FSA approves Coventry Building Society merger
The FSA has approved a proposed merger between Coventry Building Society and Stroud & Swindon Building Society.
Under the merger the two financial providers will come together from the start of September.
The newly formed organisation will be called Coventry Building Society, and will be based in the Midlands.
The merger was first announced in June after it received the backing of Stroud & Swindon members.
Nine in ten members voted in support of the merger.
David Stewart, Coventry chief executive, said: “I believe that the merger with Stroud & Swindon Building Society will help us build on recent successes and bring the benefits of our prudent and member-focussed approach to a wider membership.”