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Britannia (former Building Society)
The Britannia Building Society was founded as the Leek & Moorlands Building Society in Leek in 1856. It expanded steadily as a regional society until the late 1950s when it began a major expansion drive, partly through branch openings but also some 55 acquisitions. The most substantial of these were the NALGO Building Society in 1960; the Westbourne Park in 1965 (becoming the Leek and Westbourne); and the Eastern Counties Building Society in 1974. The Society’s name was changed to the Britannia Building Society the following year. Following theacquisition of the Bristol & West in 2005, the Britannia became the second-largest building society in the UK (based on total assets of £36.8 billion) at 31 December 2007. It merged with The Co-operative Banking Group in 2009, and was legally dissolved as a separate organisation on 1 August that year; it has remained as a trading name of The Co-operative Bank ever since. In January 2013, the Co-operative announced that the brand would b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending. Building societies exist in the United Kingdom, Australia and New Zealand, and used to exist in Ireland and several Commonwealth countries. They are similar to credit unions in organisation, though few enforce a common bond. However, rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Great Britain from cooperative savings groups. In the United Kingdom, building societies actively compete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paddington
Paddington is an area within the City of Westminster, in Central London. First a medieval parish then a metropolitan borough, it was integrated with Westminster and Greater London in 1965. Three important landmarks of the district are Paddington station, designed by the engineer Isambard Kingdom Brunel and opened in 1847; St Mary's Hospital; and the former Paddington Green Police Station (once the most important high-security police station in the United Kingdom). A major project called Paddington Waterside aims to regenerate former railway and canal land between 1998 and 2018, and the area is seeing many new developments. Offshoot districts (historically within Paddington) are Maida Vale, Westbourne and Bayswater including Lancaster Gate. History The earliest extant references to ''Padington'' (or "Padintun", as in the ''Saxon Chartularies'', 959), historically a part of Middlesex, appear in documentation of purported tenth-century land grants to the monks of Westmin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of Mortgage Lenders
The Council of Mortgage Lenders was an industry body representing mortgage lenders in the United Kingdom. Its members consisted of banks, building societies and specialist lenders and represented 95% of mortgage lending in the UK. In November 2015 it was confirmed that the Council of Mortgage Lenders would be merged with the British Bankers' Association, Payments UK, the UK Cards Association and the Asset Based Finance Association, following a review into financial trade bodies. It became part of the newly established UK Finance The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ... in July 2017. References External links * Mortgage industry of the United Kingdom Housing in the United Kingdom Business organisations based in the United Kingdom Mortgage industry associations< ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Platform Home Loans
Platform Home Loans is the intermediary mortgage lending subsidiary of The Co-operative Bank. The current incarnation of the firm was launched in February 2003 following the merger of Britannia Building Society subsidiaries Platform Home Loans and Verso. The firm became part of the Co-operative Bank group when that firm merged with Britannia in 2009. The firm was originally began trading in 1989 as the centralised mortgage lender of Bear Stearns Home Loans. In 1992 it became Platform Home Loans when it was sold to Lehman Brothers and in 1997 it was acquired by U.S. sub-prime lender The Money Store. In 1999 it was acquired by Cabot Square Capital. References Mortgage lenders 2003 establishments in the United Kingdom Companies based in Staffordshire {{UK-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Britannia Building Society
The Britannia Building Society was founded as the Leek & Moorlands Building Society in Leek in 1856. It expanded steadily as a regional society until the late 1950s when it began a major expansion drive, partly through branch openings but also some 55 acquisitions. The most substantial of these were the NALGO Building Society in 1960; the Westbourne Park in 1965 (becoming the Leek and Westbourne); and the Eastern Counties Building Society in 1974. The Society’s name was changed to the Britannia Building Society the following year. Following theacquisition of the Bristol & West in 2005, the Britannia became the second-largest building society in the UK (based on total assets of £36.8 billion) at 31 December 2007. It merged with The Co-operative Banking Group in 2009, and was legally dissolved as a separate organisation on 1 August that year; it has remained as a trading name of The Co-operative Bank ever since. In January 2013, the Co-operative announced that the brand would b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-operative Permanent Building Society
The Co-operative Permanent Building Society was a mutual building society, providing mortgages and savings accounts to its members. Its head office was located at New Oxford House in London. (No. 141B) Financial Services Authority (retrieved 17 November 2009) In 1970, it was renamed the . History Origins 1884 - 1900 The Southern Co-operative Permanent Building Society was formed in 1884 by a group of Co-operators including Thomas Webb and Charles Cooper, initially ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nationwide Building Society
Nationwide Building Society is a British mutual financial institution, the seventh largest cooperative financial institution and the largest building society in the world with over 16 million members. Its headquarters are in Swindon, England. Nationwide is made up of around 250 different building societies. Among the most significant mergers were those with the Anglia Building Society in 1987 and the Portman Building Society in 2007. It is now the second largest provider of household savings and mortgages in the UK and has a 10.3% market share of Current account (banking), current accounts for the 2021/2022 financial year. For the financial year 2021/2022, Nationwide had assets of around £272.4 billion compared to £483 billion for the entire building society sector, making it larger than the remaining 42 British building societies combined. It is a member of the Building Societies Association, the Council of Mortgage Lenders and Co-operatives UK. History The Society's ori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-operative Group
Co-operative Group Limited, trading as Co-op, is a British consumer cooperative, consumer co-operative with a group of retail businesses including food retail, wholesale, e-pharmacy, insurance and legal services, and funeral care. The Co-operative Group has over 65,000 employees across the UK. The group has its headquarters in One Angel Square in Manchester. The Group also manages the Co-operative Federal Trading Services, formerly the Co-operative Retail Trading Group (CRTG), which sources and promotes goods for food stores of the co-operative movements of the UK. It introduced the Co-operative brand in 2007, which is used by many consumers' co-operatives in the UK and managed by the group. History Beginnings (1844–1938) The Co-operative Group has developed over the years from the merger of co-operative wholesale society, co-operative wholesale societies and many independent retail societies. The Group's roots are traced back to the Rochdale Society of Equitable Pionee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-operative Insurance Society
Co-op Insurance is the trading name of CIS General Insurance, a general insurance company, which is part of the Co-operative Group, based in Manchester, United Kingdom. Co-op Insurance Services, an insurance intermediary incorporated in 2017, is a wholly owned subsidiary of CIS General Insurance. For most of its history, Co-op Insurance was also a life insurer and fund manager, sharing surpluses with holders of its 'with-profits' life policies, as well as with individual members of The Co-operative Group in proportion to their general insurance patronage. In 2013, Royal London Group agreed to buy the life insurance business unit for an estimated £219 million. As a result, Co-op Insurance currently offers business, home, motor, travel and pet insurance products. History The Co-operative Insurance Company Limited was formed in 1867 to provide fire and fidelity guarantee insurance to co-operative societies. In 1886, at an Annual General Meeting it was resolved "...that Life Assur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Societies (Funding) And Mutual Societies (Transfers) Act 2007
The Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (sometimes referred to as the Butterfill Act) is an Act of the Parliament of the United Kingdom. The Act gives building societies greater powers to merge with other companies. Passage through Parliament The Bill was introduced as a Private Members' Bill by Conservative Member of Parliament Sir John Butterfill, originally titled the Financial Mutuals Arrangements Bill. It was also known as the Butterfill Bill. Mergers under the Act There have been several high-profile mergers under the auspices of the Act. In August 2009, Britannia Building Society merged with Co-operative Financial Services (part of The Co-operative Group). Britannia initially continued as a brand, although owned by the Co-op. In February 2011, Kent Reliance Building Society pooled its assets with American private equity bank J.C. Flowers & Co.. J.C. Flowers & Co. has a 40% interest in the new bank, named OneSavings Bank plc, wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demutualisation
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Ireland
Bank of Ireland Group plc ( ga, Banc na hÉireann) is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Irish banking history. At the core of the modern-day group is the old Governor and Company of the Bank of Ireland, the ancient institution established by Royal Charter in 1783. History Bank of Ireland is the oldest bank in continuous operation (apart from closures due to bank strikes in 1950, 1966, 1970, and 1976) in Ireland. In 1781, the Bank of Ireland Act was passed by the Parliament of Ireland, establishing Bank of Ireland. On 25 June 1783, Bank of Ireland opened for business at Mary's Abbey in a private house previously owned by one Charles Blakeney. On 6 June 1808, Bank of Ireland moved to 2 College Green. In 1864, Bank of Ireland paid its first interest on deposits. In 1926, Bank of Ireland took control of the National Land Bank. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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