Universal Building Society (Newcastle)

experience08

Anyone have/had an account with this BS? I've just learned they were taken over by Newcastle BS in 2006. Did anyone get any FREE money :money: I don't remember any cheques coming through for this, and i've had a lot more than £100 (membership) in there.

opinions4u

This article refers to "at least £200" in windfall payment.

As does this one.

This one mentions £400!

Chadsman

A merger bonus was paid to eligible members of a minimum of £400 IIRC. I thnk the merger took place in 2005 and the bonus was paid early 2006.
It was originally going to be £200 but they said they had an unsolicited offer from another unnamed BS so Newcastle upped their offer. It maked me think the Universal board didnt try very hard for Universal members.

premierfella

Just to complete the thread, I have dug out my paperwork relating to the bonus payable to savers.

They took the lower of the savings balances at 23MAY06 and 30DEC06.
Then multiplied the balance by 1.75%.
If that figure was less than £400, the bonus paid (pre-tax) was £400.
If the figure was above £400, that was the pre-tax payment (capped at £1000 pre-tax).