This was a largely untapped market, as many women had never had a bank account of their own. The campaign was aimed at housewives and business women alike. Lloyds Bank installed a temporary branch at the site of the London Olympic Games.
It offered the usual banking services, and was staffed by linguists. Other members of staff were actively involved in the Games too.
The manager of Teddington Branch was responsible for ensuring that the Olympic Flame remained alight. Its flame had been burning continuously since leaving Greece several weeks earlier. Should any Torch fail, it could be relit from the lamp. In , Lloyds Bank abolished the marriage bar. This had required all women to resign on marriage. This meant, for the first time, that women could think of their job at Lloyds as a career.
Until then, it was just a means of earning a living before they got married. In , one young clerk had successfully concealed her marriage for a whole year. However, on finding out, the Bank dismissed her. The savings bank movement grew in strength during both world wars.
The banks acted as agents for the sale of Government stocks - war savings certificates and defence bonds proved popular with depositors. Further branch expansion occurred after , when a Mutual Assistance Scheme was established. This enabled richer banks to lend money to set up new banks, or extend existing ones. Fifty-nine new offices were opened as a result. By joining forces, the branch network was nearly doubled.
The Glasgow Union Banking Company was founded in Thirteen years later, after a series of takeovers, it was renamed the Union Bank of Scotland. This reflected its now national status. A high proportion of the Bank's lending was to heavy industry. But problems in this sector affected the Bank, leading it to later seek a merger. In , Bank of Scotland became the first UK bank to introduce a computer for centralised accounting. Computers were to revolutionise the banking industry. The Bank's Centralised Accounting Unit initially served just four branches.
It took a decade to transfer all customer accounts onto the system. The arrival of the first computer was a source of great excitement. Several branch managers were taken to see it at the George Street office in Edinburgh. Only a few were allowed in at a time, for fear their body heat would cause the machine to malfunction!
The late s and early '60s saw mainstream banks turn to mass-marketing, in a drive to widen their customer base. Advertising in national newspapers became the norm. Bank of Scotland launched this campaign in , encouraging people 'in all walks of life' to give their services a try.
Banks also courted new markets by radically expanding their branch networks. They opened branches in new locations such as universities, industrial estates, airports and the post-war New Towns. Success was limited, however. The trustee savings bank movement celebrated its th anniversary in As part of the celebrations, the TSB Association commissioned a new national logo. The aim of the logo was to enhance the local image of the individual savings banks, while signalling their part in a nationwide movement.
It was simple, easily recognised and could be used in a variety of layouts. The logo was launched in , and proved an immediate success. The idea was to make banking faster and simpler. Drive-ins were pioneered in the USA, in the s. They are more usually associated with cinemas or fast-food chains. The High Wycombe drive-in bank was one of the first in the UK. However, the concept never really took off, and only a handful ever opened. The computerisation of branch accounting systems at Lloyds began in Early computers were so large that scaffolding and cranes were often needed to install them.
On occasions, a hole had to be made in the wall. By October , Lloyds had transferred its entire branch network onto a computerised accounting system. The Bank's aim had been to complete the project before the introduction of decimalisation, in February In April , Bank of Scotland launched its first fleet of mobile banks.
These served rural communities in the Bathgate and Haddington areas. The mobile banks were well received. Over the course of the following year, the Bank extended the service to north-west Scotland and the Isle of Skye. A floating bank was also introduced around this time, to serve the outlying districts of the Orkney Islands.
It was operated from the 'M. Orcadia', a passenger and cargo vessel. Customers could now withdraw cash even when their branch was closed. Customers were given personal code numbers to activate the machines, similar to the modern PIN. These were fed into the machine, and the corresponding amount later debited from the customer's account. The machines proved popular, and by the end of , there were 26 in operation across Scotland. By the s, Lloyds had offices across the globe.
The integration of the two businesses, and two cultures, was a major undertaking — one company covered Europe and the other South America. But the merger was successful. A stronger, bigger bank was created, and the foundations laid for further international expansion. By , more than 2, were in operation up and down the country.
Some banks already had earlier versions of cash machines in their branches. These usually involved pre-paid tokens and vouchers, which allowed customers to access their money. All the machines were online, issued variable amounts and immediately debited the customer's account. Historically, individual savings banks had been largely independent of one another.
However, this all changed with the TSB Act of The resulting Act of Parliament stipulated that the 73 existing savings banks should merge into 20 later 16 regional institutions. These were to be overseen by a central board. Crucially, the Act also allowed TSBs to offer similar financial services to those of the clearing banks, such as personal loans. Until then, mortgages had been largely the preserve of building societies.
Demand for mortgages increased the following year with the introduction of the 'right to buy' for council house tenants. Long before the Internet was widely available, Bank of Scotland customers could actively manage their accounts from the comfort of their own sitting room.
All they needed was a TV screen and telephone link-up. The service attracted many new customers. For the first time, it had shareholders, and could compete with other high street banks on an equal footing.
It used images of ordinary people wearing bowler hats, sending out the message that anyone could own shares. The campaign clearly worked, as the offer was massively over-subscribed. It also allowed TSB Group plc to provide a wider range of banking services. It allowed people to access their account information and conduct transactions, all from the convenience of home.
Speedlink operated 18 hours a day, seven days a week. Within the first few months, more than , customers had signed up. This was the first ever association between a bank and a building society. It was now one of the UK's largest mortgage providers. Its members voted in favour, and each received a windfall payment. However, it was another four years before the new bank became a high street name. By early , only a handful of branches displayed the new Lloyds TSB livery. But overnight, on 28th June, the remaining 2, were rebranded, in a military-style operation.
All branches were rebadged internally and externally - this involved nine miles of fascia signs, 18 miles of neon tube and 66, new merchandising units. Despite a fire at the warehouse where the new signs were stored, the operation was a success. On 2nd June , the Halifax Building Society converted to plc status.
This resulted in the largest single extension of private share ownership in the UK - more than seven million people participated. The conversion was the culmination of a period of significant mergers and expansion. The following year it purchased the life assurance company, Clerical Medical. Birmingham Midshires joined the Halifax in April Formerly a Midlands-based building society, it retained its own distinctive brand and product range.
Both had roots going back to the midth century, and were themselves the result of the cumulative mergers of some 50 building societies. It is known for its specialised lending, such as buy-to-let mortgages. With this acquisition, the Bank inherited one of the strongest brands in the insurance industry. It grew to be one of the largest providers of life assurance and investment products in the UK.
It became the fifth largest financial services company in the UK. Launched as 'the new force', HBOS set out to be the fastest growing financial services business in the UK, by delivering innovation and value for money. Initially it was very successful, becoming the UK's largest savings and mortgage provider.
However, in , problems emerged in its lending portfolio. The new company was named Lloyds Banking Group. The new company instantly became the largest retail bank in the UK. Lloyds Banking Group today serves more than 25 million customers, and brings together a host of well-known brands. Each has its own rich and unique heritage.
The Olympic Games were last held in London in Just over 4, athletes from 59 nations had competed in 19 sports. The Games attracted more than 10, athletes from nations. They took part in almost events. The familiar black horse logo was given a makeover for the relaunch of Lloyds Bank on the high street. And more than branches were brought together across Britain to form the new TSB. We marked the th anniversary of Scottish Widows, the th anniversary of Lloyds Bank and the 30th year of the Lloyds Bank Foundations.
The strength of the Group comes from its rich and diverse heritage, and its iconic brands. The Group remains committed to its core purpose of Helping Britain Prosper. We are proud to have supported people, businesses and communities for more than three centuries. The Halifax's first Secretary, J.
Taylor, died in The following year, Enoch Hill replaced him. Under Hill's guidance, the Society grew from a local to a national institution. Until the s, the activities of the Halifax were concentrated chiefly in Yorkshire.
But Hill was keen for the Society to grow, and embarked on an ambitious programme of expansion. The first branch in southern England was opened at Shaftesbury, Dorset, in An office in London followed five years later. By the mid s, the Halifax network covered the whole of the UK. This marked the start of overseas expansion. In acquiring this business, Lloyds took its first step into continental Europe, and Lloyds Bank France was formed. Entry into France paved the way for further growth. In , Lloyds became the first British bank to open a branch in Switzerland.
This laid the foundations for what would later become Lloyds Bank Europe. Lloyds Bank made the move from Birmingham to the City of London in The new Head Office was located in Lombard Street, at the sign of the black horse…. For some years, the Bank operated from both London and Birmingham. But in , the decision was made to transfer all head office operations to London.
A stunning art deco building was opened in Lombard Street, in This served as Head Office until On 14th April , the world's largest passenger steamship, the 'Titanic', hit an iceberg and sank. Some 1, lives were lost, two of whom were insured with Scottish Widows. The two people concerned were a bandsman — possibly employed on the ship - and a valet to one of the passengers.
Their status meant they had little chance of getting onto a lifeboat. In , the Halifax celebrated its Diamond Jubilee. The Halifax's pre-eminent position was largely due to the dynamism of its Secretary, Enoch Hill. However, serious expansion was just around the corner. This resulted in a period of unprecedented expansion. Over the next 50 years, Lloyds took over more than 50 competitors. For the first time, married women were allowed to keep their own savings.
Prior to this, any money that a woman held upon marriage, automatically became the property of her husband. Unlike the commercial banks, savings banks had always attracted female savers in large numbers. With the passing of the Act, the demand for savings accounts was even greater.
Lloyds Bank inherited the famous black horse symbol in The first recorded use of the black horse sign was in , at Lombard Street in the City of London. In the 17th Century, there were no street numbers, and so businesses used decorative signs to attract customers. The signs also provided a means of identification in a largely illiterate society.
The black horse sign originally hung above the establishment of goldsmith Humphrey Stokes. By it was being used by another Lombard Street goldsmith, John Bland. The Bank's first symbol, the beehive which represented thrift and industry , continued to be used alongside the black horse until the early 20th century. It still appears on some bank buildings. Major fraud rocks the savings bank movement Not surprisingly, the crisis escalated, and the whole savings banks movement came under scrutiny, from both the press and the public.
In the wake of the scandal, the TSB Association was set up, partly to ensure any future crises were properly managed. Starting out in Paris and Le Havre, in Lloyds began its foray into the foreign markets. Its overseas operations later became known as Lloyds Bank Europe. Lloyds also established branches in Argentina, Brazil and South Africa. Lloyd saw these as emerging countries with excellent opportunities due to the wealth of minerals people mined and extracted.
Starting in the s, the mechanisation and technological systems at Lloyds using machines like Comptometers and eventually punch hole machines was eventually finished in the early s.
Lloyds installed the very first computer in By , Lloyds opened its first cashpoint machine ATM. The Trustee Savings Bank started in and operated as a local savings bank for ordinary people. It was only open one day a week and then only for one hour. This bank like many other early savings banks was designed for the working classes. This, in turn, would lead to them being industrious and sober. Started in Scotland by a clergyman, the Trustee and other savings banks quickly spread to England.
More than 2, PO Savings Banks opened within a year of the act. Following a serious fraud that occurred in Cardiff in , all the local savings banks came under the umbrella of an establishment.
It became known as the Trustee Savings Bank Association. This expanded during the two world wars. It then followed mergers and acquisitions. The result of this was the demutualisation of the building society, and this takeover became the first collaboration between a bank and a building society. During the early part of the twenty-first century, Lloyds TSB picked up many business awards for excellence.
Lloyds TSB was no exception. The problems that had occurred at HBOS had led to a major fall in share price. This led to a situation where this bank was about to fail. This move made the bank the largest holder of mortgages in the UK. Following this move and to prevent a failure of the UK banking system, the Treasury recapitalised some of the UK banks.
Lloyds TSB was one of them leading to the government holding a There have also been accusations of tax avoidance and complaints to the Financial Ombudsman by customers. Compared to its nearest rival Barclays, there was more. Lloyds told staff that they would have their pay cut or face demotion if they did not hit certain targets. Consequently, it led to some mis-selling of financial products.
In , Lloyds was fined by the FCA for its failure to investigate and properly handle complaints regarding Personal Protection Insurance.
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