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UK building society to take over smaller rivals
Johannesburg News.Net
Sunday 7th September, 2008
In the UK, the Nationwide Building Society has had talks with two of its smaller rivals, the Derbyshire and Cheshire Building Societies.
The Nationwide is the UK's biggest mutual lender with 14 million members.
With the approval of financial regulators Nationwide has said it will step in to help the smaller lenders, who are under growing pressure due to the housing slump.
Nationwide has confirmed it has had discussions with the Derbyshire and Cheshire organisations about separate mergers.
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Comments on this story
anne smith
09-08-08, 09:17 AM |
UK building society to take over smaller rivals
As A member of The Derbyshire B/S, it would have been a courtesy to have been told by them that this merger was to take place. Instead, as my whole life savings are deposited there , I had to hear about it on TV News, and it is very worrying.
Could they at least send out a memo to all their existing members confirming that their savings are safe? This would be appreciated, if indeed it is true!
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