Coventry BS strength.

ANGLICANPAT

http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=455447&in_page_id=7

This 09 article is the most recent info I have read on the strength of Coventry. I am considering for various reasons, adding to my inst access acc (paying 3.30%) which will leave it well over the compensation limit, for about 6mths till my bonus ends at which point Ill move it.
Has anyone seen anything more recent on Coventry's strength please . Thanks.

joerugby

Here's the latest financial report

http://www.coventrybuildingsociety.co.uk/aboutus/financial.aspx

http://www.coventrybuildingsociety.co.uk/pdfs/FResults_HY_10.pdf

Ian_W

A bit more recent:
http://www.thisislondon.co.uk/standard-business/article-23868357-coventry-building-society-grabs-mortgage-market-share-to-give-record-results.do
I thought I remembered Jeff Prestridge being complimentary in the MoS recently, it's here (bottom of page):
http://www.dailymail.co.uk/money/article-1304968/JEFF-PRESTRIDGE-Wake-Santander-siesta-service.html

ANGLICANPAT

Thank you both. Looks quite comforting . I reckon with the account being an online inst one, it might be a fairly safe bet to leave over the odds for a while - should be able to whip it out if theres a smell of a problem. They couldnt go under all that fast could they without smoke?

juicyjude

And remember there is a EU directive coming into force on the 31st Dec to increase the figure to 100,000 euros about £85K. Hope this helps

ANGLICANPAT

Yes, Id forgotten that was so relatively close, so will help a lot.
Thanks .

luvpump

I am having a think about this too, as i have been thinking about a five year bond with the newcastle..
If this was a non british bank i would stay well clear, but does anyone seriously this goverment would allow a British bank to fail ? despite what people think & lot of people have well over 50k in there bank account, can you imagine the situation if they allowed a small bank to fail , on the rest on the economy ? It would send it into a tailspin ...

TCA

juicyjude wrote: »

And remember there is a EU directive coming into force on the 31st Dec to increase the figure to 100,000 euros about £85K. Hope this helps

Is this a definite? I haven't heard any more about it since it was first announced. Would it mean that this is automatically adopted by the UK at the end of the year?

juicyjude

It is an EU directive so it has to happen. It just needs to be rubber stamped by the UK but my understanding is that if things go belly up because this is a directive by the EU they have to honour it.

ANGLICANPAT

luvpump wrote: »

i have been thinking about a five year bond with the newcastle..

You must be feeling fairly confident then that we arent going to have rising interest rates then in the forseable future? 5 years seems a long time to tie up in relatively low rates.

Running_On_Empty

Coventry BS have recently agreed to take over Stroud and Swindon BS. FSA would not allow this merger unless Coventry BS were strong enough to absorb the S & S. Merger may even have been at the request of the FSA. Buggins turn etc. S & S members will benefit by better rates offered at the Coventry and Coventry members benefit by economies of scale and enlarged branch network extending reach and exposure into the south west.