Cheltenham and Gloucester Company Profile

cheltenham and gloucester

Founded In: 1850

Industry Type: Financial Services

No. Of Employee: 650

Address: Gloucester, United Kingdom


Revenue: $125 Million

About Cheltenham and Gloucester:

Cheltenham Gloucester plc (C&G) was a home loan and investment funds supplier in the United Kingdom, an auxiliary of Lloyds Banking Group. C&G spends significant time on mortgages and savings products. Beforehand, C&G was a building society, the Cheltenham Gloucester plc Building Society. Its base camp was in Barnwood, Gloucester, Gloucestershire, England. C&G was shut to another mortgage and investment funds business on 9 September 2013.

The branch organization of Cheltenham Gloucester plc was moved to the recently established TSB Bank plc in September 2013, as a feature of divestment of a huge bit of the Lloyds TSB business by Lloyds Banking Group. C&G branches were rebranded under the TSB brand alongside various Lloyds TSB branches in England and Wales. Some C&G investment accounts and home loans were additionally moved to the new TSB Bank around then; others stayed with C&G.

In April 2017, all leftover home loan organization was moved to Lloyds Bank and rebranded and the last items were heritage investment accounts, with the final C&G Fixed Rate Cash ISAs developing in 2017.

History Of Cheltenham and Gloucester:

C&G can follow its underlying foundations back to the Cheltenham Gloucesters Permanent Mutual Benefit Building and Investment Association. Its debut meeting, held at the Belle Vue Hotel, Cheltenham occurred on 7 August 1850, and the general public abbreviated its name to Cheltenham and Gloucestershire Benefit Building Society. The main President of the general public was James Downing, of Cheltenham. Bringing down had faith in a way of thinking whereupon it was a resident’s obligation to help different residents and this was the main impetus for him in assisting the poor with accomplishing dependability through house buying. All things considered, the Society was run rather keenly, and after Downing’s passing in 1868, it had a yearly pay of £37,000.

From the outset the Society was based in Cheltenham; its first Gloucester branch opened in 1896. Over the course of the following 80 years, it extended all through the UK, opening its 100th branch in Pershore in 1979. During the 1980s, C&G gained a few more modest structure social orders, as a solidification of the area escalated. C&G’s base camp was at Cheltenham House in focal Cheltenham until their transition to Barnwood in 1989. The at that point building society had dispatched a model by British artist Barbara Hepworth, “Subject and Variations”, which can, in any case, be seen shown on the facade of Cheltenham House.

In 1984 Cotswold Building Society transferred its endeavors to C&G. This was trailed 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 converged with the Heart of England Building Society. By the mid 1990s it had taken over the Portsmouth, Guardian, Peckham, Walthamstow, Cardiff, Colchester, London Permanent, Bolton, Bury St Edmunds, and Essex Equitable building social orders.

C&G changed over to a bank in 1995, because of a takeover come closer from Lloyds TSB. This elaborates the demutualization of the general public and created a bonus installment to its individuals.

In 2007 C&G was rebuilt and shut 31 of its 195 branches, bringing about the deficiency of 315 positions. Simultaneously, the reserve funds liabilities of Cheltenham Gloucester plc were moved to C&G Savings, a division of the then Lloyds TSB Bank plc. The loan specialist for C&G contracts additionally changed to Lloyds TSB Bank plc, while Cheltenham Gloucester plc stayed responsible for planning and directing the home loans.

A previous part of the C&G in Peterborough, Cambridgeshire – rebranded TSB in September 2013

On 9 June 2009, it was accounted for that Lloyds Banking Group would close Cheltenham Gloucester plc 164 branches in November of that year, at the expense of around 1,660 jobs. Lloyds expressed that the C&G brand name would be held for home loans and investment funds, while clients could utilize any part of Lloyds TSB to get to their accounts. However, on 19 August 2009, Lloyds reported that it would audit this choice.

Cheltenham Gloucester Company Profile:

The Gloucester and Cheltenham Branch was shaped on 14 November 1930, with H P Folland, Chief Designer of the Gloster Aircraft Company, as Chairman. Enrollment was drawn from the Gloster Aircraft Company which, at that date, was the solitary aeronautical firm in the region. Before the arrangement of the Branch there had existed for various years the Gloucestershire Aircraft and Engineering Society however its exercises stopped when the Branch was begun. In those days participation was around 80.

The Branch has been lucky in the help it has had from notable individuals working in the neighborhood, as officials of the Branch, and in the background. For example, T O M Sopwith was Branch President during the 1930s. Sir George Dowty was a part of the mid 1930s and was Branch President for a long time during the 1950s and 60s. Sir Robert Hunt, Sir George Dowty’s replacement to lead the Dowty Group, additionally filled in as Branch President for a period. Sir George proceeded to be President of the Society.

In 1962, the Gloucester and Cheltenham Branch was one of the first to have the Branches’ Conference when it was chosen the Spring meetings ought to be removed from London. The Branch was pleased to likewise have the gathering in 1979 and afterward again in 2004. In 1966, in the Society’s centennial year, the Branch celebrated by getting sorted out an airshow on the Staverton landing strip Gloucestershire’s air terminal. This was the principal enormous airshow held in the locale and pulled in an expected 10,000 individuals.

The feature of the yearly talk program is the named talk and supper held in April, celebrating initially H P Folland and, since 1982, in substitute years, Sir George Dowty. The fifteenth Sir George Dowty talk and supper occurred in 2012 and was being conveyed by Dr. Oliver Towers, FRAeS, President of Dowty Propellers.

The Branch has been extremely lucky in the past to appreciate the support of the neighborhood airplane business that incorporates significant organizations GE Aviation and Messier-Bugatti-Dowty. Branch address nights are generously facilitated by MessierBugatti-Dowty at their Restaurant Conference Room, off Down Hatherley Lane. Talks start at 19:30 (except for the yearly named talk) and all are free to join in.