Sainsbury’s Bank plc is the latest firm to become an associate of the CML.

Sainsbury’s was the first major British supermarket to open a bank, which began trading in 1997. It continues to provide a range of financial products, including savings and loans, credit cards, insurance and travel money.

With supermarkets located across the UK, it operates a large ATM estate, but also sells products and services online and by telephone.

The firm said: “Our strategy is to offer Sainsbury’s shoppers consistently great deals and rewards, enabling them to benefit from quality financial products, which offer good value while also saving them money.”

The CML now has 120 members, eight members that are third party administrators, and 82 associates.