Unity Trust Bank
Unity Trust Bank plc provides specialist business banking services to trade unions, charities and other organisations that operate in the not-for-profit sector in the United Kingdom and, since 2015, its remit has expanded to include profit-with-purpose businesses. Founded in 1984, head office is located at Four Brindleyplace, Birmingham. HistoryOriginally a licensed deposit taking institution, Unity Trust Limited acquired full status as a bank in 1987.[1][2] OwnershipHistorically, Unity Trust Bank was majority owned by individual trade unions and federations (73.23%) and The Co-operative Bank owned the remainder (26.7%) through its subsidiary, Co-operative Commercial Limited.[1] In 2015, Unity bought back shares from Co-operative Commercial Limited, which reduced The Co-operative Bank's holding to 6.7%.[3] Unity Trust's new articles of association redesignated all shares into a single class, all ranking pari passu, and removed the different rights of the old classes and created additional shares. As a result, new shareholders have invested in Unity Trust and the Co-operative Bank no longer has a controlling interest or the right to appoint directors.[4] The Co-operative Bank's stake was put up for sale in 2014, in an attempt to restore Coop Bank's profitability following a capital shortfall.[5] ActivitiesIn its founding principles, the bank was established as “an organisation identified with and embracing the philosophy of the common good.” It promotes a socially responsible and sustainable approach to banking and lending.[6] Unity Trust Bank was rated top in eight out of nine customer satisfaction categories in the Charity Finance Banking Survey 2015.[7] In 2013, it became the first British bank to be awarded the Living Wage Employer Accreditation Mark.[8] The Co-operative Bank acted as the bank's clearing agent until 2015, when accounts migrated to a NatWest sort code. See alsoReferences
External links
|
||||||||||||||||||
Portal di Ensiklopedia Dunia
