I actually DO see the logic of this situation.
The term Co-op comes from cooperative.This means a diverse group of people who buy,trade and work together and in return for being a member of the group get certain benefits back.So how can a Co-operative bank accept the diversity of it's members if one of those members has issues with other members of that group?
I remember the days when the Co-Op paid out dividend to it's members.My mother would take me out for a celebratory meal.