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The Co-operative Bank (New Zealand) Logo
The Co-operative Bank plc is a retail and commercial bank in the United Kingdom, with its headquarters in Balloon Street, Manchester. Established as a bank for co-operators and co-operatives following the principles of the Rochdale Pioneers the business evolved over the twentieth century into a mid sized British high street bank operating throughout the UK mainland. Transactions took place at cash desks in co-op stores until the 1960s, when the bank set up a small network of branches that grew from 6 to a high of 160. Branches for residents of the Isle of Man and the Channel Islands were closed in the 2010s during a significant rescaling exercise. Branches now number around 35. The Co-operative Bank is the only UK high street bank with a customer-led Ethical Policy which is incorporated into the Bank's Articles of Association. The Ethical Policy was introduced in 1992 and incorporated into the Bank's constitution in 2013. The Ethical Policy was revised and expanded in 2015 in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Co-operative Bank Logo
''The'' () is a grammatical Article (grammar), article in English language, English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the Most common words in English, most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant s ... [...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] |
TSB Bank (United Kingdom)
TSB Bank plc is a retail and commercial bank in the United Kingdom and a subsidiary of Sabadell Group. TSB Bank operates a network of 220 branches across England, Scotland and Wales but has not had a presence in Northern Ireland since 1991. TSB in its present form launched on 9 September 2013. Its headquarters are located in Edinburgh and it has more than 5.0 million customers with over £37 billion of lending and £36 billion of customer deposits. The bank was formed from the existing business of Lloyds TSB Scotland plc, into which a number of Lloyds TSB branches in England and Wales and all branches of Cheltenham & Gloucester were transferred, and renamed TSB Bank plc. A European Commission ruling that the British government's 2009 purchase of a 43% stake in Lloyds Banking Group counted as state aid made it necessary for Lloyds Banking Group to sell a portion of its business; TSB was divested. Post-divestment, TSB offered an initial public offering and was listed on the Lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Commission
The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body of about 32,000 European civil servants. The Commission is divided into departments known as Directorates-General (DGs) that can be likened to departments or ministries each headed by a Director-General who is responsible to a Commissioner. There is one member per member state, but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. The Commission President (currently Ursula von der Leyen) is proposed by the European Council (the 27 heads of state/governments) and elected by the European Parliament. The Council of the European Union then nominates the other members of the Commission in agreement with the nominated President, and the 27 members as a team are then ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyds Banking Group
Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695. The Group's headquarters are located at 25 Gresham Street in the City of London, while its registered office is on The Mound in Edinburgh. It also operates office sites in Birmingham, Bristol, West Yorkshire and Glasgow. The Group also has extensive overseas operations in the US, Europe, the Middle East and Asia. Its headquarters for business in the European Union is in Berlin, Germany. The business operates under a number of distinct brands, including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Former Chief Executive António Horta-Osório told ''The Banker' ... [...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] |
Cheque Clearing
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system. This process is called the clearing cycle and normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn, with a corresponding adjustment of accounts of the banks themselves. If there are not enough funds in the account when the cheque arrived at the issuing bank, the cheque would be returned as a dishonoured cheque marked as non-sufficient funds. History England Cheques came into use in England in the 1600s. The person to whom the cheque was drawn (the "payee") could go to the drawer's bank ("the issuing bank") and present the cheque and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Company
In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a company limited by shares, the liability of members is limited to the unpaid value of shares. In a company limited by guarantee, the liability of owners is limited to such amount as the owners may undertake to contribute to the assets of the company, in the event of being wound up. The former may be further divided in public companies (public limited company, public limited companies) and private companies (private limited company, private limited companies). Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast, anyone may buy shares in a public limited company. Limited companies can be found in most countries, although the detailed rules governing them vary widely. It is also common for a distinct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-operative Wholesale Society
A co-operative wholesale society, or CWS, is a form of co-operative federation (that is, a co-operative in which all the members are co-operatives), in this case, the members are usually consumer cooperatives. According to co-operative economist Charles Gide, the aim of a co-operative wholesale society is to arrange “bulk purchases, and, if possible, organise production.” In other words, a co-operative wholesale society is a form of federal co-operative through which consumers co-operatives can collectively purchase goods at wholesale prices, and in some cases collectively own factories or farms. The best historical examples of this are the English CWS and the Scottish CWS, which are the predecessors of the 21st century Co-operative Group. Indeed, in Britain, the terms Co-operative Wholesale Society and CWS are used to refer to this specific organisation rather than the organisational form. However, the English CWS has inspired many imitations around the world (including, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Union For Ethical Banking
The Customer Union for Ethical Banking is a United Kingdom consumer organisation campaigning for The Co-operative Bank to maintain and strengthen its ethical standards and return to co-operative ownership in the future. It has also played a part in pressuring the leadership of the bank to implement external auditors for its annual values and ethics report. It has over 10,000 registered supporters among the bank's customers, as well as 1,200 paying members. Issues at the bank In the first half of 2013, the Co-operative Bank (then a subsidiary of the Co-operative Group) lost £700m, making the planned expansion of the bank impossible, and raising some warning signs for the bank's customers. Later that year, in May, a £1.5bn "black hole" was found in the bank's accounts. This failing was largely blamed on the bank's chairman, Paul Flowers and the takeover of Britannica Building Society in 2009. This led to the eventual takeover of the bank by several hedge funds, to plug the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minority Interest
In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 50% of outstanding shares, or the corporation would generally cease to be a subsidiary of the parent. It is, however, possible (such as through special voting rights) for a controlling interest requiring consolidation to be achieved without exceeding 50% ownership, depending on the accounting standards being employed. Minority interest belongs to other investors and is reported on the consolidated balance sheet of the owning company to reflect the claim on assets belonging to other, non-controlling shareholders. Also, minority interest is reported on the consolidated income statement as a share of profit belonging to minority shareholders. The reporting of 'minority interest' is a consequence of the requirement by accounting standards to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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