Coventry Building Society

Coventry Building Society

Type	Building Society (Mutual)
Industry	Banking and Financial Services
Founded	1884
Headquarters	Coventry, England, UK
Products	Banking, Savings and Mortgages
Net income	£84.9 million GBP (December 2010), 95.1% on 2009
Total assets	£22.3 billion GBP (December 2009), 21.2% on 2009
Website	www.coventrybuildingsociety.co.uk

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.^[1] It is a member of the Building Societies Association.

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 finance 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.^[2]

See also

• Building society

References

1. ^ Coventry Building Society - financial results
2. ^ Coventry building society merges with Stroud & Swindon

External links

• Coventry Building Society
• Building Societies Association
• KPMG Building Societies Database 2008