Calling existing Skipton members

ReportInvestor

You could be in line for windfall of £200 - although there's many a slip twixt cup and lip.

Click here for more details

derrick

ReportInvestor wrote:

You could be in line for windfall of £200 - although there's many a slip twixt cup and lip.

Click here for more details

According to this quote:- [font=verdana, arial, helvetica] Skipton is paying long-term members bonuses of up to £500, or £1,000 for those who are both savers and borrowers. A total of 290,500 people who were Skipton members on 30 September 1996 will receive an average of £170 each, 63% of Skipton's total membership. Goodfellow's backdating will have annoyed many savers but will edge out the many carpetbaggers who sniffed easy pickings...
from the first post of your link, from This is Money- July 2000, it suggests that savers who where Skipton members on 30th September 1996 will receive an average of £170 each. I have been a member since January 1996 and received nothing! should I have and if so where do you suggest I contact?

Thanks
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ReportInvestor

It might have been becuase you had less than £125 in your account on the second date?

I would also guess that any windfall was paid into your account, minus tax - so check your past account statements or passbook first. It was 4% of your balance - so you might not have noticed it if you didn't have a significant sum with them?

If not, and you maintained continous membership 1996-2000, you should contact Skipton BS at your local branch first, and then

Head Office
The Bailey
Skipton
North Yorkshire
BD23 1DN

Just to avoid any confusion - this post and derrick's above both refer to a past Skipton windfall in 2000, not to current events in 2006

derrick

Thanks for the reply.



£500 deposited 10/01/96 that stayed there until 04/08/03 when I transferred it and some more cash to make a total of £1000, to a Skipton 3 year fixed rate bond.



The only credit/debits during this time where “INT CAPISED” and “TAX DEDUCTION” , none of these totalled more than £13 except one on 01/01/01 that was £30.32 “INT CAPISED” all other interest dates where the same,01/01.



Do you know what the windfall should have been on £500. as there are 2 figures on your link, £500 and an average of £170. for savers only account holders?



Thanks

ReportInvestor

I think you should have got £20 gross, £16 nett (if a basic rate taxpayer) = 4% of £500.

So that £30 extra interest figure looks like it included your 4% windfall.

With any luck you will be in line for useful sum later in 2006/7 relating to the RightMove flotation.

derrick

ReportInvestor wrote:

I think you should have got £20 gross, £16 nett (if a basic rate taxpayer) = 4% of £500.

At least you look to be in line for any payout going in 2006 .

That seems to be the £30.32 payment in 2001,as it is about £20 above the others.

Where did you get the 4% from?

Thanks.

ReportInvestor

On this post

It contains all the details I know about from 2000.

derrick

ReportInvestor wrote:

On this post

It contains all the details I know about from 2000.

Thanks, I obviously did not read all the thread when I used your first link earlier.

EdInvestor

I see the Mail on Sunday has an article about the Rightmove windfall

here

cheggers

I've only just bagged Skipton this year with a cash Isa since they lowered the minimum opening balance to £100

I am hoping Skipton does convert in the future, well after I have served out my 5 years qualifying period as my rights are signed away at present.

Now got all the top ten Building Societies bagged surely its time for another windfall. I'd really like another holiday paid for with a windfall payment.

ReportInvestor

I don't think any demutualisation windfalls from the top ten societies are likely in the near future, cheggers. But never say never, eh .

Having said that.

Skipton is an unusual beast. It is a mutual that uses members' money to finance a whole hoard of satellite companies. The vast majority of the employees of the Skipton Group do not work for the parent mutual but for subsidiaries that produce director millionaires by the bucketload (while the "poor" parent mutual directors have to survive on meagre "scraps from the table" of £350K or so :rotfl: ). And if you don't "feel their pain" believe me, they do.

So it is very different from all the rest, and may be more likely to consider a future "change of course" than, say, Yorkshire, Coventry, Britannia or Nationwide BSs.

I would describe it as a "mutual holding company" rather than a mutual building society.

Whether it can continue to produce such £80 million mutual dividend "rabbits out of a hat" after the very impressive Chief Executive John Goodfellow retires is a key question.

IMHO he is has been the key to that organisation's recent success in spotting a combination of local financial and national/international internet companies that can be capitalised and developed to the benefit of Skipton members. There are not many (or is that any ?) mutual directors that can do either and no-one can do both.

Skipton BS in its current form = Chief Executive John Goodfellow.