On this page you can find out more information about Kent Reliance Provident Society Limited’s (the Society) origins, its history and the proposals for its future.

The Society is independent of Kent Reliance, which is a trading name of OneSavings Bank plc (the Bank). These proposals will not affect your Kent Reliance mortgage or savings account in any way. The Bank will continue to provide and administer your accounts as it does today. For more information about the Bank please visit

Brief overview

The Society is a co-operative and community benefit society and was formed when Kent Reliance Building Society’s business transferred to the Bank in 2011.

Both the Society and the Bank have both evolved significantly since then. The Board of Directors of the Society requested members’ approval at its AGM on 26 July 2022 to wind up the Society, with its assets being transferred into a new charity, the ‘Kent Reliance Community Foundation Limited’.

Members agreed to the proposal to wind up the Society, and Philip Heddell and Richard Barker of Ernst & Young LLP were appointed Joint Liquidators of the Society on 26 July 2022 and are working with OSB to implement those proposals.

The Joint Liquidators have published their annual progress report which is available here.

The reason for this change is to ensure the future use of the Society’s assets for charitable purposes through a new charity, the Kent Reliance Community Foundation Limited, which will continue the charitable giving carried out by the Society more efficiently, with lower administrative costs.


When the Kent Reliance Building Society’s business transferred to the Bank in 2011, the members in the Building Society became members of the Society and the Society became a shareholder in the Bank.

At its creation in 2011, the Society’s principal purposes/activities were:

  • to represent the interests of the members on the Bank’s Board of Directors
  • to manage the Kent Reliance branch network
  • to develop business opportunities and introduce member benefits (e.g. an online discount shopping service)
  • to promote and support community and charitable purposes; and
  • to conduct member engagement activities.

The Society has evolved from its original conception. In 2014, the Society passed the management of the Kent Reliance branch network to the Bank and its primary activity has since been to distribute the dividend income it receives from its assets, the shares it holds in OSB GROUP PLC, to charity.

The Bank also ran on the Society’s behalf:

  • a customer panel, which is used from time to time to consult members on their opinion; and
  • a monthly prize draw which is matched by a charitable donation.

The Bank and the Society’s history and activities

Year OneSavings Bank plc (the Bank)
(trading as Kent Reliance)
Kent Reliance Provident Society Limited
  • Takes over of the Kent Reliance Building Society savings and mortgages, continuing to operate under the Kent Reliance brand
  • Is responsible for investment in Kent Reliance products, services and branch network
  • Begins an investment programme in the branch network (rebranding and refurbishment)
  • Becomes a shareholder in the Bank
  • Takes on the management of the Kent Reliance branch network
  • Holds positions on the Bank’s Board
  • Successfully floats on the London Stock Exchange
  • Takes over management of Kent Reliance branch network
  • Relinquishes all positions on the Bank’s Board of Directors
  • Attends management committees of the Bank to voice customer interests
  • Begins a charitable giving programme with the income it receives from the shares it holds in the Bank
  • The Bank combines with Charter Court Financial Services Group Plc and OSB GROUP PLC becomes the parent company
  • The Society becomes a shareholder in the Bank’s Parent Company OSB GROUP PLC
  • Branch refurbishment completed with two branches relocated to larger premises
  • Online products and account opening well established
  • Regular winner of industry awards
  • Record level of key service ratings by customers
  • Comprehensive service measurement and improvement system in place
  • Principal activity is its charitable giving programmes

The Society and the Bank’s Charitable Focus

The Society and the Bank have a strong charitable focus and commitment to environmental, social and governance (ESG) matters.

Please visit here for more information about:

  • the Bank’s community focus through partnerships with local charities and community groups, namely Demelza Children’s Hospice and XL women’s football team and the support it offers to its customers and local communities; and
  • the Society’s charitable giving programme via its relationship with the Kent Community Foundation.

The proposal to wind up the Society, with its assets being transferred into a new charity (the ‘Kent Reliance Community Foundation Limited’), will:

  • ensure the Society’s assets, including its shares in the Bank’s Parent Company OSB GROUP PLC, are used for good causes and the benefit of future generations; and
  • maintain the connection with the Kent Reliance brand; and the Society and Bank’s origins as successors to the heritage of Kent Reliance Building Society.

Future plans

On conclusion of the liquidation the Society will cease to exist. A new charity will be created (the ‘Kent Reliance Community Foundation Limited’), the Society will be wound up and its assets will be transferred to that charity.

Transferring the Society’s assets to a new charity is being proposed for the following reasons:

  • It will ensure the future use of those assets for charitable purposes.
  • It will maintain the shared heritage of the Bank and the Society as successors of Kent Reliance Building Society.
  • It will be more efficient as the costs of running the new charitable foundation are expected to be less than those of the Society.
  • The charitable foundation will be subject to robust governance and controls and will be registered with the Charity Commission.
  • The directors of the charitable foundation will consider how best to invest and manage its assets for its charitable purposes.

The Bank will, for the foreseeable future, continue the other activities of the Society, including the monthly prize draw and customer engagement. It is likely that these will also evolve over time as the Bank looks to expand those to all of its customers and not just those who are members of the Society.

Please visit our frequently asked questions for more information.