Newcastle Building Society is the eighth largest building society in the UK, with its headquarters in Newcastle upon Tyne, England. It is a member of the Building Societies Association. At December 2022, the Society had total assets of more than £5 billion.
History The Society in its current form was formed in 1980 as a result of a merger between the Grainger (founded 1861) and Newcastle Permanent Building Societies (founded 1863).
After 16 years at Grainger as Chief Executive and Managing Director, Phillip Langley-Essen was appointed the first Executive Head of the Newcastle Building Society (NBS) in 1980. Even designing its logo, Essen was influential in the formation of the NBS in the six years he was working at the society.A full agenda for our mutual friend North East Business, 10 September 2007, Retrieved 11 April 2009
In 2006, it merged with another Newcastle-based society, the Universal Building Society.Building Society Mergers and Conversions since 1980 Building Societies Association website (Retrieved 5 April 2007) Two years later it opened a new office at Cobalt Business Park in North Tyneside.Evening Chronicle, Feb 26, 2008 Newcastle Building Society grows despite crisis, Gareth Deighan. Via Chronicle Live, retrieved on 24 March 2008.
In February 2011, it announced that it plans to lend more to the North East's housing market. Ten months later, Wirecard AG of Germany acquired Newcastle Building Society's prepaid card issuing activities in six European countries.
In February 2023 it was confirmed that the society had agreed to merge with the Manchester Building Society. The merger was completed in July 2023.
References
External links
Newcastle Building Society Building Societies Association Entry in KPMG Building Societies Database 2008 2010 year-end results, announced March 2011