C&G Quick Stats

Type Subsidiary undertaking
Industry Finance and insurance
Founded 1850
Headquarters Barnwood, Gloucestershire, United Kingdom
Number of locations 160
Products Financial services
Employees c. 1660 (branch staff)
Parent Lloyds Banking Group
Website

Brief History Of C & G

Cheltenham & Gloucester can trace its roots back to the Cheltenham & Gloucestershire Permanent Mutual Benefit Building and Investment Association in 1850. At first the Society was based in Cheltenham, its first Gloucester branch opening in 1896. Over the next 80 years, it expanded throughout the UK, opening the 100th branch in Pershore in 1979. Throughout the 1980s, the C&G acquired several smaller building societies, as consolidation of the sector intensified.

In 1997, Cheltenham & Gloucester agreed to a takeover approach from Lloyds Bank. This involved the demutualisation of the society, and generated a windfall payment to its members.

Today, Cheltenham and Gloucester mortgages are designed, marketed, sold and administered by Cheltenham & Gloucester plc, while Lloyds TSB Bank is the lender for C&G mortgages. On the savings side, C&G Savings is a division of Lloyds TSB Bank plc.