Holmesdale BS - what is all this about?

[fathippy]

Finally got a two page reply from the chairman - it was dated 18th july, but have been on an extended jury service, so missed both that and the EGM itself.

Nothing really to add, she merely says everything was above board - this is perfectly normal - and that the results were excellent - they went from losing 200k a year to making 1500k so the expenditure was well worth it.

I suspect the society is an ex society now, so this gets consigned to the dustbin of time.

[fathippy]

Finally got a two page reply from the chairman - it was dated 18th july, but have been on an extended jury service, so missed both that and the EGM itself.

Nothing really to add, she merely says everything was above board - this is perfectly normal - and that the results were excellent - they went from losing 200k a year to making 1500k so the expenditure was well worth it.

I suspect the society is an ex society now, so this gets consigned to the dustbin of time.

[1User]

So the results are in.

About 1,000 of the 7,000 members voted.

About 79% of the savers who voted gave their votes for the merger (about 21% against.)

About 88% (of the 119) borrowers who voted were for (about 12% against.)

So after 1st October it should be officially over.

1User

(Obviously we have no idea whether those 1,000 actually voted or whether they just obediently followed the directions of the board.)

[planteria]

it's sad to see the outcome, but unless we suspect electoral fraud then they are 1000 real votes. voting in accordance with board recommendations is still voting.

[Happybagger]

A shame that on something as fundamental as the end of their society around 85% members couldn't give a stuff.

Not the ringing endorsement of mutuality they have us believe

[planteria]

agreed. some members will be oblivious, not reading the information. and others, i guess, will either not understand or will just leave it to the rest of us to decide. how many societies will this leave us with?

[1User]

There are currently 43 UK Building Societies plus the soon to go Holmesdale. So 44 right now but there will be 43 after October 1st.

Having said that the National Counties Building Society also trades as The Family Building Society but me, personally, I only count them as one.

Some will remember the former Kent Reliance Building Society. It changed its status to a provident society. It owns about 60% of the OneSavings Bank which is a publicly listed bank. However it is not - legally - a building society anymore so is not included here.

Here is the list of all 44 Building Societies in (more or less) order of size. Sorry about the ALL CAPS but I simply copied and pasted from a spreadsheet of mine:

NATIONWIDE

YORKSHIRE

COVENTRY

SKIPTON

LEEDS

PRINCIPALITY

WEST BROMWICH

NEWCASTLE

NOTTINGHAM

CUMBERLAND

NATIONAL COUNTIES (Also trades as FAMILY)

PROGRESSIVE

SAFFRON

CAMBRIDGE

MONMOUTHSHIRE

NEWBURY

LEEK UNITED

FURNESS

HINCKLEY AND RUGBY

IPSWICH

DARLINGTON

MELTON MOWBRAY

MARKET HARBOROUGH

MARSDEN

SCOTTISH

HANLEY ECONOMIC

MANCHESTER

TIPTON AND COSELEY

DUDLEY

MANSFIELD

HARPENDEN

LOUGHBOROUGH

VERNON

BATH INVESTMENT

STAFFORDSHIRE RAILWAY

SWANSEA

TEACHERS

BUCKINGHAMSHIRE

CHORLEY AND DISTRICT

BEVERLEY

HOLMESDALE

ECOLOGY

EARL SHILTON

PENRITH

1User

[planteria]

thank you 1User.. and agreed, NCBS is one of the 43. Family is not a Building Society in it's own right.

[planteria]

so, just to wrap up, Holmesdale Building Society is no more:

https://www.skipton.co.uk/about-us/holmesdale