Impact Assessment Bath StreetJanuary 2021

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About Coventry Building Society Coventry Building Society is a mutual organisation owned by you, our members. Our story is a strong one: for over 135 years, we’ve put our members first. We keep your money safe and provide great value and service. We are also growing our membership and investing in your future, looking forward not back to stay relevant in a changing world.

Branches are changingWe’re committed to providing the very best branch service for years to come. That’s why we’re investing in the redesign of our branches, making them accessible, welcoming and easy to use. You can already see the benefits of the new design at a number of branches in Warwickshire – Parade, Kenilworth, Stratford-upon-Avon and Warwick have all been getting fantastic feedback from members.

Members tell us they want to be able to talk to us face-to-face about their money. So our updated branch design has far more space so we can sit down with you to help with more complex queries when it’s safe to do so.

Of course, people still need to be able to pay in and withdraw from their accounts, and we haven’t forgotten about that. Members tell us they prefer the human touch, and you’ll still have that at your local branch, even if it’s just a quick visit.

A trend in today’s financial services, even before the current pandemic, is that people are doing more transactions themselves rather than in branches. This is particularly affecting our branches, some of which are close together or on quieter high streets.

We want people to save with Coventry Building Society, and so it is important that we’ve got the right branches, in the right locations, with the right opening hours to meet the needs of our members.

We can also send you this leaflet in large print, Braille or on audio CD. Call us on 0800 121 8899 and we’ll be happy to help.

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What changes are we making in Leamington Spa?We will not be re-opening our Bath Street branch and it will be permanently closing on Saturday 1 May 2021.

As many of you will already be aware, our branch in Bath Street has been closed since March last year, due to its small size making it unsuitable for members and employees during the coronavirus pandemic. During this time, the majority of our members have been regularly using other local branches to manage their accounts.

The decision not to re-open Bath Street branch has been difficult but it is due to a combination of the size of the branch, its location and changes to how people are using our branches.

Colleagues from this branch will continue to work at our branch on the Parade in Leamington Spa.

Who you can speak to

If you think you might be affected by this, just visit any branch and speak to the team there. Or you can call us on 0800 121 8899.

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Impact Assessment - how and why we decided to do thisThe Access to Banking Standard requires organisations to publish an Impact Assessment when they close any branches.

We’ve chosen to publish this document to do the right thing for our members, to make sure they’re informed of our plans. In this instance we are permanently closing our Bath Street branch.

Although the branch is already closed, we’ll provide an update with any feedback we’ve received and how we’re going to answer any issues or concerns raised, two weeks before the official closure date of our branch.

When we were looking at this, we considered a number of things. First of all, we thought about how it might impact any members. We looked at how suitable Bath Street branch is, including how it is being used, where it is located and what alternatives there are for members in the area.

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Why have we chosen to close Bath Street branch?Transactions have fallen across our branch network. However, this is happening in some branches at a faster rate than others, particularly branches that are close to each other or on quieter high streets. Over the last five years, the number of people using Bath Street branch has been falling.

Reduction in transactions over the last five years (%) *

% of people who use the branch on average more than once a month **

% of people who use the branch on average less than once a month **

Bath Street -19.09% 17.82% 71.33%

*Data reflects transactions between 1 March 2015 – 29 February 2020

** Based on transactions between 1 September 2019 to 30 November 2019

One of the reasons for this is that people are doing more transactions themselves rather than visiting branches. Although when people do visit our high street branches, research shows that top of their list is a central location where they can combine visits to the branch with their busy work life or shopping, which our Bath Street branch doesn’t offer.

Another reason we’ve decided to close our Bath Street branch is that it’s just too small. It is roughly the size of 4-5 average car parking spaces and it’s not always easy to park nearby either. We want our branches to work for everyone, including members with disabilities or young families.

Our Parade branch which is only a short distance away from Bath Street, is a much larger branch and is in a busy and convenient shopping location. The branch has already been upgraded to showcase our popular new design and has multiple meeting areas and rooms. In addition we have created a community heart area which is a designated space for the use of our community partners for fundraising and raising awareness of the important work they do.

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Parade

Parade

Regent Grove

Leam Terrace

New StA452

A425 High St

Radford Rd

Lower Ave

Tachbrook Rd

A452

Newbold Terrace

Bath Street Branch

A

B

C

D

E

Nisa local

Co-op food

Leamington Spa Railway Station

Midcounties

HSBC Bank

Cash machines near our Bath Street branch

A - Nisa local, 29-33 High Street, Leamington Spa CV31 1LN (338 ft.)

B - Co-op food, 34-56 Clemens Street, Leamington Spa CV31 2DN (0.1 miles)

C - Leamington Spa Railway Station, Old Warwick Road, Leamington Spa CV31 3NS (0.3 miles)

D - Midcounties, Co-op, 156 Parade, Leamington Spa CV32 4BQ (0.3 miles)

E - HSBC Bank, 126 Parade, Leamington Spa CV32 4AJ (0.4 miles)

Distances are approximate

What alternatives are there in your area?It’s important to us that members can still access their accounts after Bath Street branch closes. So we considered cash machines in the local area that are free to use.

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Other Coventry Building Society branches in the area

BranchesDistance from Bath Street branch

Leamington Spa - Parade - 11-13 Parade, Leamington Spa CV32 4DG

Tel – 01926 887788

0.6 miles

Warwick - 17 Old Square, Warwick CV34 4RU

Tel – 01926 4931152.8 miles

Kenilworth - 32 The Square, Kenilworth CV8 1EB

Tel – 01926 8549715.2 miles

Southam - 53 Coventry Street, Southam CV47 0EP

Tel – 01926 8154547.2 miles

Distances are by car and are approximate

War

wic

k by

pass

A46

War

wic

k by

pass

A46

Warw

ick R d

Beric ote Rd

Welsh Rd

Welsh Rd

Wels h Rd

A452A

45 2

Birmingham Rd

Cove

ntry

Rd

Emscote Rd

Rugby R

d

M40

M40

A423

A

423

A423

Foss

e Way

Foss

e W

ay

Foss

e W

ay

Weston Rd

Long Itchington Rd

Myton Rd Radford Rd

Southam Rd

Southam Rd

Tachbro ok Rd

A452

A

452

Leamington Spa - Parade Branch

Kenilworth Branch

Southam Branch

Warwick Branch

Bath Street Branch

As well as our upgraded Parade branch, we’ve got three more local branches – all a short drive away from Bath Street branch.

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Parade – your nearest branch

The closest branch to Bath Street is only 0.6 miles away at our Parade branch.

Address Opening Hours

11-13 Parade, Leamington Spa CV32 4DG

Telephone:

01926 887788

Monday 9.00am - 3.00pm

Tuesday 9.00am - 3.00pm

Wednesday 9.30am - 3.00pm

Thursday 9.00am - 3.00pm

Friday 9.00am - 3.00pm

Saturday 9.00am - 12.00pm

Sunday Closed

These are the temporary opening hours for our Parade branch. They are correct at January 2021 and may change in future so please check our website.

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A45

2

A45

2

Russell St

Windsor st

Tavistock St

Parade

P

arade

Parade B

ath St

Clarendon Ave

Warwick St

Regent St

Dormer Pl

Regent Gro

ve

Newbold Terrace

Avenue Rd

Priory Terrace

A425 High St A425

High St

Bath Street Branch

Leamington Spa - Parade Branch

The RoyalPriors

Jephson Gardens

Royal PumpRoom Gardens

By foot - our Parade branch is located very close to Bath Street branch and is only about a 12 minute walk.

Bus services - there’s a regular bus service between Bath Street and our Parade branch, with buses leaving frequently.

There are a number of bus stops within a few minutes’ walk of Bath Street and the journey is approximately 5-10 minutes long to the Upper Parade stop. From here it’s about a one minute walk to our Parade branch.

Driving - there are several car parks nearby, most of which are within a five minute walk to the branch. Most of these have disabled spaces and some have parent and child spaces and electric car charging points. The nearest car parks are:

• Chandos Street, Leamington Spa CV32 4RT • Covent Garden Multi Storey, Leamington Spa CV32 5QB • Covent Garden Surface car park, Leamington Spa CV32 5QB • Royal Priors, Park Street, Leamington Spa CV32 4XT

Getting to Parade branch

Other ways of using your accountYou can manage your money over the phone. Our Customer Service Centre is open Monday to Friday 8am-7pm and Saturday 9am-2pm. The number is 0800 121 8899.

Managing your money online - it’s quick and convenient to manage your money using our 24-hour Online Services. You can securely check your balance and interest rate, make or cancel payments and open new savings accounts without leaving the house. It’s straightforward to register and all the help you need is available online at thecoventry.co.uk

You must be aged 16 or over and if you have joint accounts, each account holder will need to register separately. If you don’t have a Coventry password, or you’ve forgotten it, please call us on 0800 121 8899.

Who you can speak toIf you think you might be affected by this, just visit any of our branches and speak to the team there. Or you can call us on 0800 121 8899.

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Contact us

At a branchFor details of our opening hours, visit thecoventry.co.uk

By postEconomic House, PO Box 9, High Street, Coventry CV1 5QN

Onlinethecoventry.co.uk

By phone0800 121 8899

Coventry Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (www.fca.org.uk) and the Prudential Regulation Authority firm (reference number 150892).

Our Customer Service Centre is open Monday to Friday 8am-7pm and Saturday 9am-2pm.

Calls to 0800 numbers are free when made from the UK. You may be charged for calls to all other numbers, please contact your service provider for further details. We may monitor, record, store and use telephone calls to help improve our service and as a record of our conversation.

Information correct at January 2021.

Coventry Building Society. Principal Office: Economic House, PO Box 9, High Street, Coventry CV1 5QN.18

465

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