Cheltenham & amp; Gloucester plc ( C & amp; G ) is a mortgage and savings provider in the UK, a subsidiary of Lloyds Banking Group. C & amp; G specializes in mortgages and savings products. Previously, C & amp; G is a building community, Cheltenham and Gloucester Building Society . Its headquarters are in Barnwood, Gloucester, Gloucestershire, England. C & amp; G is closed for new mortgage and savings business on September 9, 2013.
Cheltenham branch network & amp; Gloucester was transferred to the newly created TSB Bank plc in September 2013, as part of divesting most of Lloyds TSB's business by Lloyds Banking Group. Branches & amp; G was renamed under the TSB brand along with a number of Lloyds TSB branches in England and Wales. Some savings accounts and mortgage C & amp; G was also transferred to the new TSB Bank at that time; others remain with C & amp; G.
In April 2017, all remaining KPR administration was transferred to Lloyds Bank and renamed and the only remaining product was inheritance savings, with the remaining C & G Fixed Rate Cash ISAs due in 2017.
Video Cheltenham & Gloucester
History
C & amp; G can trace its roots back to Cheltenham and Gloucestershire Permanent Mutual Benefit Building and Investment Association . The inaugural meeting, held at the Belle Vue Hotel, Cheltenham took place on 7 August 1850, and the public shortened its name to Cheltenham and the Gloucestershire Benefit Building Society . The first president of the community is James Downing, from Cheltenham. Downing believes in a philosophy where it is the duty of citizens to help other citizens and this is the driving force for him in helping the poor to achieve stability through home ownership. Even so, the Society was run a little cunning, and after Downing's death in 1868, he had an annual income of £ 37,000.
At first the Institute was based in Cheltenham; The first Gloucester Branch was opened in 1896. Over the next 80 years, it expanded throughout the UK, opening its 100th branch in Pershore in 1979. During the 1980s, C & G acquired several smaller building societies, when the sector consolidation this is more intensive. C & amp; G was at Cheltenham House in the center of Cheltenham until moving to Barnwood in 1989. The building community then has commissioned a statue by British artist Barbara Hepworth, "Themes and Variations", which can still be seen displayed in front of Cheltenham. Home.
In 1984, the Cotswold Building Society shifted its business to C & amp; G. This was followed by Waltham Abbey in 1985, Colchester, London Permanent and Cardiff in 1987, Essex Equitable and Bolton in 1988, Bury St Edmunds in 1989, Bedford, the Guardian, Peckham and Walthamstow in 1990, Portsmouth and Bedford Crown in 1991, and Mid-Sussex in 1992.
In 1993 C & amp; G joined the Heart of England Building Society. At this point has taken over Portsmouth, Guardian, Peckham, Walthamstow, Cardiff, Colchester, London Permanent, Bolton, Bury St Edmunds and Essex Equitable building societies.
C & amp; G was converted to a bank in 1995, as a result of a takeover approach from Lloyds TSB. It involves the demutualization of society, and generates unexpected payments to its members.
In 2007 C & amp; G was restructured and closed 31 of its 195 branches, resulting in the loss of 315 jobs. At the same time, Cheltenham saving obligations & amp; Gloucester plc moved to C & amp; G Savings, a division of Lloyds TSB Bank plc. Lender for C & amp; G mortgage also changed to Lloyds TSB Bank plc, while Cheltenham & amp; Gloucester plc remains in charge of designing and managing mortgages.
On June 9, 2009, it was reported that Lloyds Banking Group will close Cheltenham & 164 Gloucester branches in November of that year, costing about 1,660 jobs. Lloyds states that C & G brand names will be maintained for mortgages and savings, while customers may use Lloyds TSB's branch to access their accounts. However, on August 19, 2009, Lloyds announced that they would review this decision.
Mergers and acquisitions
The following communities are merged or acquired by C & amp; G:
Staff Associations
C & amp; G has its own staff association, representing staff members in the development community for the purpose of collective bargaining and individual members of the staff association for disciplinary and complaint purposes. In 2004 the staff association joined the Amicus trade union, maintaining its own 'C & amp; GSA 'until Amicus joined TGWU in 2007 to form Unite.
Maps Cheltenham & Gloucester
Verde Project
Speculation has emerged that Lloyds will sell C & amp; G, after the European Commission demanded by the end of 2009 that both and Royal Bank of Scotland sold existing branches to eliminate competition concerns, following each bail-out by the British government.. Lloyds announced the creation of the Verde Project in November 2009.
In July 2012, it was announced that all C & amp; G, together with several branches of Lloyds TSB, will be sold to the Cooperative Bank and renamed the TSB. However in April 2013, the Cooperative Bank decided not to proceed with the acquisition, on the grounds of the economic downturn and the more stringent regulatory environment imposed on banks. Lloyds Banking Group confirmed that the rebranding to the TSB will still take place. The new TSB Bank was launched on September 9, 2013 and all Cheltenham & amp; The Gloucester branches were rebranded TSB on this date. The new bank is divested from Lloyds Banking Group in 2014 through flotation of the stock market, and acquired by Sabadell Group in July 2015.
On June 13, 2013, the Financial Election Committee announced an investigation into the divestiture of the Verde branches and an offer removed from The Co-operative Bank. The investigation published its final report in October 2014.
Closure
In the formation of the new TSB Bank, C & amp; G no longer has branches, and is closed for new business. Credit C & amp; K is managed by Cheltenham and Gloucester plc and provided by Lloyds Bank plc. Saved saving account held with C & amp; G Savings, trading division of Lloyds Bank plc. After transfer of all branches C & amp; G to TSB Bank plc, C & amp; G can be serviceable at Lloyds Bank branch, by phone or by mail. As of April 2017, all remaining mortgage administration has been transferred to Lloyds Bank and re-stamped and the only remaining product is inheritance savings, with the remainder of C & amp; G Fixed Rate Cash ISAs are due in 2017.
See also
- Cheltenham & amp; Gloucester Building Society v Norgan
- Cheltenham & amp; Gloucester Trophy
References
External links
- Official website
- Cheltenham & amp; Gloucester Building Society - from Lloyds Bank's history page on the Lloyds Banking Group website.
Source of the article : Wikipedia
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