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Building Societies
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending. Building societies exist in the United Kingdom, Australia and New Zealand, and used to exist in Ireland and several Commonwealth countries. They are similar to credit unions in organisation, though few enforce a common bond. However, rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Great Britain from cooperative savings groups. In the United Kingdom, building societies actively compete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Societies Association
The Building Societies Association (BSA) was originally established in 1869. It is the voice for all 43 UK building societies as well as six large credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...s. Together these organisations serve around 25 million customers up and down the length of the UK. The BSA's objective is to push for the best outcomes for building societies and other members from the plethora of new and changing regulation and legislation in the UK and Europe. Key sector statistics Building societies have total assets of £415 billion and, together with their subsidiaries, hold residential mortgages of almost £330 billion, 23% of the total outstanding in the UK. They hold over £280 billion of retail deposits, accounting for 19% of all such deposit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Unicorn Hotel - Banbury
''The'' () is a grammatical Article (grammar), article in English language, English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the Most common words in English, most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending agreement. The protection that collateral provides generally allows lenders to offer a lower interest rate on loans that have collateral. The reduction in interest rate can be up to several percentage points, depending on the type and value of the collateral. For example, the Annual Percentage Rate (APR) on an unsecured loan is often much higher than on a secured loan or logbook loan. If a borrower defaults on a loan (due to insolvency or another event), that borrower loses the property pledged as collateral, with the lender then becoming the owner of the property. In a typical mortgage loan transaction, for instance, the real estate being acq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Societies Act 1986
The Building Societies Act 1986 is an Act of Parliament of the United Kingdom governing building societies ( mutually-owned mortgage-lending institutions). It removed certain restrictions on the range of services they could offer, so that they could compete with banks on a level basis: they could now make unsecured loans, offer cheque accounts, exchange currencies, provide stockbroking services, manage personal equity plans (tax-privileged investment accounts) and portfolios of unit trusts, arrange and advise on insurance, etc. A new regulatory agency, the Building Societies Commission, was set up to supervise the activities of the societies, which were allowed to de-mutualise and become public limited companies subject to the agreement of their depositors. This Act and the Big Bang stockmarket reform, also in the UK, also in 1986, were the two central planks of the move to financial deregulation in the United Kingdom in the 1980s. The Financial Services Act 1986 was also part o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abbey National Bank On Commercial Street, Leeds
An abbey is a type of monastery used by members of a religious order under the governance of an abbot or abbess. Abbeys provide a complex of buildings and land for religious activities, work, and housing of Christian monks and nuns. The concept of the abbey has developed over many centuries from the early monastic ways of religious men and women where they would live isolated from the lay community about them. Religious life in an abbey may be monastic. An abbey may be the home of an enclosed religious order or may be open to visitors. The layout of the church and associated buildings of an abbey often follows a set plan determined by the founding religious order. Abbeys are often self-sufficient while using any abundance of produce or skill to provide care to the poor and needy, refuge to the persecuted, or education to the young. Some abbeys offer accommodation to people who are seeking spiritual retreat. There are many famous abbeys across the Mediterranean Basin and Europe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demutualization
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coney Hall
Coney Hall is an area of Greater London, within the London Borough of Bromley, Greater London and formerly in the historic county of Kent. It is located south of Hayes, west of Keston, north of Nash, and east of West Wickham. The Prime Meridian passes through Coney Hall. History Coney Hall Farm was first mentioned in the 17th century, when its lease stated that the tenant had the sole right to catch coneys ( rabbits) on nearby Jackson’s Heath.Willey, Russ. ''Chambers London Gazetteer'', pgs 115-16 Coney Hall is one of many owner-occupied estates arising during the inter-War housing boom; it was built in the 1930s on hilly farmland south-east of West Wickham by the developers Morrell Brothers, who purchased Coney Hall Farm following the death of its owner Sir Henry Lennard in 1928. In the previous decade, Lennard's opposition to road developments adjacent to West Wickham Common and Hayes Common had left the area accessible only by steep and narrow lanes. In Coney Hall's ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Societies Act 1874
A building, or edifice, is an enclosed structure with a roof and walls standing more or less permanently in one place, such as a house or factory (although there's also portable buildings). Buildings come in a variety of sizes, shapes, and functions, and have been adapted throughout history for a wide number of factors, from building materials available, to weather conditions, land prices, ground conditions, specific uses, prestige, and aesthetic reasons. To better understand the term ''building'' compare the list of nonbuilding structures. Buildings serve several societal needs – primarily as shelter from weather, security, living space, privacy, to store belongings, and to comfortably live and work. A building as a shelter represents a physical division of the human habitat (a place of comfort and safety) and the ''outside'' (a place that at times may be harsh and harmful). Ever since the first cave paintings, buildings have also become objects or canvasses of much artistic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leek United Building Society
Leek Building Society is an independent mutual building society based in Leek, Staffordshire, England. It is the 16th largest building society in the UK, based on total assets of £1,091.4m as at 31 December 2019. The Society has 12 branches and a Customer Service Centre across Cheshire, Derbyshire, Shropshire and Staffordshire. It is a member of the Building Societies Association. History The Society was established as the Leek United Permanent Benefit Building Society on 1 January 1863, under the motto ‘Firm and Lasting (as the pyramids)’. The burgeoning building society movement of the mid-19th century saw hundreds of local mutual savings and loan organisations opening up across the country, and at the time of Leek Building Society's incorporation, there were almost 3,000 building societies in existence. By 1883, the Society had total assets of £90,000, reserves of £5,000 and a membership of 1,328. It changed its name to Leek United & Midlands Building Society in 1919, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Salisbury And District Perfect Thrift Building Society
First or 1st is the ordinal form of the number one (#1). First or 1st may also refer to: *World record, specifically the first instance of a particular achievement Arts and media Music * 1$T, American rapper, singer-songwriter, DJ, and record producer Albums * ''1st'' (album), a 1983 album by Streets * ''1st'' (Rasmus EP), a 1995 EP by The Rasmus, frequently identified as a single * ''1ST'', a 2021 album by SixTones * ''First'' (Baroness EP), an EP by Baroness * ''First'' (Ferlyn G EP), an EP by Ferlyn G * ''First'' (David Gates album), an album by David Gates * ''First'' (O'Bryan album), an album by O'Bryan * ''First'' (Raymond Lam album), an album by Raymond Lam * ''First'', an album by Denise Ho Songs * "First" (Cold War Kids song), a song by Cold War Kids * "First" (Lindsay Lohan song), a song by Lindsay Lohan * "First", a song by Everglow from '' Last Melody'' * "First", a song by Lauren Daigle * "First", a song by Niki & Gabi * "First", a song by Jonas Brot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terminating Deposit
{{unreferenced, date=August 2007 Terminating deposits were a form of savings-and-loan that were one of the key products of the early building society movement in the UK and from there they spread through what is now the Commonwealth. They were banned in the UK around 1910, and are now illegal everywhere, the last vestiges being seen in New Zealand. The key features were: # terminating deposits were open to subscription by depositors for a period of time until the required number of depositors to make it viable had been found. Then the Group as it was known would be closed off and subsequent applicants would be enrolled into the next group. # depositors were contracted to make a small deposit on a regular basis e.g. weekly or monthly (similar to insurance savings policies) # no interest was received on these deposits # whenever the group had enough funds a ballot would be held of all depositors who were up to date with payments. The ballot prize was an interest free mortgage loan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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