Co-op takes on Lloyds TSB and C&G branches

9:30am Saturday 21st July 2012 in News

FOUR branches of Cheltenham and Gloucester and two branches of Lloyds TSB in Oxfordshire will be bought by The Co-operative as part of a multi-million transfer.

The two banking groups have signed an agreement which will see 632 branches owned by Lloyds Banking Group become Co-operative banks.

Lloyds branches in Millbrook Square in Grove and Market Place in Wantage will be transferred, as will Cheltenham and Gloucester branches in George Street, Oxford, High Street, Banbury, High Street, Witney and Stert Street, Abingdon.

The Co-op will pay an initial £350m as part of the deal, which will be completed towards the end of next year, with a further £400m based on performance up until 2027.

Comments(4)

Andrew:Oxford says...
10:16am Sat 21 Jul 12

The C&G branch in Templars Square, Cowely will also be transferred to the Co-op under "Project Verde".

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Headington_angel says...
10:47am Sat 21 Jul 12

Any chance of a branch of 'The Co-operative Bank' opening in Headington?. Just as it is a pain to have to keep going into Oxford City.

And why open another branch in Oxford City when one is literally around the corner?!.

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Andrew:Oxford says...
12:58pm Sat 21 Jul 12

Headington_angel wrote:
Any chance of a branch of 'The Co-operative Bank' opening in Headington?. Just as it is a pain to have to keep going into Oxford City.

And why open another branch in Oxford City when one is literally around the corner?!.
Just open an account at the branch of any bank in Headington that has the shortest queue.

When funds are cleared, transfer electronically to your primary personal account with the Co-op.

You can have as many bank accounts as you like, so open up an account with more than one bank in Headington so you could even choose the shortest queue on the day for deposit.

Similarily with withdrawals. Have more than one account and when you've joined the queue, go to online banking and transfer the money to the right one. It's mostly instant nowadays.

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RJOxford says...
8:23pm Sat 21 Jul 12

There has never been a Cheltenham and Gloucester in Abingdon - the branch in Stert Street was a TSB Bank, which it will revert to as these branches that have been bought by the Co-op will adopt the TSB brand in the first instance.

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