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Reliance Bank
Reliance Bank Limited, formerly known as The Salvation Army Bank, was founded in 1890 by William Booth. When Booth needed to attract investments to finance mortgages on property vital to the work of the movement, his response was to set up a bank. History Founded by William Booth in 1890 as The Salvation Army Deposit Bank, the bank was registered in 1891 as The Salvation Army Bank. Out of the bank's expansion, grew the need for limited liability status and in 1901, The Salvation Army Bank became Reliance Bank Limited. Today, the Salvation Army International Trustee Company still retain sole ownership of the bank and each year receive a share of the bank's allowable profits (a total of £12  million over the last 10 years). In addition to The Salvation Army it is also used by private customers, other churches, charities, and businesses. The Reliance Bank is not a clearing bank and uses the National Westminster Bank National Westminster Bank, trading as NatWest, ...
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Private Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ...
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London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Western Europe, with a population of 14.9 million. London stands on the River Thames in southeast England, at the head of a tidal estuary down to the North Sea, and has been a major settlement for nearly 2,000 years. Its ancient core and financial centre, the City of London, was founded by the Roman Empire, Romans as Londinium and has retained its medieval boundaries. The City of Westminster, to the west of the City of London, has been the centuries-long host of Government of the United Kingdom, the national government and Parliament of the United Kingdom, parliament. London grew rapidly 19th-century London, in the 19th century, becoming the world's List of largest cities throughout history, largest city at the time. Since the 19th cen ...
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Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ...
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Salvation Army
The Salvation Army (TSA) is a Protestantism, Protestant Christian church and an international charitable organisation headquartered in London, England. It is aligned with the Wesleyan-Holiness movement. The organisation reports a worldwide membership of over 1.7million, consisting of soldiers, officers, and adherents who are collectively known as salvationists. Its founders sought to bring Salvation in Christianity, salvation to the poor, destitute, and hungry by meeting both their "physical and spiritual needs". It is present in 133 countries, running charity shops, operating homeless shelter, shelters for the homelessness, homeless, and disaster relief and humanitarian aid to developing countries. The Wesleyan theology, theology of the Salvation Army derives from Methodism, although it differs in institution and practice; an example is that the Salvation Army does not observe sacraments. As with other denominations in the Holiness Methodist tradition, the Salvation Army lay ...
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William Booth
William Booth (10 April 1829 – 20 August 1912) was an English Methodist preacher who, along with his wife, Catherine, founded the Salvation Army and became its first General (1878–1912). This Christian movement, founded in 1865, has a quasi-military structure and government and has spread from London to many parts of the world. It is one of the largest distributors of humanitarian aid. Early life William Booth was born in Sneinton, Nottingham, the second son of five children born to Samuel Booth and his second wife, Mary Moss. His birthplace is now a museum. Booth's father was a nailmaker and builder from Belper in Derbyshire but, during William's childhood, the family descended into poverty. In 1842, Samuel Booth, who could no longer afford his son's school fees, apprenticed the 13-year-old William to a pawnbroker. Samuel Booth died on 23 September 1842. Two years into his apprenticeship Booth had a religious conversion. He then read extensively and trained himself in ...
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Mortgages
A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the fo ...
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Charitable Organization
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, Religion, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The Charity regulators, regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership. Financial figures (e.g. tax refunds, revenue from fundraising, revenue from the sale of goods and services or revenue from investment, and funds held in reserve) are indicators to assess the financial sustainability of a charity, especiall ...
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Clearing Bank (United Kingdom)
The Cheque and Credit Clearing Company Limited (C&CCC) is a United Kingdom, UK membership-based industry body whose 11 members are the UK clearing banks. The company has managed the cheque clearing system in England and Wales since 1985, in all of Great Britain since 1996 when it took over responsibility for managing the Scottish cheque clearing as well, and in the whole of the United Kingdom since the introduction of the Image Clearing System in 2019. It has been a subsidiary of Pay.UK since 2018. As well as clearing cheques, the system processes the following forms of payment: banker's drafts, building society cheques, postal orders, Warrant of payment, warrants, government payable orders and traveller's cheques. The company also manages the systems for the clearing of paper bank Giro (banking), giro credits (the credit clearing). The clearing system in Northern Ireland was formerly operated by the Belfast Bankers' Clearing Company for the four clearing banks there. History ...
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National Westminster Bank
National Westminster Bank, trading as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. NatWest International is a trading name of RBS International, which also sits outside the ringfence. Between 2008 and 2025, the UK government held a stake in NatWest Group following its £45 billion ($61.87 billion) bailout of the lender which led to it owning 84 per cent at one point. The bank returned to full private ownership on 30 May 2025 after 17 years. NatWest is considered one of the Big Four clearing banks in the UK, and it has a large networ ...
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Banks Of The United Kingdom
This is a list of banks operating in the United Kingdom. Central bank The Bank of England is the central bank of the United Kingdom. The Big Four British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The retail and commercial banking market in the UK is dominated by HSBC, Barclays, Lloyds Banking Group and NatWest Group - all four operate more than one banking brand in the UK. In addition, some people argue Spanish-owned Santander UK should be a part of the "Big 4" making it the big 5; however, its Spanish origins hinder its recognition as a British bank despite its ability to act autonomously and independently from the Spanish bank itself as it is "managed by its own local team and is responsible solely for its performance away from its Spanish owners". As well as this, the Nationwide Building Society (commonly referred to as "Nationwide"), and Standard C ...
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The Salvation Army
The Salvation Army (TSA) is a Protestantism, Protestant Christian church and an international charitable organisation headquartered in London, England. It is aligned with the Wesleyan-Holiness movement. The organisation reports a worldwide membership of over 1.7million, consisting of soldiers, officers, and adherents who are collectively known as salvationists. Its founders sought to bring Salvation in Christianity, salvation to the poor, destitute, and hungry by meeting both their "physical and spiritual needs". It is present in 133 countries, running charity shops, operating homeless shelter, shelters for the homelessness, homeless, and disaster relief and humanitarian aid to developing countries. The Wesleyan theology, theology of the Salvation Army derives from Methodism, although it differs in institution and practice; an example is that the Salvation Army does not observe sacraments. As with other denominations in the Holiness Methodist tradition, the Salvation Army lay ...
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