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  • FIRST POST
    • MSE Guy
    • By MSE Guy 23rd Mar 10, 11:51 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Coventry and Stroud & Swindon building societies to merge
    • #1
    • 23rd Mar 10, 11:51 AM
    MSE News: Coventry and Stroud & Swindon building societies to merge 23rd Mar 10 at 11:51 AM
    This is the discussion thread for the following MSE News Story:

    "The expanded society, with 1.5 million members from the September tie-up date, will be called Coventry Building Society ..."



Page 1
    • Old Wrinkly
    • By Old Wrinkly 23rd Mar 10, 12:39 PM
    • 4,918 Posts
    • 8,450 Thanks
    Old Wrinkly
    • #2
    • 23rd Mar 10, 12:39 PM
    • #2
    • 23rd Mar 10, 12:39 PM
    Since there is already a thread on this from a fortnight or so ago (when Sky and the BBC reported the start of talks), perhaps they should be merged somehow ...
    http://forums.moneysavingexpert.com/showthread.html?t=2321725

    Incidentally, how is it still being termed a merger when the 'new' name will be Coventry, the HQ will be in Coventry, and the management will be Coventry's. Sounds like a takeover to me.
    • sce8pmh
    • By sce8pmh 23rd Mar 10, 4:09 PM
    • 107 Posts
    • 43 Thanks
    sce8pmh
    • #3
    • 23rd Mar 10, 4:09 PM
    • #3
    • 23rd Mar 10, 4:09 PM
    I'm a bit confused with the Stroud and Swindon's Annual Report and Review of 2009. They announce the "merger" with the Coventry on the same day as the Report and Review ares released, but there is no mentions of the merger in either. It even provide details of Board members up for re-election. Why when they announced on the same day that they won't be on the new board? Very weird.
    • edgex
    • By edgex 23rd Mar 10, 5:13 PM
    • 3,316 Posts
    • 4,545 Thanks
    edgex
    • #4
    • 23rd Mar 10, 5:13 PM
    • #4
    • 23rd Mar 10, 5:13 PM
    Since there is already a thread on this from a fortnight or so ago (when Sky and the BBC reported the start of talks), perhaps they should be merged somehow ...
    http://forums.moneysavingexpert.com/showthread.html?t=2321725

    Incidentally, how is it still being termed a merger when the 'new' name will be Coventry, the HQ will be in Coventry, and the management will be Coventry's. Sounds like a takeover to me.
    Originally posted by Old Wrinkly

    building societies dont have shares, & so they cant be bought up/taken over
    • baby_boomer
    • By baby_boomer 23rd Mar 10, 5:59 PM
    • 3,775 Posts
    • 5,383 Thanks
    baby_boomer
    • #5
    • 23rd Mar 10, 5:59 PM
    • #5
    • 23rd Mar 10, 5:59 PM
    building societies dont have shares, & so they cant be bought up
    Originally posted by edgex
    Not exactly true, although you wouldn't know it from the current trend of their boards, your directors, giving them away for free to whoever will sort out their own pensions and payoffs
    • edda
    • By edda 23rd Mar 10, 6:46 PM
    • 1,043 Posts
    • 3,966 Thanks
    edda
    • #6
    • 23rd Mar 10, 6:46 PM
    • #6
    • 23rd Mar 10, 6:46 PM
    According to the Q&A sheet, Stroud & Swindon members will get a vote on the merger. Coventry members won't.
    • Cleaver
    • By Cleaver 23rd Mar 10, 7:16 PM
    • 6,543 Posts
    • 25,345 Thanks
    Cleaver
    • #7
    • 23rd Mar 10, 7:16 PM
    • #7
    • 23rd Mar 10, 7:16 PM
    I glanced at the thread title and thought that Coventry and Swindon were merging. I can't imagine a more hellish place.
    • Sku11
    • By Sku11 24th Mar 10, 11:03 AM
    • 20 Posts
    • 3 Thanks
    Sku11
    • #8
    • 24th Mar 10, 11:03 AM
    • #8
    • 24th Mar 10, 11:03 AM
    I'm not a regular on here but there seems to be more and more Building Societies being merged that are no longer paying either members any windfall payments like they used to a few years ago ... in the favour of those same members .... I can see that this deal offers some improved benefits to both savers and borrowers initially but what about the long term ..... will it end (eventually) in one big company offering poor rates for both savers and borrowers ..... like monopoly
  • Trada
    • #9
    • 17th May 10, 10:30 AM
    • #9
    • 17th May 10, 10:30 AM
    I had my voting papers come today not sure which way to vote.
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