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Thread: Furness BS - wavering?

  1. #1
    Junior Member Happybagger is an unknown quantity at this point
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    Furness BS - wavering?

    From the annual report, not the most convincing of arguments for maintaining independent building society status:

    We must change and adapt
    During 2018 we will undertake a detailed strategic review
    We face ever increasing competition
    We have to work harder to maintain our market share
    The board have a reasonable expectation that the society will be able to operate for the foreseeable future

    Only 'reasonable'?!
    LinoSack likes this.

  2. #2
    Expert planteria will become famous soon enough
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    agreed HB.. expect Skipton or Nationwide to be on the scene before too long. or perhaps a merger with the Cumberland if the latter have the appetite for such things.

  3. #3
    Junior Member Happybagger is an unknown quantity at this point
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    Cumberland unlikely imo

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    Look at the Manchester BS thread (currently immediately below this) and the Manchester made it clear they wanted a takeover two years ago. Still waiting. Not saying they, or indeed the Furness, won't go (still remember the shock when the Catholic merged with the Chelsea) but I won't be holding my breath while I wait.

    Plus I get 1.2% on my Furness account. These days that's a pretty decent rate.

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    Look at the Manchester BS thread (currently immediately below this) and the Manchester made it clear they wanted a takeover two years ago. Still waiting. Not saying they, or indeed the Furness, won't go (still remember the shock when the Catholic merged with the Chelsea) but I won't be holding my breath while I wait.

    Plus I get 1.2% on my Furness account. These days that's a pretty decent rate.

    1User

  6. #6
    Expert planteria will become famous soon enough
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    agreed that Cumberland is unlikely, Skipton and Nationwide are the usual suspects: perhaps with a Skipton leaning towards affluent customer bases, and Nationwide more 'mass market'.
    agreed re. 1.2% being a decent rate nowdays too. is that a ?100mob Instant Access account?

  7. #7
    Junior Member Happybagger is an unknown quantity at this point
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    Ive just got the regular saver with them ten quid a month at 1.8% set it up and leave it tbh.

    Cumberland is the only one Im not in. Even if I was local their accounts are rubbish

    I was looking at their website using my phone yesterday and I don't know if the full website is the same but it doesnt even show a single savings account? It's only on about mortgages and current accounts

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    Furness Regular is (supposedly) for locals only. I visited a branch once and they seemed friendly enough. Might let "foreigners" in.

    I still get 1.2% on my Homesaver Account which is no longer available. There is also a Homesaver 2 which only pays 0.35% and that is no longer available either!

    1User

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    Furness Regular is (supposedly) for locals only. I visited a branch once and they seemed friendly enough. Might let "foreigners" in.

    I still get 1.2% on my Homesaver Account which is no longer available. There is also a Homesaver 2 which only pays 0.35% and that is no longer available either!

    1User

  10. #10
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    The Cumberland is almost worth starting a new thread on. They have long been an unfriendly bunch, always alert to the threat of carpetbaggers. I was lucky enough to get in before they closed the doors.

    It is therefore somewhat ironic that the staunch defenders of building society mutuality REALLY push their current (bank) accounts these days. They try to flog you a bank account anyway. Plus they only allow internet access to any of your accounts if you also have their current account. Plus you can only open their (decent paying) regular saver if you have one of their current accounts.

    On top of that they do car loans and business advice. All very bank like...

    Having said that they do still offer some standard building society share (savings) accounts. There is an Instant Access paying 0.2%. A 40 day account paying 0.45% on a minimum of ?500. An ISA paying 0.85%. Plus Charity and Football Supporter Accounts paying 0.2%

    The Regular Saver (requires you to have the current account first) is 2.3%

    There is an eSavings account paying 1.25% but again you have to open the current account first.

    Don't know for sure these days but previously they were very firm on the locals only policy. Good luck!

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