Co-operative Bank rolls out branch network

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The Co-operative Bank has completed the integration of Britannia Building Society today as 245 Britannia branches start to offer Co-op banking services.

The Co-op took over Britannia in 2009, but until now Britannia’s branches could only be used by Britannia customers.

Now Co-op customers can carry out everyday banking services in the branches which have been re-branded with signs showing they are part of the new Co-operative Bank.

The Co-op now has 342 branches, and it has plans for further expansion.

The new bank in town

The move means it could be the first building society to approach the size and market domination of Nationwide and could provide competition against the 'Big Five' high street banks.

The bank is a member-owned mutual organisation, so customers get shares in the profits and a say in how the business is run. It also doesn’t engage in investment banking, which should reassure customers following the financial crisis.

Possibly as a result of this the bank has seen a 73% increase in the number of new current accounts opened in the first half of this year.

"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," says Rod Bulmer, managing director of retail for The Co-operative Bank.

Published: 05 September 2011
Last updated: 06 September 2011

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