity shareholder, Co-operative Wholesale Society. The defiant response of CWS made it absolutely plain to would-be predators that its assets - including the Bank - are not for sale at any price. While, to the wider world, their success in resisting the bid sent out an equally clear message: that, as we approach the new millennium, the co-operative values we inherited from our forefathers are as strong as ever - and will continue to make life better for our children and their children.

As we approach the end of the twentieth century there are something like 700 million co-operators worldwide.

Still going strong - 125 years into the Bank's history, we believe as strongly as ever that our co-operative values have a vital part to play in building a better future for generations to come.

[ A momentous year for co-operation ]
In 1997, the enduring strength of the Co-operative Movement was demonstrated in a number of ways.

Most newsworthily, CWS successfully blocked the hostile takeover bid embracing itself, the CIS and The Co-operative Bank. It's hard to over-estimate the importance of this victory, in demonstrating that co-operation has a future as well as a distinguished past. The hostility that the bid aroused, not just in co-operators but across a wide commercial and political spectrum, provided the strongest evidence that co-operative values remain as valid an alternative to the capitalist model for business as they were when the Rochdale Pioneers opened their shop in Toad Lane.

The recent General Election was also a victory for co-operation, resulting in a record number of Co-op MPs in Parliament. And at the close of the year, the Government's White Paper on regional development agencies included proposals for involving the Co-operative Movement.

In these developments, we clearly see an increasingly important role taking shape for the Co-operative Movement in the next millennium. And at The Co-operative Bank we are determined to play a central part in ensuring that co-operative values live on, and continue to exert a positive influence on more and more people's lives. This section of the report demonstrates how, through our Partnership Approach, we have been working towards that end in 1997.

The Co-operative Bank began more than 100 and twenty five years ago as the Loan and deposit Department of the Co-operative Wholesale Society (CWS).

The Co-operative Bank seeks to involve itself in a wide range of social, cultural and educational activities.

A Look at what the Co-operative Bank is doing to advance the cause of sustainable development.