Stroud & Swindon Coventry merger approved

A spokesperson from the Building Societies Association Good news for Stroud & Swindon members who will benefit from being part of the Coventry Building Society and wider access to services.

The expanded society will be called Coventry Building Society and will be based in Coventry. Total membership will increase from over 1.2 million to around 1.5 million, and the overall asset size will increase from £18.4 billion to £21.1 billion.

David Stewart, chief executive of Coventry Building Society, said: “Coventry’s performance over the last 3 years has demonstrated the strength of our traditional building society model. I believe that the merger with Stroud & Swindon Building Society will help us build on recent successes and bring the benefits of our prudent and member-focussed approach to a wider membership.”