Coventry Building Society moves to fully absorb Co-op Bank
Coventry Building Society has begun contacting Co-operative Bank customers about a proposed legal transfer process that would formally merge the bank’s business into the society, following its acquisition of the bank in January 2025.
The process, known as a Part VII Transfer, received High Court approval to proceed on 18 August, allowing the Co-operative Bank to begin communicating with customers and suppliers. A final court hearing is scheduled for 2 December, with the transfer expected to complete on 1 January 2027 if approved.
There will be no changes to how customers use their accounts or banking services while the process is under way, and customers do not need to take any immediate action.
If approved, customers’ accounts will transfer to Coventry Building Society, with some customers potentially becoming members of the mutual depending on the products they hold. The Co-operative Bank and smile brands will continue operating as trading names after the transfer.
Rachel Macfarlane, general counsel at Coventry Building Society, said the process marked an important step in bringing the Co-operative Bank into the society and creating a simpler structure for the future. She said the legal process was technical but that what customers needed to know was straightforward, with no changes to day-to-day banking as a result of the announcement.
