Type Mutual Key people Malcom McCaig Headquarters Chatham | Industry Financial services Website www.krps.com Founded 2011 | |
Subsidiaries OneSavings Bank Plc (59.9% share) | ||
Kent Reliance Provident Society (KRPS) is an industrial and provident society in the United Kingdom, it is also a member of Co-operatives UK. KRPS currently holds the majority of shares in OneSavings Bank Plc following the transfer of the Kent Reliance Building Society business to OneSavings Plc on 1 February 2011 and the subsequent renaming of OneSavings to OneSavings Bank Plc. The remaining shares in OneSavings Bank Plc are owned by the private equity firm JC Flowers. The transfer was narrowly approved by 75.8% of Kent Reliance Building Society's investing members, compared to the 75% required to approve it. KRPS claims on its website that "...it is in the members' best interests to retain a structure that can allow for continued mutuality (through KRPS), rather than bring about an outright demutualisation [of KRBS].", however, this could change in the future if KRPS reduces its stake in OneSavings Bank.
All members of the former Kent Reliance Building Society became members of KRPS on 1 February 2011.
KRPS Rewards
KRPS Rewards is a cashback and discount club which is free to join for KRPS members.