We’re recruiting!
May 20, 2017 – 10:27 am | No Comment

Class C Driver – Greenford UB6
With the Southeast becoming increasingly busy for us, and our plans for Christmas 2017 already taking shape, we need to strengthen our London driving team.

 We currently have a vacancy for …

Read the full story »

The Suma range of food and household products. Our products are sourced ethically, with the environment in mind.


Delicious vegetarian recipes created in our very own Suma canteen. Healthy meals, and a healthy amount of cakes too.


Environmental issues, sustainable business practices, climate change, recycling, green living and more.


New developments and activities at Suma, press releases, and updates we think you’ll be interested in.


Suma is the uk’s largest workers’ cooperative. We operate equal pay and are democratically run by our members.

Home » Cooperation

Move Your Money- Can the Power of UK Coops Change Our Banking System?

Submitted by on January 31, 2012 – 3:26 pm2 Comments

Suma recently attended the annual ‘Future Coops’ conference in Swindon, where cooperatives enthusiasts gather to debate the future of coops. This year’s theme was “From 2 to 20; How to Grow the Cooperative UK Economy from 2% of GDP to 20%”.

But why 20%? According to researchers, when co-ops make up a fifth of an economy all sorts of good things start to happen. Crime rates fall, mental health improves, families become more stable, stress levels decrease, unemployment falls, small businesses become more common, wealth inequalities decrease… and so on.

This is because cooperatives appear to have a stabilising effect on the rest of the economy, meaning that private businesses can operate in a more reliable and predictable market. There is less stress on public services so the public sector is more able to cope with demand. Competition and consumer power improves because big corporations find it increasingly difficult to monopolise markets thanks to the high proportion of coops.

These ideas are based on observation of regional economies like those in Emilia Romagna in northern Italy and the Basque region of Northern Spain where very different types of co-ops make up 20 to 30% of the local economy. In Spain there is the giant Mondragon Cooperative Corporation of worker co-ops (Spain’s seventh largest industrial group). In Emilia Romagna it is a network of 8000 small co-ops, which underpin the rest of the economy.

Both regions enjoy exceptional economic and social performance. Similar improvements can be seen in countries like Argentina or Brazil, which have prioritised cooperatives as the core of economic development strategies.

The Future Coops conference delegates came up with ideas for how to activate various parts of the UK cooperative movement. One of the simplest actions was Move Your Money. If you, like many of us, are sick of the behaviour of the large banks, then move your money to a cooperative like the Cooperative Bank or your local credit union or building society.

See www.moveyourmoney.org.uk for more details on how you can help to change British banking.

Print Friendly, PDF & Email


  • Aaron says:

    This sounds great and i want to do MORE to help this! We are already a Co OP Bank customer. i SOOOO believe in Supporting Local and Local Markets. Power to the pEOPLE, not THE BIG BUSINESSES LIKE tesco ETC, WHO MONOPOLISE! tell me how i can help MORE and i will!
    PLEASE! this sounds like the best thing since sliced CHEESE! 🙂

  • Biff Vernon says:

    It’s not quite clear from the article whether SUMA now uses an ethical bank such as the Co-op. Could we be enlightened, please?

Leave a comment!

Add your comment below, or trackback from your own site. You can also subscribe to these comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.