Established in 2002, its head office was located at the CIS Tower, Miller Street, Manchester.

Following the Co-operative Bank's financial crisis in 2013, the group sold a majority of shares in the business, retaining a 20% stake.

In 2008, Co-operative Financial Services was Business in the Community's Company of the Year, having been recognised at their Awards for Excellence gala dinner for making sustainable development a top priority in how it operates and in the products and services offered to its customers.

[7] As of June 2011, Co-operative Financial Services was reported to be close to appointing Credit Suisse to advise it on a potential bid for the 600+ branches, and a large chunk of mortgage business, that Lloyds Banking Group was ordered to sell by the European Commission.

[14] The difficulties stem largely from the commercial loans of the Britannia Building Society, acquired in the 2009 merger.