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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 2015 - 30 June 2015
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 535 534 99% 53%
Home finance 394 407 98% 69%
General insurance and pure protection 1241 1173 99% 12%
Decumulation, life and pensions 20 20 100% 25%
Investments 0 0 n/a n/a

The number of reportable complaints has fallen by over 8% when compared with the same period in 2014. This is despite the Society having experienced higher volumes of mortgage and savings business over this more recent period.

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. Many continue to be referred to us by Claims Management Companies. A significant proportion of these complaints - over 60% in this six-month period - were from people who had never even bought such a policy from the Society.

Coventry has almost 1.75 million members and at 30 June 2015 we looked after nearly 2 million savings accounts and over 183,000 mortgage accounts. Over this six-month period we processed nearly 14 million transactions for our members.

In general, over the six month period we received one reportable banking complaint for every 3,721 savings accounts and one reportable home finance complaint for every 465 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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