Britannia members await result of merger ballot
Britannia Building Society is due to announce the result of its vote on plans for a merger with Co-operative Financial Services shortly.
Thousands of customers have gone to the Leek-based society's annual meeting at the NEC in Birmingham to vote on whether to approve the move.
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They will join tens of thousands of members who have already sent back ballot slips back to the slip or voted online.
For the merger to go-ahead, 75 per cent of Britannia saving members and 50 per cent of borrowing members have to vote in favour.
Bosses at the Leek-based building society say the merger would achieve efficiency savings and income benefits in excess of £60 million per year from 2012.
We will bring news of the result as soon as we have it.
3 Comments
by Carpetbagger, Stoke
Wednesday, April 29 2009, 1:22PM
“Oh dear, with interest rates the way they are, de-mutualisation was the only way I was going to get anything out of the Britannia. I'll have to pull my money out and look for somewhere else to put it.”
by Matthew, over here
Wednesday, April 29 2009, 1:09PM
“Well theres a suprise some people will be annoyed - but not me excellent news”
by Steve, Stoke on trent
Wednesday, April 29 2009, 12:57PM
“its a yes !! just been confirmed”