Cheltenham and Gloucester
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| C&G | |
| Subsidiary undertaking | |
| Industry | Finance and insurance |
| Founded | Cheltenham, United Kingdom (1850) |
| Headquarters | Barnwood, Gloucestershire, United Kingdom |
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Area served
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| Products | Financial services |
| Parent | Lloyds Banking Group |
| Website | www |
Cheltenham & Gloucester plc (C&G) was a mortgage and savings provider in the United Kingdom, a subsidiary of Lloyds Banking Group. C&G specialises in mortgages and savings products. Previously, C&G was a building society, the Cheltenham and Gloucester Building Society. Its headquarters were in Barnwood, Gloucester, Gloucestershire, England. C&G was closed to new mortgage and savings business on 9 September 2013.
The branch network of Cheltenham & Gloucester was transferred to the newly established TSB Bank plc in September 2013, as part of a divestment of a significant portion of the Lloyds TSB business by Lloyds Banking Group. C&G branches were rebranded under the TSB brand along with a number of Lloyds TSB branches in England and Wales. Some C&G savings accounts and mortgages were also transferred to the new TSB Bank at that time; others remained with C&G.
In April 2017, all remaining mortgage administration was transferred to Lloyds Bank and rebranded and the only remaining products were legacy savings accounts, with the last remaining C&G Fixed Rate Cash ISAs maturing in 2017.
C&G can trace its roots back to the Cheltenham and Gloucestershire Permanent Mutual Benefit Building and Investment Association. Its inaugural meeting, held at the Belle Vue Hotel, Cheltenham took place on 7 August 1850, and the society shortened its name to Cheltenham and Gloucestershire Benefit Building Society. The first President of the society was James Downing, of Cheltenham. Downing believed in a philosophy whereupon it was a citizen's duty to help other citizens and this was a driving force for him in helping the poor to achieve stability through home ownership. Even so, the Society was run rather shrewdly, and upon Downing's death in 1868, it had an annual income of £37,000.
At first the Society was based in Cheltenham; its first Gloucester branch opened in 1896. Over the next 80 years, it expanded throughout the UK, opening its 100th branch in Pershore in 1979. During the 1980s, C&G acquired several smaller building societies, as consolidation of the sector intensified. C&G's headquarters were at Cheltenham House in central Cheltenham until their move to Barnwood in 1989. The then building society had commissioned a sculpture by British artist Barbara Hepworth, "Theme and Variations", which can still be seen displayed on the front of Cheltenham House.
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