This article needs to be updated.(October 2022)
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.
|Type||Building Society (Mutual)|
|Founded||Newcastle Permanent Building Society (1863)|
Newcastle Building Society (1980)
|Headquarters||Newcastle upon Tyne, England, UK|
Number of locations
|Phil Moorhouse, (Chairman)|
Andrew Haigh, (Chief Executive)
|Services||Savings, Mortgages, Investments,|
|Total assets||£4.8bn (2020)|
Number of employees
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.
In 2006, it merged with another Newcastle-based society, the Universal Building Society.
The society opened another office at Cobalt Business Park in North Tyneside in 2008.
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.
In December 2011, Wirecard AG of Germany acquired Newcastle Building Society's prepaid card issuing activities in six European countries.
In February 2023 it was confirmed that the society had agreed to merge with the Manchester Building Society. The merger was expected to be completed by July 1, 2023.
- ^ https://www.newcastle.co.uk/NewcastleBuildingSociety/media/Documents/About%20Us/Stock-Exchange-Announcement-2020.pdf[permanent dead link]
- ^ A full agenda for our mutual friend North East Business, 10 September 2007, Retrieved 11 April 2009
- ^ Building Society Mergers and Conversions since 1980 Archived 2011-07-24 at the Wayback Machine Building Societies Association website (Retrieved 5 April 2007)
- ^ Evening Chronicle, Feb 26, 2008 Newcastle Building Society grows despite crisis, Gareth Deighan. Via Chronicle Live, retrieved on 24 March 2008.
- ^ McCusker, Peter (25 February 2011). "Newcastle Building Society plan to lend more". NEBusiness.co.uk. The Journal / Evening Gazette. Retrieved 25 March 2013.
- ^ Wirecard acquires prepaid cards division of Newcastle Building Society, 16 December 2011
- ^ Fowler, Ryan (21 February 2023). "Newcastle Building Society and Manchester Building Society agree to merge by way of transfer of engagements". The Intermediary - Latest UK mortgage news. Retrieved 4 March 2023.