Kent Reliance Provident Society: Difference between revisions
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'''Kent Reliance Provident Society''' '''(KRPS)''' is an [[industrial and provident society]] in the [[United Kingdom]], it is also a member of [[Co-operatives UK]].<ref>{{cite web|title=Co-operatives UK- KRPS|url=http://www.uk.coop/organisation/kent-reliance-provident-society-limited.}}</ref> KRPS currently holds the majority of shares in [[OneSavings Bank|OneSavings Bank Plc]]<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 on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc.<ref>{{cite web| url=http://www.krps.com/introduction.htm|title= KRPS:Introduction}}</ref> The remaining shares in OneSavings Bank Plc are owned by the [[private equity firm]] [[JC Flowers]]. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members, compared to the 75% required to approve it. |
'''Kent Reliance Provident Society''' '''(KRPS)''' is an [[industrial and provident society]] in the [[United Kingdom]], it is also a member of [[Co-operatives UK]].<ref>{{cite web|title=Co-operatives UK- KRPS|url=http://www.uk.coop/organisation/kent-reliance-provident-society-limited.}}</ref> KRPS currently holds the majority of shares in [[OneSavings Bank|OneSavings Bank Plc]]<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 on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc.<ref>{{cite web| url=http://www.krps.com/introduction.htm|title= KRPS:Introduction}}</ref> The remaining shares in OneSavings Bank Plc are owned by the [[private equity firm]] [[JC Flowers]]. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members, compared to the 75% required to approve it. |
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KRPS claims on its 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 its stake in OneSavings Bank.<ref>{{cite news| url= |
KRPS claims on its 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 its stake in OneSavings Bank.<ref>{{cite news| url=https://www.bbc.co.uk/news/business-10849892|title=BBC News: Kent Reliance Building Society unveils banking plan | date=3 August 2010}}</ref> |
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All members of the former [[Kent Reliance Building Society]] became members of KRPS on 1 February 2011.<ref>{{cite web|url=http://www.krps.com/yourquestions.htm |title=KRPS:Your Questions}}</ref> |
All members of the former [[Kent Reliance Building Society]] became members of KRPS on 1 February 2011.<ref>{{cite web|url=http://www.krps.com/yourquestions.htm |title=KRPS:Your Questions}}</ref> |
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Revision as of 03:42, 20 June 2018
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| Company type | Mutual |
|---|---|
| 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) is an industrial and provident society in the United Kingdom, it is also a member of Co-operatives UK.[1] KRPS currently holds the majority of shares in OneSavings Bank Plc[2] following the transfer of the Kent Reliance Building Society business to OneSavings Plc on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc.[3] The remaining shares in OneSavings Bank Plc are owned by the private equity firm JC Flowers. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members, compared to the 75% required to approve it.
KRPS claims on its 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].",[4] however, this could change in the future if KRPS reduces its stake in OneSavings Bank.[5]
All members of the former Kent Reliance Building Society became members of KRPS on 1 February 2011.[6]
KRPS Rewards
KRPS Rewards is a cashback and discount club which is free to join for KRPS members.[7]
References
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