Kent Reliance Provident Society: Difference between revisions
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{{Short description|2011–2022 UK industrial and provident society}} |
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{{Use dmy dates|date=April 2022}} |
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{{Infobox company |
{{Infobox company |
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|name |
|name = Kent Reliance Provident Society |
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|logo |
|logo = Kent Reliance Provident Society logo.png |
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| genre = |
| genre = |
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| foundation = 2011 |
| foundation = 2011 |
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| key_people = Malcom McCaig |
| key_people = Malcom McCaig |
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| industry = [[Financial services]] |
| industry = [[Financial services]] |
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| type = [[ |
| type = [[Mutual organization|Mutual]] |
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| products = |
| products = |
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| revenue = |
| revenue = |
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| parent = |
| parent = |
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| divisions = |
| divisions = |
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| subsid =[[OneSavings]] (59.9% [[share]]) |
| subsid =[[OneSavings Bank]] plc (59.9% [[Share (finance)|share]]) |
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| slogan = |
| slogan = |
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| homepage = |
| homepage = {{url|www.krps.com}} |
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| footnotes = |
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| intl = |
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'''Kent Reliance Provident Society''' (KRPS) was an [[industrial and provident society]] in the United Kingdom, formed as part of the transfer in 2011 of [[Kent Reliance|Kent Reliance Building Society's]] business to OneSavings Bank plc (OSB). |
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'''Kent Reliance Provident Society''' '''(KRPS)''' is an [[Industrial and Provident Society]] in the [[United Kingdom]]. KRPS currently holds the majority of shares in [[OneSavings]]<ref>{{cite web|title=Kent Online:Kent Reliance Building Society to become a bank|url=http://www.kentonline.co.uk/kentonline/news/2010/november/19/kent_reliance_building_society.aspx}}</ref> following the transfer of the [[Kent Reliance Building Society]] business to [[OneSavings]] PLC in Feburary 2011. <ref> {{cite web| url=http://www.krps.com/introduction.htm|title= KRPS:Indroduction}}</ref> The remaining shares in [[OneSavings]] are owned by the [[private equity firm]] [[JC Flowers]].The transfer was narrowly approved by Kent Reliance Building Society members <ref>{{cite web|title=Wikipedia: OneSavings|url=http://en.wikipedia.org/wiki/OneSavings}}</ref>, 75.8% of members voted for the tranfer, with 75% required to approve it. |
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KRPS claims on it's website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation [Of KRBS]."<ref> {{cite web| url=http://www.krps.com/yourquestions.htm|title=KRPS:Your Questions}} </ref> ,however, this could change in the future if KRPS reduces it's stake in OneSavings.<ref> {{cite web| url=http://www.bbc.co.uk/news/business-10849892|title=BBC News: Kent Reliance building society unveils banking plan}} </ref> |
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The membership of the former building society was transferred to KRPS while OSB, trading as Kent Reliance, krbs and Kent Reliance Banking Services, continued the banking activities. |
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All members of the former [[Kent Reliance Building Society]] became members of KRPS as of Feburary 1st 2011. <ref>{{cite web|url=http://www.krps.com/yourquestions.htm |title=KRPS:Your Questions}} </ref> |
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OSB subsequently combined with Charter Court Financial Services in 2020 to form OSB Group.<ref>{{Cite web |title=Disclaimer Combination with Charter Court Financial Services |url=https://www.osb.co.uk/disclaimer-combination-with-charter-court-financial-services/ |access-date=2024-01-30 |website=www.osb.co.uk}}</ref> |
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==KRPS Rewards== |
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'''KRPS Rewards''' is a discount club which is free to join for KRPS members.<ref> {{cite web| url=https://www.krpsrewards.com/krps-benefits.php|title= KRPS Rewards}}</ref> |
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Due to the fact that the Society had evolved significantly from its original conception, at the Annual General Meeting on 26 July 2022 the members agreed a proposal to wind up the Society.<ref>{{Cite web |title=Future proposals {{!}} Kent Reliance Provident Society |url=https://www.krps.com/future-proposals |access-date=2024-01-30 |website=www.krps.com}}</ref> Its assets to be transferred into a new charity, the ‘Kent Reliance Community Foundation Limited’. |
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==See Also== |
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[[Kent Reliance Building Society]] |
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As a result of this decision it is no longer possible to apply to become a member of KRPS. |
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[[OneSavings]] |
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[[JC Flowers]] |
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==References== |
==References== |
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{{Reflist}} |
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Latest revision as of 22:32, 7 June 2024
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| Company type | Mutual |
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| Industry | Financial services |
| Founded | 2011 |
| Headquarters | Chatham, Kent, United Kingdom |
Key people | Malcom McCaig |
| Subsidiaries | OneSavings Bank plc (59.9% share) |
| Website | www |
Kent Reliance Provident Society (KRPS) was an industrial and provident society in the United Kingdom, formed as part of the transfer in 2011 of Kent Reliance Building Society's business to OneSavings Bank plc (OSB).
The membership of the former building society was transferred to KRPS while OSB, trading as Kent Reliance, krbs and Kent Reliance Banking Services, continued the banking activities.
OSB subsequently combined with Charter Court Financial Services in 2020 to form OSB Group.[1]
Due to the fact that the Society had evolved significantly from its original conception, at the Annual General Meeting on 26 July 2022 the members agreed a proposal to wind up the Society.[2] Its assets to be transferred into a new charity, the ‘Kent Reliance Community Foundation Limited’.
As a result of this decision it is no longer possible to apply to become a member of KRPS.
References
[edit]- ^ "Disclaimer Combination with Charter Court Financial Services". www.osb.co.uk. Retrieved 30 January 2024.
- ^ "Future proposals | Kent Reliance Provident Society". www.krps.com. Retrieved 30 January 2024.