Operating income Number of locations 28 Number of employees 951 | Profit £(3.7)m (2010) Founded 1980 | |
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Type Building Society (Mutual) Industry Banking and Financial Services Key people Phil Moorhouse, (Chairman)
Andrew Haigh, (Chief Executive) Services Savings, Mortgages, Investments,
Insurance Headquarters Newcastle upon Tyne, United Kingdom Subsidiaries Universal Building Society Profiles | ||
Newcastle building society community fund
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.
Contents
History
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 programme 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.