Co-op Bank, and its internet arm Smile, have long been a favourite with Guardian readers looking for an ethical alternative to the big banks, but its enforced "bail-in" raises questions about whether it ever really was that different, and whether it can still position itself as a mutual.
Twelve months ago the Co-op annoyed some customers by cutting interest rates on Smile accounts to zero and announcing it was introducing more expensive phone numbers, but it has continued to be touted by campaigns such as Move Your Money as a good alternative to mainstream current account providers.
If you are a Co-op customer how does the rescue package make you feel? Are you reassured, or do you feel it has lost some of what made it distinct?
