The Co-operative Bank plc is a British retail and commercial bank based in Manchester, England. Established as a bank for co-operators and co-operatives following the principles of the Rochdale Pioneers, the business evolved in the 20th century into a mid-sized British high street bank, operating throughout the UK mainland. Transactions took place at cash desks in co-op stores until the 1960s, when the bank set up a small network of branches that grew from 6 to a high of 160. Branches for residents of the Isle of Man and the Channel Islands were closed in the 2010s during a significant rescaling exercise. As of 2023 it has 50 branches in the UK.
The bank's headquarters on Balloon Street, Manchester
The Co-operative Bank branch in Ealing, West London
A statue of co-operative pioneer Robert Owen stands in front of the bank's head office in Manchester.
A former high-street branch of the Britannia in Gloucester, that has since closed
A cooperative is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. They differ from collectives in that they are generally built from the bottom-up, rather than the top-down.
Cooperatives may include:Worker cooperatives: businesses owned and managed by the people who work there
Consumer cooperatives: businesses owned and managed by the people who consume goods and/or services provided by the cooperative
Producer cooperatives: businesses where producers pool their output for their common benefit
eg. Agricultural cooperatives
Purchasing cooperatives where members pool their purchasing power
Multi-stakeholder or hybrid cooperatives that share ownership between different stakeholder groups. For example, care cooperatives where ownership is shared between both care-givers and receivers. Stakeholders might also include non-profits or investors.
Second- and third-tier cooperatives whose members are other cooperatives
Platform cooperatives that use a cooperatively owned and governed website, mobile app or a protocol to facilitate the sale of goods and services.
The volunteer board of a retail consumers' cooperative, such as the former Oxford, Swindon & Gloucester Co-op, is held to account at an annual general meeting of members.
Robert Owen (1771–1858) was a social reformer and a pioneer of the cooperative movement.
The statue of Samuel Jurkovič, national awakener and founder of first cooperative in Central Europe (Spolok Gazdovský) in Rača, Bratislava
Cooperative of agricultural products of Alginet, 1963