Labour is considering breaking its historic links with the struggling Co-operative Bank.
The party has confirmed it is "reviewing its financial arrangements", insisting it is for commercial reasons.
It is reported Labour is looking to move loans worth more than £1m to the trade union-owned Unity Trust Bank, in which the Co-op Bank is in the process of selling its 27% stake.
This could pave the way for Labour to move all its current account facilities to the same bank.
Among those on the board of directors of the Unity Trust Bank are union leaders Dave Prentis of Unison and Billy Hayes of the CWU, according to its 2013 report and accounts. Mr Prentis is listed as president.
The move by Labour follows a year of turmoil at the Co-op bank, which came close to collapse and saw the resignation of its chairman Paul Flowers, who is now facing drug charges.
The bank recently reported a pre-tax annual loss of £1.3bn, and said it would not return to profit for at least two years.
And the parent Co-op Group, confirmed a loss of £2.5bn for 2013, in what it described as a "disastrous year".
A Labour Party spokesman said: "The Labour Party is constantly reviewing its financial arrangements. All decisions are taken for commercial reasons."
The step would see one of the oldest political and banking relationships come to an end.
The Co-op Movement and Labour joined as parties in 1927, and the financial links are thought to have started then.
Conservative Party chairman Grant Shapps claimed the move "would hand the trade unions even more control over Ed Miliband and the Labour Party" as the Unity Trust Bank was already 75% union-owned.
"The unions already pick the candidates, buy the policies and choose the leader. Now Ed Miliband wants them to hold the purse strings as well," he said.
"If Ed Miliband is too weak to stand up to the trade union barons then he is too weak to stand up for hardworking people. This would put Britain's economic security at risk."
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