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SarahBell

Councils Keep Cash With Co-Op Bank

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http://www.manchestereveningnews.co.uk/business/business-news/councils-backing-co-op-bank-4290002

Nationally, more than 100 councils are believed to have nearly £500m on deposit with the Co-op.

The GT Manchester ones:

Trafford council has £3.5m invested and says it has not withdrawn any of its cash, though it is monitoring the situation.

Bolton Metropolitan Borough council has £1.5m invested. Again, it has not withdrawn any of its money, but is monitoring the situation.

Oldham and Rochdale councils declined to reveal the size of their investments held at the Co-op, but said they had not withdrawn any cash and would continue to monitor the situation.

Manchester council and Stockport council have no investments at the Co-op,

Wigan council also has no investments at the Co-op

Bury council also banks with the Co-op, but has no long-term investments there.

Salford council and Tameside council said they had no dealings with the Co-op.

Edited by SarahBell

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They aren't planning on withdrawing it... officially.

It will be done quietly.

If they lost money in it's collapse, after IceSave they would look ridiculous. At the same time if they are seen to rush their money out they will be blames for it's collapse.

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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