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Is Carpetbagging Dead
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one day... one day !0
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worldtraveller said:couriervanman said:Britannia......was part of co-op bank
Chelsea.....now part of Yorkshire B/S
Norwich & Pet....now part of Yorkshire B/S
Stroud & Swindon.....now part of Coventry B/S
There were no windfall payments on these mergersSure, but a merger isn't a demutualisation.I'm still a 'member' of Nationwide (via an account held from the 1960's in Anglia Buliding Society) and of Britannia (from an account opened back in the 1980's).I can't see any further demutualisation at any time soon because demutualisation was an undoubted failure, as the shareholder owned mortgage banks that resulted, I believe, all failed.
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IanManc said:worldtraveller said:couriervanman said:Britannia......was part of co-op bank
Chelsea.....now part of Yorkshire B/S
Norwich & Pet....now part of Yorkshire B/S
Stroud & Swindon.....now part of Coventry B/S
There were no windfall payments on these mergersSure, but a merger isn't a demutualisation.I'm still a 'member' of Nationwide (via an account held from the 1960's in Anglia Buliding Society) and of Britannia (from an account opened back in the 1980's).I can't see any further demutualisation at any time soon because demutualisation was an undoubted failure, as the shareholder owned mortgage banks that resulted, I believe, all failed.You're correct! On the merger with Co-operative Financial Services, members of the former Britannia Building Society became members of the Co-operative Group.
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Nationwide were a good advert for the mutual sector but nowadays many banks treat customers better!0
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gandb said:
I've £100 sat in several Mutual Building Societies. Have the rules changed? The derisory % is irrelevant. Is Carpet-bagging Dead?
My list includes: Any suggestions please?Britannia Chelsea Coventry Nationwide Newbury Newcastle Norwich & Pet Stroud & Swindon West Bromwich
Carpet bagging???... didn't that go out with flares..._0 -
How many of the building societies that demutualised survived as independent banks?1
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Nationwide... one day! ONE DAY ! FK the directors0
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Thrugelmir said:How many of the building societies that demutualised survived as independent banks?0
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ZeroSum said:Thrugelmir said:How many of the building societies that demutualised survived as independent banks?
So the Halifax brand still exists, but not because it was still a resilient and well capitalised lender a decade after demutualisation. It was quite the opposite!2 -
roddydogs said:Nationwide put it to a vote, but the majority voted to stay a mutual so now youve got all the disadvantages of a bank, without the payout!
From the 2019 remunerartion report, the top directors earned between £1.3m and £2.4m each:
Report of the directors on remuneration 2019 | Nationwide
It is yet another so-called mutual run for the benefit of its directors, rather than the account holders0
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