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Guest May

Co-Operative Banking

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Guest May

Hi everyone,

I have an enquiring mind and would like to know if anyone has heard of such an animal especially in Australia.

M

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HadEnoughofJuju

Co-Operative Banking ???

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Guest May

My understanding is where the customers own the bank so not like Standard Bank here where all the revenue flows to China's economy. I think it would work well here in SA because the masses need a simply discipline on how to manage their monies. The group that started it are respected professionals in insurance, IT and banking. There is lot that I need to learn, they working it on a 'cell' or networking principle where people are mentored. Its been backed by Altech and Standard Bank, I need to tap into my contacts at Standard Bank to see if there is any value.

Edited by May

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HadEnoughofJuju

Sounds like a pyramid scheme to me all polished up and shiny and made to look legal. Maybe if I read more about it and see how it worked I would be less suspicious of it.

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AndreaL
OubaasDik

Not going to bring my vast financial brain to bear on this, but in Aus there are Community Banks and Credit Unions that may or may not satisfy some of your requirements.

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