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Banking Group & Lloyds: Latest News

Co-operative Banking Group
Joint Trades Union Announcement

The Joint Trades Unions (JTU) welcome today’s announcement by the Co-operative Banking Group (CBG) that the Lloyds Banking Group has agreed to exclusive discussions with CBG regarding the possible purchase of 632 Lloyds bank branches.  The JTU see this potential expansion as a very positive acquisition for CBG and the wider finance industry, especially in the current economic climate. 
 
Should these discussions lead to a successful conclusion, then the additional branches would give CBG a much greater high street presence and a greater share of the banking market.  It is likely that any deal would take a significant period to achieve, and consequently there should be no impact for some considerable time. 
 
The JTU have been kept abreast of developments in the past few weeks, and have already met with CBG senior management.  All unions will be fully involved as always.
 
We appreciate that staff may have concerns, but this is the start of a very long process.
We will of course act to protect the best interests of members. 
 
If you are not already a member of your respective trades union, then we strongly encourage you to join now. CFS strongly supports trade union membership.

Trades Union Contact DetailsNACO– contact the NACO office on 0161 351 7900.
Unite – members can contact their local representative or the Unite union office at CFS via e-mail  (union.office@cis.co.uk)
BSU – contact the BSU office in Leek on 01538 399627.