Newcastle Building Society

Newcastle Building Society

Type	Building Society (Mutual)
Industry	Banking and Financial Services
Founded	Newcastle Permanent Building Society (1863) Newcastle Building Society (1980)
Headquarters	Newcastle upon Tyne, England, UK
Key people	David Holborn, (Chairman) Jim Willens, (Chief Executive)
Services	Savings, Mortgages, Investments, Credit Cards, Insurance
Operating income	£36.6m (2010)
Profit	£(3.7)m (2010)
Total assets	£4.4bn (2010)
Website	www.newcastle.co.uk

The Newcastle Building Society is a UK building society that has its head office in Newcastle upon Tyne, England. It is a member of the Building Societies Association.

History

It was formed in 1980 as a result of a merger between the Grainger (founded 1861) and Newcastle Permanent Building Societies (founded 1863).^[1]

In 2006, it merged with another Newcastle-based society, the Universal Building Society.^[2]

The society opened another office at Cobalt Business Park in North Tyneside in 2008.^[3]

In May 2010, the society announced its repositioning programme in which it announced that it would make 126 jobs redundant and create 80 jobs in its Solutions division.

In February 2011, it announed that it plans to lend more to the North East's housing market Newcastle Building Society plan to lend more.[1] It released its 2010 year end results in March 2011.[2]

References

1. ^ A full agenda for our mutual friend North East Business, 10 September 2007, Retrieved 11 April 2009
2. ^ Building Society Mergers and Conversions since 1980 Building Societies Association website (Retrieved 5 April 2007)
3. ^ Evening Chronicle, Feb 26, 2008 Newcastle Building Society grows despite crisis, Gareth Deighan. Via Chronicle Live, retrieved on 24 March 2008.

External links

• Newcastle Building Society
• Building Societies Association
• KPMG Building Societies Database 2008