Britannia offers Co-op bank service
The banking arm of the Co-operative Group will today offer everyday-banking services from an additional 250 high street branches as it completes the integration of Britannia Building Society.
Britannia’s branches have previously been used only for Britannia savings accounts but from this week they will be able to carry out everyday current account work for all Co-op customers.
In addition, the Co-operative Financial Services will now be known as The Co-operative Banking Group and will operate under both The Co-operative Bank and The Co-operative Insurance brand names.
Britannia branches will also adopt new signage indicating their link to The Co-operative Bank.
The Co-operative Bank and Britannia Building Society completed their merger just over two years ago, creating a business with more than £70 billion of assets and nine million customers.
The Co-op Bank said the new services in Britannia branches would bring a boost to the high street.
Customers will now be able to carry out everyday activities in Britannia branches such as balance enquiries, paying in cash and cheques, withdrawing cash, and changing their details and account type.
Peter Marks, chief executive of The Co-operative Group, said: “At a time when other banks have been closing branches, we are offering hundreds more places for people to carry out day to day banking activities across the country.
“Our intention to grow our high street presence has never been stronger and we are striving to offer customers a real alternative choice in the current market.”
The Co-operative Bank has seen a 73% increase in the number of new current accounts opened in the first half of this year and now has more than 1.5 million current accounts.
Rod Bulmer, managing director of retail for The Co-operative Bank, said: “This shows that there is an appetite from consumers to switch banks and we are hoping that this move will genuinely help bring some much needed competition to the current account market.”
