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Complaints report

Of course we try to keep all of our members happy, all of the time - but sometimes, we get things wrong.

So if you're not totally happy with any part of our service please let us know so we can put it right as quickly as possible.

Under the Financial Conduct Authority's Dispute Resolution: Complaints Rule Book, and in common with other financial institutions, we are required to publish details of the numbers of complaints we receive every six months.

Complaints publication report

Firm name: Coventry Building Society
Period covered in this report: 1 January 2016 - 30 June 2016
Brands/trading names covered: The Coventry

  Number of complaints opened Number of complaints closed Complaints closed within 8 weeks (%) Closed complaints upheld by firm (%)
Banking 588 551 100% 60%
Home finance 335 327 100% 73%
General insurance and pure protection 1228 1260 100% 13%
Decumulation, life and pensions 12 17 94% 41%
Investments 0 0 n/a n/a
Credit-related 6 6 n/a 50%

The total number of reportable complaints has remained relatively stable compared to the same period in 2015, despite significant growth in savings and mortgage business over the last 12 months.

We continue to see a large amount of speculative complaints relating to the alleged mis-selling of payment protection insurance and mortgage payment protection insurance (included in the 'General insurance and pure protection' category in the table). Many continue to be referred to us by Claims Management Companies. A significant proportion of these complaints - around 60% for the period in question - were from people who had never even bought such a policy from the Society.

Coventry has over 1.8 million members and at 30 June 2016 we looked after more than 2 million savings accounts and almost 185,000 mortgage accounts.

In approximate terms, over the six month period we received one reportable banking complaint for every 3,400 savings accounts and one reportable home finance complaint for every 550 mortgage accounts.

All complaints are a matter of concern to us, even when they represent a small percentage of our total membership. That's why we work hard to resolve any member's complaint at the point of contact. It's why we have a complaints procedure that puts the member first.

We hope you never have to complain. But if we get things wrong, we aim to put them right.

Coventry Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (firm reference number 150892 www.fca.org.uk Opens new website in another window). This site is intended for UK residents only. Coventry Building Society. Registered Office: Economic House, PO Box 9, High Street, Coventry CV1 5QN.

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