History
The Southern Co-operative Permanent Building Society was formed in 1884, initially to provide a service to the members of the co-operative movement, enabling them to own their own properties. To begin with the Society built the houses but soon changed its direction to lend money to members for them to build their own or purchase existing properties. Competition soon began between societies and members from outside the movement joined.
Through rapid expansion and strategic planning the Society soon grew to become a major competitor and by 1943 it was fifth largest in the United Kingdom with assets of £32,724,112.
Read more about this topic: Co-operative Permanent Building Society
Famous quotes containing the word history:
“Gossip is charming! History is merely gossip. But scandal is gossip made tedious by morality.”
—Oscar Wilde (1854–1900)
“Those who weep for the happy periods which they encounter in history acknowledge what they want; not the alleviation but the silencing of misery.”
—Albert Camus (1913–1960)
“We don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)