Britannia

Our history

The merged organisation is a distinctive force in financial services, offering a unique alternative to shareholder and government owned banks that’s fair, ethical and co-operative.

Both Britannia and The Co-operative Banking Group have a proud history of putting members’ and customers’ interests first.

Britannia's timeline

Britannia has had a long and fascinating history. Since the 30 May 1856, Britannia has achieved a number of impressive milestones over the years...

• At the end of May 1857, Britannia, then known as the Leek & Moorlands Permanent Benefit Building Society, had 204 members either investing or borrowing.
• By 1921, assets passed the £1 million mark for the first time.
• By 1935, the Leek and Moorlands had just under 10% of the 29,947 total membership living in the local area.
• In 1937 the Head Office moved to New Stockwell House on Stockwell Street in Leek, with assets now at £6 million.
• In 1938 the Leek & Moorlands undertook its first merger with the takeover of the Longton Mutual Permanent Benefit Building Society.
• In 1960 the Leek & Moorlands merged with NALGO Building Society, and by this time had grown to be considered as one of the top ten biggest building societies.
• In 1965 the merger with the Westbourne Park Building Society led to the name being changed to the Leek & Westbourne.
• Britannia became known as the Britannia Building Society in 1975.
• Britannia Membership Reward was launched in 1996, and the first rewards were paid to members the following year.
• In 2001 Platform was bought, later merged with Verso in 2003 to become Britannia Building Society’s specialised intermediary lender.
• In 2005 Britannia Building Society acquired the savings and branch business of Bristol & West, in the first ever remutualisation of a former building society
• 2006 was Britannia Building Society’s 150th year, with nearly 3 million members and assets of £30 billion.
• On 21 January 2009, the boards of Britannia Building Society and The Co-operative Bank jointly announced a plan to merge
• The merger was approved by members of Britannia Building Society at the Annual General Meeting on 29 April 2009, with over 87% of members voting in favour.
• The merger was approved by the Financial Services Authority on 24 July 2009 and was effective from 1 August 2009, when the business assets and liabilities of Britannia Building Society transferred to The Co-operative Bank p.l.c. The branches and operations of Britannia Building Society continue to be run under the name ‘Britannia’.
• On 5th September 2011 Britannia became part of The Co-operative Banking Group.