Coventry Building Society
Encyclopedia
The Coventry Building Society is a building society
based in Coventry
, England
. It is the third largest in the United Kingdom with total assets of approximately £22.3 billion at 31 December 2010. It is a member of the Building Societies Association
.
to the local community, within a mutually-owned organisation. As its reputation grew locally, it became the largest building society in the county by asset share, within 30 years.
A long period of growth culminated in 1983, with the merger of the Economic with the other main building society in the city, the Coventry Provident. Today, the society has over 1.5 million members, assets of over £22 billion, and continues to resist any moves towards demutualisation. Its logo is of Lady Godiva
, the iconic figure of Coventry
.
On 23 March 2010, the Coventry announced that it would be merging with the Stroud and Swindon Building Society
to create a society, under the Coventry brand, that has 1.5 million members and 91 branches in the West Midlands and South West England.
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 mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
based in Coventry
Coventry
Coventry is a city and metropolitan borough in the county of West Midlands in England. Coventry is the 9th largest city in England and the 11th largest in the United Kingdom. It is also the second largest city in the English Midlands, after Birmingham, with a population of 300,848, although...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
. It is the third largest in the United Kingdom with total assets of approximately £22.3 billion at 31 December 2010. It is a member of the Building Societies Association
Building Societies Association
The Building Societies Association is the trade organisation of the building societies in the United Kingdom. In 2011 the 48 building societies in the UK had total assets of over £317 billion. 15 million adults have building society saving accounts and over 2.9 million adults are currently buying...
.
History
The Society was founded in 1884, in Coventry as the Coventry Economic Building Society. As with other societies, the intention was to provide greater access to financeAccess to finance
Access to finance refers to the possibility that individuals or enterprises can access financial services, including credit, deposit, payment, insurance, and other risk management services...
to the local community, within a mutually-owned organisation. As its reputation grew locally, it became the largest building society in the county by asset share, within 30 years.
A long period of growth culminated in 1983, with the merger of the Economic with the other main building society in the city, the Coventry Provident. Today, the society has over 1.5 million members, assets of over £22 billion, and continues to resist any moves towards demutualisation. Its logo is of Lady Godiva
Lady Godiva
Godiva , often referred to as Lady Godiva , was an Anglo-Saxon noblewoman who, according to legend, rode naked through the streets of Coventry in order to gain a remission of the oppressive taxation imposed by her husband on his tenants...
, the iconic figure of Coventry
Coventry
Coventry is a city and metropolitan borough in the county of West Midlands in England. Coventry is the 9th largest city in England and the 11th largest in the United Kingdom. It is also the second largest city in the English Midlands, after Birmingham, with a population of 300,848, although...
.
On 23 March 2010, the Coventry announced that it would be merging with the Stroud and Swindon Building Society
Stroud & Swindon Building Society
Stroud & Swindon Building Society was the 10th largest building society in the United Kingdom, with headquarters in Stroud, Gloucestershire and total assets of £2.7 billion as at 31 December 2009...
to create a society, under the Coventry brand, that has 1.5 million members and 91 branches in the West Midlands and South West England.