Tag: Co-operative Financial Services

Co-op hit by falling food sales

Co-op hit by falling food sales

Co-operative Group has reported a fall in first-half underlying profit to £230.8 million, down from £262.3 million a year earlier. The mutual has been hit by declining food sales in the face of strong competition, reduced government funding for prescriptions and a change in the income recognition policy on the sale of its funeral bonds. […]

August 25, 2011 More
Co-operative Financial Services to axe 670 jobs

Co-operative Financial Services to axe 670 jobs

Manchester-based Co-operative Financial Services (CFS) has announced plans to axe more than 600 jobs as part of a strategic review. The group said 670 field based jobs will go after conducting a review of its life insurance and savings division following its merger with the Britannia Building Society in August 2009. CFS, which has 8 […]

July 18, 2011 More
Co-operative and Ecclesiastical sponsor ethical investment week

Co-operative and Ecclesiastical sponsor ethical investment week

The Co-operative Financial Services and Ecclesiastical Investment Management were named yesterday as sponsors of the third annual National Ethical Investment Week (NEIW). NEIW 2010, on 7-13 November, is a series of events and other activities across the UK to raise awareness of green and ethical investment options. UKSIF, the sustainable investment association behind NEIW, said […]

July 6, 2010 More
Co-op named sustainable bank of the year

Co-op named sustainable bank of the year

Co-operative Financial Services (CFS) secured the accolade of sustainable bank of the year at this year’s Financial Times Sustainable Banking Awards. HSBC was announced as the runner up, while Itau Unibanco, Brazil won the award for emerging markets sustainable bank of the year. “We are seeing a much greater commitment by financial institutions in both […]

June 7, 2010 More
Coventry Building Society in merger talks with Stroud & Swindon

Coventry Building Society in merger talks with Stroud & Swindon

According to reports this weekend, Coventry Building Society is in merger talks with its smaller rival, the Stroud & Swindon. The talks follow a series of recent mergers between Britain’s building societies and, should a deal be successful, will bring more consolidation to the mutual sector. The news comes as Coventry, which is the country’s […]

March 7, 2010 More
CFS announces results following Britannia merger

CFS announces results following Britannia merger

The Co-operative Financial Services (CFS), which recently completed its merger with Britannia Building Society, has reported its interim results for the 28 weeks to 25 July 2009. CFS, which is part of The Co-operative Group, is the UK’s biggest mutual retailer with more than 4 million members, over £14 billion turnover and has over 5,000 […]

September 10, 2009 More
Co-op and Britannia shrink conveyancing panel

Co-op and Britannia shrink conveyancing panel

The merger of Britannia building society with Co-operative Financial Services has resulted in 3,600 of the mutuals’ conveyancing panel members being dropped. Typically, solicitors on a lender’s approved panel act for the buyer and the lender. However, the system is open to abuse and could facilitate mortgage fraud because the solicitor involved is responsible for […]

August 24, 2009 More
Britannia cuts fixed-rates

Britannia cuts fixed-rates

Britannia Building Society has reduced rates on its two, three and five-year fixed deals by up to 0.95%. The new home loans are available from today (27th February) and the range includes a five-year fix with a rate of 4.24% for a 60% loan-to-value ratio. An arrangement fee of £999 applies. The lender is also […]

February 27, 2009 More
Britannia Building Society to merge with Co-operative Financial Services

Britannia Building Society to merge with Co-operative Financial Services

The Britannia Building Society is set to merge with Co-operative Financial Services (CFS). The merger will create a business worth £70 billion in assets with nine million customers and over 12,000 employees in more than 300 branches. The combined group will be a wholly owned subsidiary of The Co-operative Group and Britannia members are to […]

January 21, 2009 More