Importance to town and borough of the famous Halifax brand amid bank name change rumours
There has been no decision yet, but there is plenty of speculation about the future of the famous “Halifax” banking brand.
But reports of the possibility, initially reported by The Sun newspaper and since more widely, which have filtered through of potential loss of the brand have had an impact locally on the town which gave birth to the building society named after it.
Lloyds Banking Group is reviewing its retail brands and is reported to be drawing up plans to phase out Halifax as a standalone name after more than 170 years, consolidating customers under the Lloyds Bank identity.
Lloyds has not formally confirmed that Halifax will disappear, but it has not denied that options are being considered.
Officially, Lloyds says it regularly reviews its brands, stresses that there are “no changes for customers today”, and points out that customers can already use any Lloyds, Halifax or Bank of Scotland branch and view their products across the group’s apps.
Calderdale Council are among organisations and people which recognise its importance to the town and the wider borough.
The council’s new Leader, Coun Dan Sutherland, said the authority knew what the name and brand meant to people here.
“We know how much people care about our local heritage here in Calderdale, and we’re really proud that Halifax as a place is known across the globe.
“The banking brand’s recognised household name contributes to that and is a part of local tradition,” said Coun Sutherland (Reform UK, Illingworth and Mixenden).
Halifax’s Labour MP Kate Dearden and Jeremy Hall, chairman and managing director at Halifax’s Dean Clough business park, are among those who have expressed concern the brand might be lost.
If Lloyds did decide to make any changes, there would be no change to customers’ account numbers, nor would there be any impact to Financial Services Compensation Scheme protection, said the group.
The first Halifax bank was founded in Halifax as the Halifax Permanent Benefit Building Society in 1852.
In 1997, it was floated on the stock exchange and merged with the Bank of Scotland in 2001.
Then in 2009, HBOS PLC was taken over by Lloyds TSB and the Halifax became part of Lloyds Banking Group.