Search results
Kent Reliance Provident Society (KRPS) is a co-operative and community benefit society formed as part of the transfer in 2011 of Kent Reliance Building Society's business to OneSavings Bank plc (OSB), which trades primarily as Kent Reliance.
- About us
Kent Reliance Provident Society (KRPS) is a mutual...
- Charity
Kent Community Foundation. KRPS has appointed the Kent...
- Future proposals
The Society is a co-operative and community benefit society...
- Contact us
Kent Reliance Provident Society Limited (in Members’...
- AGM
2023 Annual Progress Report of the Joint Liquidators of the...
- FAQs
Eligible deposits held by Kent Reliance are protected up to...
- About us
Internet Banking Application.
Register now Login Where can you find us? We have a network of branches located throughout the South East, where our branch staff would be happy to welcome you.
We're always pleased to hear from you and assist with any Savings or Mortgages inquiries you may have. Contact us by phone, post, email or visit one of our branches.
- Why Has The Board of The Society Proposed These Changes?
- What Are The Benefits of Transferring The Assets to A New Charity?
- What Will Happen to The Prize Draw?
- How Will This Affect My Shares I Hold in OSB Group Plc?
- Who Will Run The New Charity?
- Who Will Be The Directors of The New Charity?
- What Will The Charitable Purposes of The New Charity be?
- Who Will Decide Where The Donations Go?
- How Will The Charitable Foundation Be Regulated?
- Were Any Alternative Options considered?
The Society has evolved from its original conception. Its primary activity has recently been to distribute the dividend income it receives from its assets, the shares it holds in OSB GROUP PLC, to charity. Transferring the Society’s assets to a new charity is being proposed for the following reasons: 1. It will ensure the future use of those assets...
The charity will be legally obliged to use its assets for charitable purposes. Currently, the Society’s purposes are more broadly defined; those assets could be used for other purposes and the use...There are tax benefits that registered charities have which don’t apply to the Society. As a result it is anticipated that the charity could sell the shares the Society holds in OSB GROUP PLCwithou...The new charitable foundation will be simpler with lower administrative costs. For example, it will not be required to hold an annual general meeting of members.The Bank will, for the foreseeable future, continue the monthly prize draw. It is likely that this will evolve over time as the Bank looks to expand it to all of its customers and not just those who are members of the Society.
These changes will not affect the shares you hold in OSB GROUP PLCor dividends payable on them. For more information about OSB GROUP PLC please visit www.osb.co.uk/.
The new charity will be established as a new charitable company limited by guarantee and will be run by its directors. It will be registered at the Charity Commission, Companies House and with HMRC.
The directors of the new charity will initially be the directors of the Society. Once the charity is established then it is anticipated that the directors of the charity will change and they will want to invite other suitably qualified persons including employees of the Bank, Kent Reliance customers and former members of the Society to apply to be ...
The objects of the new charity are for the public benefit to further any purpose which is exclusively charitable under the law of England and Wales.
It will be for the trustees of the new charity to decide how charitable funds are spent and the trustees will establish a policy for charitable giving. As previously noted in these frequently answered questions the trustees’ approach to charitable donations is likely to evolve over time. For example: It is now anticipated that grants will be made d...
The new charity will be governed by its memorandum and articles of association, the Companies Act 2006, Charities Act 2011 and will be regulated by the Charities Commission.
Consideration was given to winding up the Society with its assets being distributed to its members. However, the distribution to individual members would be very small compared to the benefit to charity. Over 85% of members have consistently indicated through their votes at the AGM that they wish the income of the Society to be used for charitable ...
Once you have submitted your online application, before allowing you to fund the account, we will check your identity and address. These checks are carried out electronically to make it as easy as possible for you.
People also ask
What is Kent Reliance Provident Society (KRPS)?
Does Kent Reliance offer a deposit guarantee?
How do I Fund my New Kent Reliance account?
What is a Kent Reliance Isa?
Kent Reliance Provident Society (KRPS) is a mutual organisation formed as part of the transfer of Kent Reliance Building Society's business to OneSavings Bank plc (OSB) in 2011.
