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All C&G branches to shut

All C&G branches to shut

Category: Money

Updated: 09/06/2009
First Published: 09/06/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
All 164 branches of Cheltenham & Gloucester (C&G) are to be shut as a result of organisational changes made by Lloyds Banking Group.

As a result of the changes up 833 full time jobs will be lost when the branch network shuts in November. Lloyds said the brand would be kept for mortgages and savings, as current clients will continue their home loan under the C&G name.

New customers will still be taken on through mortgage brokers.

Concerned customers have been assured that they can manage their C&G mortgage and savings account at any of the 1,800 plus Lloyds TBS branches across the UK. Additionally, accounts can still be managed over the phone or by post and there will be no changes to the original terms and conditions of existing savings and mortgage products.

The group has also revealed that home loans will no longer be available from Bank of Scotland and Intelligent Finance from 1 July, meaning a further 159 jobs will be lost. Its personal loans product team is to move from Chester to London by the end of 2011, while the number of people employed at its Black Horse sales centre will be cut.

In total, around 1,660 jobs will be lost as a result of the organisational reshuffle. The group said it is committed to working through these changes with colleagues carefully and sensitively.

"Cheltenham & Gloucester is a very strong brand," said Helen Weir, group executive director, retail at the Lloyds banking Group. "The strategic focus for C&G from now on will be to further strengthen its intermediary and direct savings business.

"Another major priority for us is to ensure that we manage the closure of the C&G branch network so that it causes as little disruption as possible to our customers."

The announcement comes just a week after Santander revealed that Abbey, Alliance & Leicester and Bradford & Bingley are all to be rebranded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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