Open letter from Coventry Building Society CEO Steve Hughes to the Co-operative Movement

On January 1, 2025, we welcomed The Co-operative Bank into the Coventry Building Society family.

I wanted to take time to introduce myself as the Group Chief Executive Officer of Coventry Building Society to all members of Co-operatives UK. 2025 is a momentous year for the Society and for The Co-operative Bank as we bring together our shared heritage and nearly 300 years of experience into one forward-looking financial services provider.

My ambition for our combined organisation is to deliver the outstanding value, service, and security our customers and members expect, while building on the ethical, purpose-driven foundations that differentiate us today.

Co-operative values and mutual ownership are an important part of our Group identity, and over time, our aim is to be the banking provider of choice for co-operative businesses. It is an ambitious vision which we know will take time to deliver. In the meantime, I look forward to meeting many of you, and learning about the important contribution the co-operative sector makes to society.

Our customers

The return to mutual ownership has been a long time coming and I hope you are already thinking about the opportunities it will bring. I also know we have work to do as we integrate and shape our future services.

This means that we will continue to operate as The Co-operative Bank and Coventry Building Society for the time being, and so there is no change to the way current customers use our products or services right now.

Find out more

If you would like to find out how we support businesses like yours, please visit our dedicated webpage where you can explore the services we offer.

I am very excited about the future, and look forward to getting to meet many of you and learning more about the co-operatives sector over the years to come.

Steve Hughes
Group Chief Executive
Coventry Building Society Group