Nationwide rebels are not for turning
Article Abstract:
There is pressure on Nationwide Building Society to demutualise and pay cash or stocks to members. Michael Hardern is seeking to be elected to the board with four other campaigners. Nationwide's board aims to keep the building society mutual. The Building Societies Association sees the existing board as likely to win. If the board loses the association aims to aks the government to prevent further demutualisations for a given period due to the impact of this trend on the savings and mortgages market and the economy as a whole.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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More fun than privatisation
Article Abstract:
UK building societies are carrying out mergers which bring benefits to saversand borrowers.Examples include the Leeds and the Halifax, and National Provincial, whichAbbey National is seeking to acquire. Societies which convert into banks are likely to see a risein their share price, while predators offer premium prices when they seek distribution networksthrough buying a building society. Savers can invest 100 pounds sterling in a number of buildingsocieties in order to benefit from a possible merger or takeover.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Societies offer sweeteners to savers
Article Abstract:
UK savings and loan associations are seeking to retain savers, though mergers may continue. Savers have been given cash sums when mergers occur and mutual status is lost. Three associations, Yorkshire, Britannia and Bradford and Bingley, Are offering loyalty schemes, and others are considering taking this path. Associations may also pool resources to cut costs while retaining their brand names. Long-term savers with large amounts are most likely to be rewarded.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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