Staffordshire building society was taken over by the portman a few years back. Published by portman building society on 11. 08. 0. But compared with a bank's shareholders, a building society's members are much closer to what is taking place, both as borrowers and as lenders.

It is sad to see the continuing demise of the building society sector for yet another year. Members receive information about how the building society is run and can attend and speak at meetings. Portman building society, the uk’s 3rd largest building society, today issued its interim results for the six months ended 30 june 2006. insolvency practioner Vernon building society open to investors from stockport only. Lloyds takeover of cheltenham and gloucester building society c&g.

And directors of building societies are paid much less than directors of banks. If the fsa was anything more than a bunch of stooges it would kick this merger into touch without hesitation. The building society commission, which regulates the movement, and the treasury had grave misgivings about the cheltenham and gloucester deal.

None of the building societies came close. Mr williamson said the deal was definitely a merger rather than his company taking over the smaller portman. The boards of nationwide and portman building societies today announce that they have agreed to merge. Sep 12: the nationwide building society today announced a merger with its rival portman, creating a competitor to the big high street banks. The merged building society will be called nationwide, so former portman members will become members of nationwide. The society expected the average payment to be about gbp 2, 000, with payments ranging from gbp 500 to gbp 13, 500. But building societies have been merging, have been taken over by banks and have turned themselves into banks.

But profit- maximising banks would not be able to compete profitably with mutual- help nonprofit- making building societies in providing mortgages. A vacancy on a building society's board of directors is filled by the directors themselves appointing the new director. Nationwide’s existing head office in swindon will be the head office of the enlarged society. But profit- maximising banks would not be able to compete profitably with mutual- help nonprofit- making building societies in providing mortgages.

So building society directors are that much more closely observed by the owners, by the members. Uk legislation regulates what building societies may, or may not, do. Will there be any windfalls for members following the merger?Overall, giving away many gbp billions to building society members to encourage them to give away mutuality. Portman's members, for example, will be able to vote on this merger. Look at building societies that are more likely to be the prey than preditor. Independent mortgage company. With the lambeth and portman already linking up, there is now a flurry of chatter about future mergers.

Other conversions, flotations, mergers and takeovers. This is the first building society merger of its kind where both entities are retaining their unique local brands. Ask yourself, what has this building society got that others have not?

Will there be any windfalls for members following the merger?Personal finance editor jeff prestridge has been closely watching the performance of building societies and boardroom salaries to make sure members are getting value for money. insolvency northern ireland order The joining together of the uk's largest and third largest building societies will leave members of both wondering what's in it for them. In the most recent financial year the society reported record profit before tax of £559. Graham beale, currently group finance director at nationwide, will become chief executive of nationwide on 1 april 2007 and subsequently of the enlarged society on completion of the proposed merger. The merger is expected to create the uk's second- largest mortgage lender and the second- largest retail savings provider. Sharpe will retire once the merger is complete, while williamson plans to quit before the close date.

Copies of the decision will be sent to each society and to those who made representations. April 12: a law student's legal action over bank and building society charges was rejected by a judge today. However, nationwide chief executive philip williamson told the bbc that the merger would mean some job losses.

Payment of the merger bonus is dependent upon approval of the merger by portman members, confirmation by the fsa and the required regulatory approvals. Sharpe will retire once the merger is complete, while williamso Members with both savings and a mortgage with the portman will be eligible for two merger bonuses.