Banking justice

While we recognise the natural tension when banks are forced to meet shareholders' expectations, Labour MP Chuka Umunna is to be wholly supported ( MP calls for Rock's remutualisation as bailed out bank looks for buyers , 18 January). Through the financial crisis mutual banks performed. Current account openings at the Co-operative bank increased by 38% in 2009, demonstrating that the public feels safe putting its money in a mutual bank. It also reflects a plenitude of other evidence that people want our financial institutions to do business differently. But this is not just about supporting "nice" businesses to create a more just society that serves the needs of our communities and the environment. The Dutch mutual Rabobank is one of the world's few triple-A-rated banks, and through the expansion of mutuals the financial landscape can be overhauled to make it more robust. Everybody with a bank account has the power to change the current state of play, and by choosing or switching to a bank that is a mutual they can prove the power and influence of the consumer. Peter Holbrook Chief executive, Social Enterprise Coalition