Unity Trust Bank
Encyclopedia
Unity Trust Bank Plc provides specialist banking services to trades unions and charities in the United Kingdom
. Founded in 1984; head office is located at Nine Brindleyplace
in Birmingham
.
Originally a licensed deposit taking institution, Unity Trust Limited acquired full status as a bank under the provisions of the Banking Act in 1987. It is authorised and regulated by the Financial Services Authority
.
Individual trades unions and federations own a majority 73.23% of the bank. The Co-operative Bank Plc, which supplied management expertise in the initial launch period, owns a 26.66% stake through its subsidiary Co-operative Commercial Limited. Certain individuals own the remaining 0.11% of the total equity capital between them.
In 2005, 2006, 2007, 2008 and 2009, Unity Trust received best marks for banking services in the Charity Finance magazine banking survey.
An unconnected Unity Joint Stock Mutual Banking Association was formed in London in 1855. This "Unity Bank" went into liquidation in 1862.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. Founded in 1984; head office is located at Nine Brindleyplace
Brindleyplace
Brindleyplace is a large mixed-use canalside development, in the Westside district of Birmingham, England. It is often written erroneously as Brindley Place, the name of the street around which it is built...
in Birmingham
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
.
Originally a licensed deposit taking institution, Unity Trust Limited acquired full status as a bank under the provisions of the Banking Act in 1987. It is authorised and regulated by the Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
.
Individual trades unions and federations own a majority 73.23% of the bank. The Co-operative Bank Plc, which supplied management expertise in the initial launch period, owns a 26.66% stake through its subsidiary Co-operative Commercial Limited. Certain individuals own the remaining 0.11% of the total equity capital between them.
In 2005, 2006, 2007, 2008 and 2009, Unity Trust received best marks for banking services in the Charity Finance magazine banking survey.
An unconnected Unity Joint Stock Mutual Banking Association was formed in London in 1855. This "Unity Bank" went into liquidation in 1862.