Halifax Building Company: Get a Little Extra Help
A company was founded in the year 1853 by a mutual organization for the growing industry of Finance and Insurance. The United Kingdom-based company was first created to be a building society or financial institution that offers banking and other related financial transactions for the masses. Like other building and finance society groups, its main purpose is to actively and competently perform a mutual relationship with the local workers and money investors with a loan-and-interest access for building their own fixer-uppers, hence, the slogan “Get a Little Extra Help”.
Years after the company has prospered into United Kingdom’s largest Building and Finance society, it began expanding into more projects and firms. It was also opening new branches in the country for more business proposals, while maintaining its top record in its specialization in the fields of Personal Finance, Residential Mortgages and Money Insurance.
As the time passed, the company developed new transactions and even merged into other banking companies for further development of its assets and liabilities. It is the reason why it became formally part and now a wholly owned subsidiary byLloyds Banking Group, a financial British Institution that is considered as the fourth oldest bank in the United Kingdom. Lloyd’s Banking Group activities are well organized, specifically in Retail Banking, Commercial, Life, Pension and Insurance. They also have extensive overseas operations in countries such as US, Europe, the Middle East and Asia, thus reestablishing the company that offered new financial proposals and products while reinventing itself as a banking chain.
Halifax in Its New Era
As the company had merged with other great companies, the holders began to be an active supporter for charity works and organizations. They created and currently sponsor the Royal Association for Disability Rights (RADAR), which develops talented or skilled people,whomayhave disabilities but have potential as well, in order to inculcate in other organizations that anybody can progress when given the chance to.
Even with the amount of charity works, achievements, and awards, the Halifax Banking Chain, like some big finance companies,is also littered with controversies. In 2010, the Lloyd BankingGroup settledwith the US Government with 350 million US Dollars, for concealing the right amount of cash and money laundering. A certain number of banks including Halifax were involved in this hullabaloo, staining the name of the well-established company and giving the Wall Street Journal a scandal to gossip about.
Another casewas brought against the Lloyd companies for transatlantic tax avoidance schemes that were performed to avoid paying their banking dues. There are also a number of complaints given by other companies in the past years via the Financial Ombudsman Service. Thecompany also catered to a sharia-principled account which resulted into some controversy.
Despite all the controversies that has come Halifax’s way, the company still stands tall. What once was Halifax Building Society is now a globally well-established bank. It is still honest to its customers, especially now when customers are unaware about unclaimed assets due to incomplete or illegible records. Apparently even if you don’t need the help, Halifax will still be there to always give you a little extra.