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Support for NACO Members at Co-op Group and CBG

CBG & Co-operative Group
Support for NACO Members

 

Recent Events at Co-operative Banking Group
Co-operative Banking Group has been the subject of much press coverage in the past few weeks. NACO understands that many members from the Bank and Trading Group are concerned about the long-terms effects of events since the 2012 financial results were announced on the 21st March.

Since March the Bank's credit rating has been downgraded by Moody's and the expected sale of General Insurance has been announced, as have proposals to 'bail-in' the Bank from bondholders. NACO is in consultation with CBG and the Co-operative Group regarding all future changes and will look to secure the very best outcome for NACO members.

For many members this will be a difficult time with a great deal of uncertainty. NACO is committed to supporting all members through this process, if you would like to speak with a NACO Official on any matter please contact the NACO National Office.