Posted on November 24, 2008 by mutualmoney
Within today’s Pre-budget Report (PBR) alongside the headline reduction in VAT is the expansion of the Savings Gateway Scheme (SGS). This scheme has been trialed in various, mostly deprived, areas and was judged a great success. Essentially the scheme encourages those on low incomes to save by topping up every £1 saved with an additional [...]
Filed under: General | Tagged: credit crunch, credit unions, Doorstep lenders, Financial Exlusion, Financial Inclusion, Pre-budget Report, Savings Gateway, VAT | Leave a Comment »
Posted on November 20, 2008 by mutualmoney
Sheffield Mutual the Yorkshire based friendly society has reported large increases in customer numbers. Policy sales were up 135% on October 2007, a feat the Sheffield puts down to investors being nervous about falling interest rates and being attracted to some of the guarantees offered by friendly society investment products.
The society also reported that 76% [...]
Filed under: General | Tagged: friendly societies, ISA, Sheffield Friendly Society, Tax Exempt Savings Plan | Leave a Comment »
Posted on November 13, 2008 by mutualmoney
The chairman of the Building Societies Association (BSA), John Goodfellow has hit out at government plans to increase levies for the Financial Services Compensation Scheme (FSCS). The BSA estimates that Building Societies will be forced to pay an additional £200m into the scheme this year in order to bailout the savers of just Bradford & [...]
Filed under: General | Tagged: Bradford & Bingley, Daily Mail, FSCS, Greed, HM Treasury, Nationwide, Skipton | 1 Comment »
Posted on November 13, 2008 by mutualmoney
Leeds City Credit Union (LCCU) , one of the largest credit unions in the UK has appointed a new CEO. Chris Smyth will be joining LCCU from Churchill Insurance, part of The Royal Bank of Scotland group. Chris has had a long career within the for-profit financial sector having worked for companies such as Direct [...]
Filed under: General | Tagged: co-operative, Credit Union, Doorstep lenders, Leeds, Leeds City Credit Union, Mutual, not-for-profit, Royal Bank of Scotland | Leave a Comment »
Posted on November 7, 2008 by mutualmoney
In a programme about the wider credit crunch, debt and the human costs of debt, the Money Programme on BBC2 has highlighted the work of credit unions in the UK. With credit becoming harder to come by and people struggling to make ends meet, people hitherto not associated with door step lending are turning to [...]
Filed under: General | Tagged: ABCUL, BBC, BBC2, credit unions, Greenwood, Money Programme, Provident, Shopacheck, Usuary | Leave a Comment »
Posted on November 3, 2008 by mutualmoney
According to press releases on both their websites, the Skipton Building Society and the Scarborough Building Society have today announced plans to merge. Skipton currently the UK’s 6th largest society will merge with Scarborough the 17th largest society. The newly merged society will be called Skipton.
This is the latest in a series of small society [...]
Filed under: General | Tagged: Building Society merger, Leeds Building Society, Mercantile Building Society, Merger, mortgages, Scarborough Building Society, Skipton Building Society, Teachers Building Society | Leave a Comment »
Posted on November 1, 2008 by mutualmoney
The mainstream press has chosen to reflect only the negative news from the BSA’s latest press release I.e that of deposit withdrawals. The other side of the story was that mortgage lending was up on last month, though admittedly still well short of Sept ‘07 figures.
While I do not believe that the current financial crisis [...]
Filed under: General | Tagged: best buys, Building Society, credit crunch, financial crisis, mortgage lending, Mutual, the guardian | Leave a Comment »
