The Newcastle Building Society is a UK

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 savings and mortgage lending. Building societies exist in the United Kingd ...

that has its head office in

Newcastle upon Tyne Newcastle upon Tyne ( RP: , ), or simply Newcastle, is a city and metropolitan borough in Tyne and Wear, England. The city is located on the River Tyne's northern bank and forms the largest part of the Tyneside built-up area. Newcastle is ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

. It is a member of the

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, i ...

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 Cobalt Park is a business park located in North Tyneside, England. It is one of the largest business parks in the United Kingdom. History Initially known as Hadrian Business Park plans for the area were devised the early 1990s by the Tyne and ...

in North Tyneside in 2008. In May 2010, the society announced its repositioning program 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 Wirecard AG is an insolvent German payment processor and financial services provider whose former CEO, COO, two board members, and other executives have been arrested or otherwise implicated in criminal proceedings. In June 2020, the company a ...

AG of Germany acquired Newcastle Building Society's prepaid card issuing activities in six European countries.Wirecard acquires prepaid cards division of Newcastle Building Society, 16 December 2011
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References

External links

Newcastle Building SocietyBuilding Societies AssociationEntry in KPMG Building Societies Database 20082010 year-end results, announced March 2011
{{UK Building Societies Building societies of England Banks established in 1980 Companies based in Newcastle upon Tyne 1980 establishments in England