Cheltenham & Gloucester - wikipedia Cheltenham & Gloucester Cheltenham & Gloucester plc Trading name C&G Type Subsidiary undertaking Industry Finance and insurance Founded Cheltenham, United Kingdom ( 1850 ( 1850 ) ) Headquarters Barnwood, Gloucestershire, United Kingdom Area served England Wales Scotland Products Financial services Parent Lloyds Banking Group Website www.cheltglos.co.uk Cheltenham & Gloucester plc ( C&G ) was a mortgage and savings provider in the United Kingdom, a subsidiary of Lloyds Banking Group. C&G specialises in mortgages and savings products. Previously, C&G was a building society, the Cheltenham and Gloucester Building Society. Its headquarters were in Barnwood, Gloucester, Gloucestershire, England. C&G was closed to new mortgage and savings business on 9 September 2013. The branch network of Cheltenham & Gloucester was transferred to the newly established TSB Bank plc in September 2013, as part of a divestment of a significant portion of the Lloyds TSB business by Lloyds Banking Group. C&G branches were rebranded under the TSB brand along with a number of Lloyds TSB branches in England and Wales. Some C&G savings accounts and mortgages were also transferred to the new TSB Bank at that time ; others remained with C&G. In April 2017, all remaining mortgage administration was transferred to Lloyds Bank and rebranded and the only remaining products were legacy savings accounts, with the last remaining C&G Fixed Rate Cash ISAs maturing in 2017. Contents 1 History 1.1 Mergers and acquisitions 1.2 Staff Association 2 Project Verde 3 Future 4 See also 5 References 6 External links History Headquarters of Cheltenham & Gloucester at Barnwood, Gloucestershire C&G can trace its roots back to the Cheltenham and Gloucestershire Permanent Mutual Benefit Building and Investment Association. Its inaugural meeting, held at the Belle Vue Hotel, Cheltenham took place on 7 August 1850, and the society shortened its name to Cheltenham and Gloucestershire Benefit Building Society. The first President of the society was James Downing, of Cheltenham. Downing believed in a philosophy whereupon it was a citizen 's duty to help other citizens and this was a driving force for him in helping the poor to achieve stability through home ownership. Even so, the Society was run rather shrewdly, and upon Downing 's death in 1868, it had an annual income of £ 37,000. At first the Society was based in Cheltenham ; its first Gloucester branch 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, as consolidation of the sector intensified. C&G 's headquarters were at Cheltenham House in central Cheltenham until their move to Barnwood in 1989. The then building society had commissioned a sculpture by British artist Barbara Hepworth, `` Theme and Variations '', which can still be seen displayed on the front of Cheltenham House. In 1984 Cotswold Building Society transferred its undertakings to C&G. This was followed by the Waltham Abbey in 1985, the Colchester, the London Permanent and the Cardiff in 1987, the Essex Equitable and the Bolton in 1988, the Bury St Edmunds in 1989, the Bedford, the Guardian, the Peckham and the Walthamstow in 1990, the Portsmouth and the Bedford Crown in 1991, and the Mid-Sussex in 1992. In 1993 C&G merged with the Heart of England Building Society. By this point it had taken over the Portsmouth, Guardian, Peckham, Walthamstow, Cardiff, Colchester, London Permanent, Bolton, Bury St Edmunds and Essex Equitable building societies. C&G converted to a bank in 1995, as result of a takeover approach from Lloyds TSB. This involved the demutualisation of the society, and generated a windfall payment to its members. In 2007 C&G was restructured and closed 31 of its 195 branches, resulting in the loss of 315 jobs. At the same time, the savings liabilities of Cheltenham & Gloucester plc were transferred to C&G Savings, a division of the then Lloyds TSB Bank plc. The lender for C&G mortgages also changed to Lloyds TSB Bank plc, whilst Cheltenham & Gloucester plc remained in charge of designing and administering the mortgages. A former branch of the C&G in Peterborough, Cambridgeshire - rebranded TSB in September 2013 On 9 June 2009, it was reported that Lloyds Banking Group would close Cheltenham & Gloucester 's 164 branches in November of that year, at the cost of around 1,660 jobs. Lloyds stated that the C&G brand name would be retained for mortgages and savings, while customers could use any branch of Lloyds TSB to access their accounts. However, on 19 August 2009, Lloyds announced that it would review this decision. Mergers and acquisitions The following societies either merged with or were acquired by C&G : Building society Date merged / acquired Surrey Dec 1943 Permanent Salopian Benefit Apr 1948 Equitable Benefit Jul 1951 Yeovil & Society, South Somerset Sep 1960 Vale of Evesham Dec 1961 Hitchin Mutual Permanent Jun 1971 Smethwick Dec 1973 Tewkesbury & District Oct 1974 North London Dec 1976 Cotswold Jan 1984 Waltham Abbey Jul 1985 Colchester Jun 1987 London Permanent Aug 1987 Cardiff Oct 1987 Essex Equitable Mar 1988 Bolton Oct 1988 Bury St Edmunds Jan 1989 Bedford Apr 1990 Guardian Apr 1990 Peckham Jun 1990 Walthamstow Oct 1990 Portsmouth Jun 1991 Bedford Crown Jul 1991 Mid Sussex Aug 1992 Heart of England Oct 1993 Staff association C&G had its own staff association, which represented members of staff in the building society for collective bargaining purposes and individual members of the staff association for disciplinary and grievance purposes. In 2004 the staff association merged with the trade union Amicus, retaining its own ' C&GSA ' branding until Amicus merged with the TGWU in 2007 to form Unite. Project Verde Before rebranding After rebranding Speculation had arisen that Lloyds was to sell off C&G, after the European Commission demanded in late 2009 that both it and Royal Bank of Scotland sell off existing branches in order to allay competition concerns, following their respective bail - outs by the UK government. Lloyds announced the creation of Project Verde in November 2009. In July 2012, it was announced that all of the C&G branches, along with some Lloyds TSB branches, would be sold to The Co-operative Bank and rebranded as TSB. However in April 2013 the Co-operative Bank decided not to proceed with the acquisition, citing the economic downturn and tougher regulatory environment imposed on banks. Lloyds Banking Group confirmed that the rebranding to TSB would still take place. The new TSB Bank was launched on 9 September 2013 and all Cheltenham & Gloucester branches were rebranded TSB on this date. The new bank was divested from Lloyds Banking Group in 2014 through a stock market flotation, and was acquired by Sabadell Group in July 2015. On 13 June 2013 the Treasury Select Committee announced an inquiry into the required divestment of the Verde branches and the collapsed bid from The Co-operative Bank. The inquiry published its final report in October 2014. Future As a result of the formation of the new TSB Bank, C&G no longer has any branches, nor does it provide new mortgages or savings products to any customers. Retained C&G mortgages are administered by Cheltenham and Gloucester plc and are provided by Lloyds Bank plc. Retained savings accounts are held with C&G Savings, a trading division of Lloyds Bank plc. Following the transfer of all C&G branches to TSB Bank plc, C&G products can be serviced at Lloyds Bank branches, by phone or by post. By April 2017, all remaining mortgage administration will be transferred to Lloyds Bank and rebranded and the only remaining products will be legacy savings accounts, with the last remaining C&G Fixed Rate Cash ISAs maturing in 2017. If these remaining cash ISAs are also rebranded, this would bring the use of a 167 - year - old brand to an end. See also Cheltenham & Gloucester Building Society v Norgan Cheltenham & Gloucester Trophy References Jump up ^ `` How to apply ''. Retrieved 2013 - 12 - 10. Jump up ^ `` TSB is back on the high street ''. Cheltglos.co.uk. Archived from the original on 2013 - 10 - 16. Retrieved 2013 - 10 - 15. Jump up ^ `` Important information about your Cheltenham & Gloucester ( C&G ) mortgage ''. Cheltglos.co.uk. Retrieved 2016 - 12 - 28. Jump up ^ Scott, Craig ( 2000 ). Cheltenham & Gloucester A tradition of change. Cheltenham & Gloucester plc. pp. 11 -- 12. Jump up ^ `` The Citizen and Gloucestershire Echo - 23 / 06 / 2009 digital edition ''. Edition.pagesuite-professional.co.uk. 2009 - 06 - 23. Retrieved 2013 - 10 - 15. Jump up ^ `` Theme and Variations ''. Barbara Hepworth. Retrieved 2013 - 10 - 15. Jump up ^ Rex, Simon ( 2013 - 07 - 01 ). `` Building society mergers and conversions since 1980 ''. Building Societies Association. Retrieved 2013 - 12 - 01. Jump up ^ Goldsmith, Vivien ( 1993 - 05 - 06 ). `` C&G to merge with Heart of England ''. The Independent. Retrieved 2013 - 12 - 01. Jump up ^ The C&G : A brief history ( 2009 - 06 - 09 ). `` Gloucestershire - Credit Crunch - The C&G : A brief history ''. BBC. Retrieved 2013 - 10 - 15. Jump up ^ Ferreira - Marques, Clara ( 2007 - 08 - 08 ). `` UK 's Lloyds TSB cuts jobs as 31 C&G branches close ''. Reuters. Retrieved 2013 - 12 - 02. Jump up ^ Jones, Alan ( 2009 - 06 - 09 ). `` Lloyds branded a ' disgrace ' for C&G branch closures - Business News - Business ''. The Independent. Retrieved 2013 - 10 - 15. Jump up ^ `` Business Lloyds closing all C&G branches ''. BBC News. 2009 - 06 - 09. Retrieved 2013 - 10 - 15. Jump up ^ `` Business Lloyds to ' review ' closure of C&G ''. BBC News. 2009 - 08 - 19. Retrieved 2013 - 10 - 15. Jump up ^ `` Extract from BSA Yearbook 2013 / 14 - Mergers and Name Changes '' ( PDF ). Building Societies Association. 2013 - 10 - 04. Archived from the original ( PDF ) on 2013 - 11 - 09. Retrieved 2013 - 12 - 02. Jump up ^ `` Cheltenham & Gloucester PLC History ''. FundingUniverse. Retrieved 2013 - 12 - 02. Jump up ^ `` Finance and Legal - history ''. Unite the Union. Retrieved 8 October 2015. Jump up ^ `` Business RBS and Lloyds set for sell - offs ''. BBC News. 2009 - 11 - 03. Retrieved 2013 - 10 - 15. Jump up ^ `` Archived copy '' ( PDF ). Archived from the original ( PDF ) on 2014 - 09 - 12. Retrieved 2013 - 12 - 11. Jump up ^ http://www.lloydstsbtransfer.com/documents/transferring_branches.pdf Jump up ^ `` BBC News - Q&A : Co-op buys Lloyds TSB branches ''. Bbc.co.uk. 2012 - 07 - 19. Retrieved 2013 - 10 - 15. Jump up ^ `` Lloyds ' branch sale to Co-op falls through ''. BBC News. 2013 - 04 - 24. Retrieved 2013 - 04 - 24. Jump up ^ `` Inquiry into Project Verde set to begin ''. Insolvency News. 2013 - 06 - 13. Retrieved 2013 - 12 - 11. Jump up ^ `` Project Verde ''. UK Parliament. Retrieved 2017 - 04 - 21. Jump up ^ `` Mortgages and savings from Cheltenham & Gloucester C&G ''. Cheltglos.co.uk. 2013 - 09 - 10. Retrieved 2013 - 10 - 15. Jump up ^ `` How you contact us ''. Cheltglos.co.uk. 2013 - 09 - 09. Archived from the original on 2013 - 10 - 16. Retrieved 2013 - 10 - 15. Jump up ^ `` Important information about your Cheltenham & Gloucester ( C&G ) mortgage ''. Cheltglos.co.uk. Retrieved 2016 - 12 - 28. External links Official website Cheltenham & Gloucester Building Society - from the Lloyds Bank history pages on the Lloyds Banking Group website. Lloyds Banking Group Retail Lloyds Bank Lloyds Bank International Bank of Scotland Halifax Birmingham Midshires Bank of Wales St. James 's Place Bank Commercial Lloyds Development Capital Agricultural Mortgage Corporation Consumer Black Horse Lex Autolease Colleys Insurance Scottish Widows Lloyds Bank General Insurance ( underwriter ) Lloyds Bank Insurance Services ( intermediary ) Former Lloyds TSB Lloyds Associated Banking Company Lloyds and National Provincial Foreign Bank Bank of London and South America Bank of London and Montreal Cox & Kings National Bank of New Zealand Lloyds Bank California Lloyds Bank Canada Capital and Counties Bank Cunliffe, Brooks Fox, Fowler and Company Lewis 's Bank Cheltenham & Gloucester Trustee Savings Bank TSB Bank Hart, Fellow 's and Company HBOS Bank of Scotland International Halifax ( Ireland ) Banco Halifax Hispania Intelligent Finance Clerical Medical British Linen Bank The Leeds Sainsbury 's Bank Other Lloyds Bank RFC Legislation : Lloyds TSB Act 1998 HBOS Group Reorganisation Act 2006 Commons Commercial and retail banks in the United Kingdom Banking in the United Kingdom Barclays Barclays Bank Barclays Wealth CYBG Clydesdale Bank Yorkshire Bank HSBC Holdings First Direct HSBC Bank HSBC Private Bank M&S Bank Lloyds Banking Group Bank of Scotland Bank of Wales Birmingham Midshires Halifax Lloyds Bank Royal Bank of Scotland Group Adam and Company Child & Co. Coutts & Co. Drummonds Bank NatWest Royal Bank of Scotland Ulster Bank Isle of Man Bank Santander Group Cahoot Cater Allen Santander UK Wholly state - owned National Savings and Investments UK Financial Investments UK Asset Resolution Bradford & Bingley NRAM Other Al Rayan Bank Aldermore Allied Irish Bank ( GB ) First Trust Bank Arbuthnot Latham & Co Secure Trust Bank Atom Bank Bank and Clients Bank of Ireland Butterfield Bank Cambridge & Counties Bank C. Hoare & Co Close Brothers Group The Co-operative Bank Smile Danske Bank Duncan Lawrie Handelsbanken Harrods Bank Julian Hodge Bank Kingdom Bank Kleinwort Hambros Metro Bank Monzo OneSavings Bank Post Office Money Raphaels Bank Reliance Bank Revolut NM Rothschild & Sons Sainsbury 's Bank Shawbrook Bank Standard Chartered Starling Bank Tandem Tesco Bank Triodos Bank TSB Unity Trust Bank Virgin Money `` Big Four '' banks are underlined and private banks are shown in italics 73 % owned by UKFI Mortgage assets only Former building societies of the United Kingdom Abbey National Aberavon Mutual Permanent Aid to Thrift Alliance and Leicester Anglia Barnsley Bedford Bedford Crown Bexhill Bingley Permanent Birmingham Midshires Bolton Bradford and Bingley Bradford Equitable Bristol and West Britannia Burnley Bury St Edmunds Catholic Century Chelsea Cheltenham and Gloucester Chesham Cheshire Cheshunt Chilterns City & Metropolitan City of Derry City of London Clay Cross Benefit Co-operative Permanent Coventry Provident Derbyshire Dunfermline Eastbourne Essex Equitable Frome Selwood Gainsborough Gateway Greenwich Guardian Halifax Hampshire Haywards Heath Heart of England Hendon Herts and Essex Ilkeston Permanent Kent Reliance Ketley 's Lambeth Lancastrian Leamington Spa Leeds Permanent Louth, Mablethorpe and Sutton Mercantile Mid Sussex Mornington National & Provincial North of England Northern Rock Norwich and Peterborough Nottingham Imperial Peckham Portman Portsmouth Regency Rowley Regis Scarborough Sheffield Shepshed St Pancras St Stephen 's Staffordshire Standard Stroud & Swindon Sun Surrey Sussex County Town and Country Tynemouth Universal Walthamstow Wessex West Cumbria West of England Woolwich Retrieved from `` https://en.wikipedia.org/w/index.php?title=Cheltenham_%26_Gloucester&oldid=797225136 '' Categories : Former building societies of the United Kingdom Mortgage lenders Lloyds Banking Group Banks of the United Kingdom British companies established in 1850 1850 establishments in England Companies based in Gloucester Hidden categories : Pages using deprecated image syntax All articles with unsourced statements Articles with unsourced statements from December 2016 Wikipedia articles needing clarification from December 2016 Talk Contents About Wikipedia 中文 Edit links This page was last edited on 25 August 2017, at 18 : 14. 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Question: when did lloyds take over cheltenham and gloucester
Answer: April 2017