Newcastle Building Society

The Newcastle Building Society is a UK building society that has its head office in Newcastle upon Tyne, England. It is a member of the Building Societies Association.

Newcastle Building Society
TypeBuilding Society (Mutual)
IndustryBanking and Financial Services
FoundedNewcastle Permanent Building Society (1863)
Newcastle Building Society (1980)
HeadquartersNewcastle upon Tyne, England, UK
Number of locations
31
Key people
Phil Moorhouse, (Chairman)
Andrew Haigh, (Chief Executive)
ServicesSavings, Mortgages, Investments,
Insurance
£36.6m (2010)
£(3.7)m (2010)
Total assets£4.4bn (2010)
Number of employees
951
Websitewww.newcastle.co.uk

History

It was formed in 1980 as a result of a merger between the Grainger (founded 1861) and Newcastle Permanent Building Societies (founded 1863). Its first Chief Executive was Phillip Langley-Essen after holding the position of Chief Executive and Managing Director for 16 years at the Grainger. He was influential in the formation of the new society and even designed the new logo. Mr. Langley -Essen retired from the Newcastle in 1986.[1]

In 2006, it merged with another Newcastle-based society, the Universal Building Society.[2]

The society opened another office at Cobalt Business Park in North Tyneside in 2008.[3]

In May 2010, the society announced its repositioning program in which it announced that it would make 126 jobs redundant and create 80 jobs in its Solutions division.

In February 2011, it announced that it plans to lend more to the North East's housing market.[4]

In December 2011, Wirecard AG of Germany acquired Newcastle Building Society's prepaid card issuing activities in six European countries.[5]

References
  1. A full agenda for our mutual friend North East Business, 10 September 2007, Retrieved 11 April 2009
  2. Building Society Mergers and Conversions since 1980 Archived 2011-07-24 at the Wayback Machine Building Societies Association website (Retrieved 5 April 2007)
  3. Evening Chronicle, Feb 26, 2008 Newcastle Building Society grows despite crisis, Gareth Deighan. Via Chronicle Live, retrieved on 24 March 2008.
  4. McCusker, Peter (25 February 2011). "Newcastle Building Society plan to lend more". NEBusiness.co.uk. The Journal / Evening Gazette. Retrieved 25 March 2013.
  5. Wirecard acquires prepaid cards division of Newcastle Building Society, 16 December 2011
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