Treasury and Dunfermline Building Society December 2013 – The Treasury paid £1.5bn to the Nationwide Building Society for the takeover of the Dunfermline Building Society following its collapse. The Treasury and the Financial Services Compensation Scheme are now working together to determine how much of the money still owed to the Treasury can be recovered. Telegraph…
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Publique on Nationwide Building Society December 2012 – “The Publique” take on practices of Nationwide directors as reported by the Guardian earlier in the year. Nottingham Building Society to Take Over Shepshed Building Society December 2012 – The directors of this small society have decided that it is no longer economically viable to continue independently. Click here for BBC…
Building Societies Punish Savers November 2011 – An article by Jo Thornhill in the Financial Mail Womens’ Forum states that savings interest rates plunge as bonuses catch out customers. “Banks and building societies are punishing savers with a devastating double blow of paltry rates combined with confusing terms”. “As much as £200 billion in savings is…
Norwich & Peterborough Building Society December 2010 – N & P BS, having already closed several branch offices, still appears to be in trouble. N&P states “it has received a number of approaches from parties in connection with a possible merger and the possibility for the injection of new capital”. Yorkshire BS is believed to be…
Ex-Chelsea Building Society Chief Exec Takes Blame for Decline of Chelsea December 2009 – Richard Hornbrook, former Chief Executive of Chelsea BS takes the blame for the society’s demise. Thiismoney Report OFT & Nationwide Building Society December 2009 – Following the failure of its case against the Nationwide BS and seven banks, concerning unfair charges on unauthorised overdrafts, the Office…
Beverley Building Society Closure December 2008 – This society is closing one of its two offices. The reason given for this is the unexpected costs incurred through their contribution to the compensation fund for Bradford & Bingley bank. See Hull & East Riding Report West Bromwich Building Society Redundancies December 2008 – 150 staff redundancies have been announced…
Bumper Bonuses at Building Societies December 2007 – Christmas will have come early for building society directors this year. Following the collapse of Northern Rock people have been making record deposits in building societies. Directors will be taking bonuses home by the truck load without having to do anything special to earn them. Watch out for…
Proud to be Indifferent? December 2006 – The Nationwide BS has attracted widespread criticism over a series of TV ads it has been running to attract new business. These are supposed to demonstrate that it does not differentiate between existing and new members on cheap mortgage deals because it is a “mutual” society. However those members…
Small Mutuals Fail the Value Test November 2005 – The Mail on Sunday reports that small building societies are providing poorer value products to their members than big banks. Click here for full report. Nationwide Building Society November 2005 – Nationwide BS profits increased by 14% for the half year despite a drop in its mortgage business where its…
Myners Review of Mutuals December 2004 – Paul Myners, chairman of Marks & Spencers, former chairman of Gartmore, chairman of the Tate galleries and non-exec director of many other companies, has now published his report on corporate governance of life mutuals with a few words on building societies. Our Comment – As was expected the corporate governance…