City of Derry Building Society
Encyclopedia
The City of Derry Building Society is a UK building society
based in Derry
, County Londonderry
, Northern Ireland
. It is a member of the Building Societies Association
. Until 2001, it was known as the Londonderry Provident Building Society.
It is the 58th largest in the United Kingdom based on total assets of £36 million at 31 December 2007.
It is the smaller of just two building societies based in Northern Ireland, the other being Belfast's Progressive Building Society
.
The society only has one office, and moved to its current Carlisle Road premises in 1993. At that time, it was the smallest UK building society with only £5 million in assets, growing to just £12 million by 2000.
In 1996, it became so popular due to coming near the top of savings rate league tables, that it temporarily refused new business from outside Northern Ireland. In 2006, the society was still restricting membership to local residents.
The name change in 2001 was prompted in part by earlier vandalism of the society's sign, and was opposed by local unionist politician, Gregory Campbell
. The society was one of 12 institutions that did not sign up at the launch of the 2001 revised banking code.
City of Derry Building Society was the name of another local building society, that also traces its first registration back to 1876. That society (number 4BNI) merged with Nationwide Anglia Building Society by a transfer of engagements on 30 September 1987.
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
based in Derry
Derry
Derry or Londonderry is the second-biggest city in Northern Ireland and the fourth-biggest city on the island of Ireland. The name Derry is an anglicisation of the Irish name Doire or Doire Cholmcille meaning "oak-wood of Colmcille"...
, County Londonderry
County Londonderry
The place name Derry is an anglicisation of the old Irish Daire meaning oak-grove or oak-wood. As with the city, its name is subject to the Derry/Londonderry name dispute, with the form Derry preferred by nationalists and Londonderry preferred by unionists...
, Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
. It is a member of the Building Societies Association
Building Societies Association
The Building Societies Association is the trade organisation of the building societies in the United Kingdom. In 2011 the 48 building societies in the UK had total assets of over £317 billion. 15 million adults have building society saving accounts and over 2.9 million adults are currently buying...
. Until 2001, it was known as the Londonderry Provident Building Society.
It is the 58th largest in the United Kingdom based on total assets of £36 million at 31 December 2007.
It is the smaller of just two building societies based in Northern Ireland, the other being Belfast's Progressive Building Society
Progressive Building Society
The Progressive Building Society was founded in 1914 in Belfast, and operates 12 branches across Northern Ireland. It currently sponsors the weather on UTV. It is a member of the Building Societies Association.-External links:***...
.
The society only has one office, and moved to its current Carlisle Road premises in 1993. At that time, it was the smallest UK building society with only £5 million in assets, growing to just £12 million by 2000.
In 1996, it became so popular due to coming near the top of savings rate league tables, that it temporarily refused new business from outside Northern Ireland. In 2006, the society was still restricting membership to local residents.
The name change in 2001 was prompted in part by earlier vandalism of the society's sign, and was opposed by local unionist politician, Gregory Campbell
Gregory Campbell (politician)
Gregory Lloyd Campbell is a Northern Irish unionist politician, and the Democratic Unionist Party Member of Parliament of the Parliament of the United Kingdom, representing the East Londonderry constituency of Northern Ireland....
. The society was one of 12 institutions that did not sign up at the launch of the 2001 revised banking code.
City of Derry Building Society was the name of another local building society, that also traces its first registration back to 1876. That society (number 4BNI) merged with Nationwide Anglia Building Society by a transfer of engagements on 30 September 1987.
External links
- City of Derry Building Society
- KPMG Building Societies Database 2008
- Former City of Derry Building Society (15 May 1876–30 Sep 1987) at FSA Mutuals Public Register
- Current City of Derry Building Society (28 Apr 1876–) at FSA Mutuals Public Register