Co-operative Permanent Building Society

Not to be confused with The Co-operative Bank or The Co-operative Credit Union.

Co-operative Permanent Building Society
Company typeBuilding Society (Mutual)
Founded1884
Defunct1970
FateChange of name
SuccessorNationwide Building Society
HeadquartersLondon, United Kingdom

The Co-operative Permanent Building Society was a mutual building society, providing mortgages and savings accounts to its members. Its head office was located at New Oxford House in London.[1] In 1970, it was renamed the Nationwide Building Society.

History

The Southern Co-operative Permanent Building Society was formed in 1884, initially to provide a service to the members of the co-operative movement, enabling them to own their own properties. To begin with the Society built the houses but soon changed its direction to lend money to members for them to build their own or purchase existing properties. Competition soon began between societies and members from outside the movement joined.[2]

Through rapid expansion and strategic planning the Society soon grew to become a major competitor and by 1943 it was fifth largest in the United Kingdom with assets of £32,724,112.[3]

In 1970, it was renamed the Nationwide Building Society.[4]

Transfers of engagements

Date Society Assets Ref.
1918 Bournemouth, Hants & Dorset Building Society — [5]
June 1942 Whitehall Building Society £141,671 [3]
September 1942 Southampton & South Hants Building Society £130,566 [3]
October 1942 The Institute Permanent Benefit Building Society £242,225 [3]
December 1942 Finsbury Building Society £430,029 [3]
December 1942 Nineteenth Building Society £313,612 [3]
February 1943 Wandsworth Building Society £334,603 [3]
February 1943 Kensington Permanent Benefit Building Society £84,538 [3]
February 1943 Great Torrington Building Society £217,275 [3]
June 1943 Bournemouth Working Men's Building Society £66,236 [3]
November 1943 Lombardian Permanent Benefit Building Society £75,171 [3]
April 1944 Western Equitable Permanent Mutual Benefit Building Society £20,540 [3]
May 1944 Thames Estuary Building Society £303,311 [3]
February 1945 Picadilly Permanent Building Society £30,485 [3]
July 1946 Rock (Llanelly) Permanent Building Society £33,795 [3]
April 1947 Middlesex Building Society £14,515 [3]
October 1951 Empire Benefit Building Society £93,999 [3]
February 1956 Exeter Benefit Building Society £3,624,142 [3]
September 1956 Merthyr & Dowlais Permanent Benefit Building Society £14,684 [3]
June 1958 Scottish Amicable Building Society £22,578,901 [3]
September 1963 British Co-operative Building Society £21,046 [3]
June 1966 Coleraine Building Society £301,539 [3]

Arms

Coat of arms of Co-operative Permanent Building Society
Notes
The Shield is divided per chevron Azure and Or in allusion to the Pyramid which was the Emblem of the Society for many years. The Castle refers to the "Englishman's Home", and is built upon a rock, this being the security afforded by the society. The Dragon is, of course, the guardian of the treasure, and also emphasises the feeling of security which all may enjoy who invest in the Society. The Keys stand for house ownership. There are four of them together with the National Emblems of England, Scotland, Ireland, and Wales to show that the Society's activities cover those four countries. The Cockatrice is a combination of a Cock and a Dragon, the former representing the homestead, the latter being the guardian of the Treasure; the one provides the home which is represented by the other. The Escutcheon is taken from the Arms of the Borough of Holborn, to represent the Headquarters of the Society.[6]
Adopted
27 September 1954
Crest
Four Keys wards upwards and outwards in saltire Or enfiled by A Chaplet of Daffodils proper, Roses Gules and Thistles and Shamrock also proper.
Escutcheon
Per chevron Azure and Or in chief on a Rock proper a triple towered Castle Gold and in base a Dragon couchant wings elevated and addorsed Gules.
Supporters
On either side a Cockatrice Argent combed wattled and armed Gules each gorged with a Collar or pendent therefrom an Escutcheon barry wavy of ten, also Argent and Azure.
Motto
STEP BY STEP

See also

References

  1. ^ Mutuals Public Register (No. 141B) Financial Services Authority (retrieved 17 November 2009)
  2. ^ Mansbridge, Albert Brick upon Brick: 50 years of the Co-operative Permanent Building Society London: JM Dent & Sons, 1934
  3. ^ a b c d e f g h i j k l m n o p q r s t u v Cassell, Michael Inside Nationwide: 100 Years of Co-operation London: Nationwide Building Society, 1984 (ISBN 9780950838205)
  4. ^ "Nationwide Building Society Timeline 1970". Facebook. Archived from the original on 28 October 2013. Retrieved 16 November 2015.
  5. ^ Extract from Building Societies Yearbook 2009/10 Archived November 9, 2013, at the Wayback Machine (p.130) Building Societies Association (retrieved 17 November 2009)
  6. ^ "'Co-operative Permanent Building Society'". Archived from the original on 24 July 2021. Retrieved 8 November 2022.
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