Bringing Coventry Building Society and The Co-operative Bank together
August 2026
On 1 January 2025, Coventry Building Society (the Society) purchased The Co-operative Bank (the Bank). Both our organisations have strong histories built on ethics and values.
We’re now working on the next steps to bring our organisations together. To do this we’re proposing to transfer the Bank’s business, including smile, to the Society. We expect this to happen on 1 January 2027, subject to Court approval of the proposed transfer.
The proposed transfer of The Co-operative Bank to the Society will not impact your account with the Society and there’s nothing you need to do to maintain your day-to-day banking. But if you have accounts with The Co-operative Bank (including smile), you will have received a letter or an email, and we recommend that you read the documents on The Co-operative Bank website.
What if I am a customer of Coventry Building Society and The Co-operative Bank?
If you are a customer of Coventry Building Society and The Co-operative Bank your FSCS eligible deposit protection may be affected. If you have eligible deposits protected by the Financial Services Compensation Scheme (FSCS), such as savings with The Co-operative Bank please download the customer booklet from The Co-operative Bank website. This will help you to decide if you need to do anything to keep your eligible deposits protected by the FSCS, should the proposed transfer be approved by the Court.
What are the next steps?
Where to find out more, or ask questions directly;
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