Forum menu
Are there any banks who are "just" banks - deal in physical money, deposits, savings, mortgages etc and don't have a part in gambling/markets that takes place?
Is the Co Operative bank like that or any other smaller banks?
I’ve always been lazy about this and realise that I can't hurt the banks on my own but I know it would make me feel better. The whole way the industry is run I don't understand but I know I don't like it!
If so I'm moving to them - I get nothing from my bank that I would miss - only really need it as a mechanism for getting my wages paid in and direct debts.
The whole way the industry is run I don't understand but I know I don't like it
It's the STW way.
Try a biscuit tin under your bed.
All banks play the stock market in one way or another...as will insurance companies, etc.
If you can't beat them...
co op is probably the most ethical
Banks, like every company, exist to make money. To do this they make investments with your money, they pay you interest in return for saving your money with them, which allows them to make the investments. These investments include issuing mortgages to people to allow buy their own homes.
What you are looking for sounds like a building society, owned by its member for the benefit of those members.
Capitalism, don't you just love it?
HELP!! I've clicked the back button now 7 times! I appear to be trapped in a thread ❓ 😯
What you are looking for sounds like a building society, owned by its member for the benefit of those members.
Are any of them still mutuals?
Yorkshire Building Society, Leeds (formerly Leeds & Holbeck, not to be confused with The Leeds that got eaten by Halifax) and Nationwide are all mutuals IIRC. Skipton might be as well
Co-op is least evil. Airdrie Savings are probably the most oldfashioned, though they're also probably relatively likely to keel over at any moment (and least likely to get a bailout if they did).
We have been with Smile (aka Co-Op) for years, and they are super helpful and simple to deal with. A very happy customer here.
I think i agree with Northwind about 'least evil' with the co-op and less likely to be imploding sometime soon.