On 30th November 2009 we announced, with deep regret, that we would be closing 10 branches.  Ashby, Bedford, Chelmsford, Clacton, Colchester, Halesworth, Immingham, Kettering, Spilsby and Unthank Road in Norwich will all close in March 2010.

The environment for all financial services businesses has been exceptionally difficult in the last two years and even though we remain a stable business, N&P is not immune to its effects. 

In order to maintain the strength of the business, we're having to reduce the size of our branch network (our biggest area of cost) and focus back into our regional heartland where our brand is best known and we are strongest. Halesworth and Unthank Road, although in our heartland, require substantial refurbishment and have other branches nearby.

More detail about why we're making these closures can be found in the FAQs above, along with answers to questions about managing your account.

Which branches are closing?

Regrettably, N&P have decided to close the following 10 branches from the 5th March 2010.

  • Kettering
  • Unthank Road, Norwich
  • Spilsby
  • Colchester
  • Clacton
  • Chelmsford
  • Immingham
  • Halesworth
  • Ashby
  • Bedford

If you are affected by N&P branch closures, you can contact us over the phone by calling 0845 300 2932 or find your closest branch by visiting our Find a branch page.

Why is N&P closing branches?

We deeply regret the need to close any of our branches. The decision to close branches has been extremely difficult but, following an in-depth, careful review of our strategy for N&P, we have taken this decision to ensure that we may continue to strengthen N&P for the future.

As a result, we feel that it is necessary to pull back our geographical boundaries and concentrate on doing business in our heartland - the area where the great majority of our branches have always operated. In addition, we are also closing two smaller branches which are in need of considerable refurbishment that is not, unfortunately, a cost effective proposition.

Why is this happening now?

As you may have seen in the press recently, most building societies are currently experiencing very difficult trading conditions. On one side we face competition from state-aided banks and on the other, new regulations on funding have significantly increased our operating costs.

To offset the difficulties of this trading position we have already made significant cost savings across the N&P group.

Against this backdrop, the cost savings that will arise from the branch closure will help to make sure that N&P remains a stable and secure place where our customers can expect their money to work hard for them.

How will I benefit from the cost savings you make by closing branches?

The cost of running our branches is a significant proportion of the total cost of running N&P. By combining the cost savings that arise from closing a number of branches with the earlier cost savings made in our Head Office, we aim to reduce our overall cost base so that we may continue to provide attractive products and deliver a high level of customer service.

Which branch will become my account-holding branch?

If you are affected by branch closures your account will be moved to the nearest N&P branch.

This will take place on 5th March 2010 and will not affect the status of your account in any way. Customer accounts will be transferred as follows:

  • Kettering accounts will be transferred to Oundle branch
  • Unthank Road, Norwich accounts will be transferred to Chapelfield, Norwich branch
  • Spilsby accounts will be transferred to Boston branch
  • Colchester accounts will be transferred to Ipswich branch
  • Clacton accounts will be transferred to Ipswich branch
  • Chelmsford accounts will be transferred to Ipswich branch
  • Immingham accounts will be transferred to Louth branch
  • Halesworth accounts will be transferred to Southwold branch
  • Ashby accounts will be transferred to Lincoln branch
  • Bedford accounts will be transferred to St Neots branch
How will I manage my account when I no longer have access to my current branch?

N&P wants to make this as easy as possible for you and there are several options for you to consider. Please visit the How to manage your N&P account tab above for details.

I don't have a debit/LINK card so how will I be able to get hold of my money?

You can withdraw money and carry out transactions at any N&P branch, all you need to do is take your passbook with you when you visit.

You can also register for N&P's Postal Service. This will allow you to carry out transactions by post. It's easy to do - send your passbook and a withdrawal form into our postal service team and they will write a cheque and send it back to you with your passbook. You can request everything you need to use our Postal Service by calling us on 0845 300 2932.

Can I use the Internet to manage my money?

Yes if you have a current account. If you don't currently use Internet Banking please download a registration form for Internet Banking.

I don't have access to the Internet, how else can I manage my money?

If you have existing instructions to pay bills or transfer money within your account you can phone 0845 300 2932 to manage your money over the phone, if not please ring 0845 300 2932 for more information.

I have a mortgage or loan with N&P. Will I have to look for another lender?

No. Your mortgage will not be affected in any way. If you have any queries you'll be able to talk to an N&P mortgage expert at any N&P branch, or over the phone by calling 0845 300 2932.

How will these changes affect my N&P credit card?

They won't. You will still receive statements from MBNA and will be able to pay your bill as normal by post or direct debit or in person at any Post Office, bank or building society or online.

What about my insurance?

Closure of your branch will not affect your policy. You'll find all the help you need over the phone on 0845 300 2932 or from any other N&P branch (including Norwich and Peterborough Insurance Brokers). Check your documentation for the contact details to make a claim, renew your policy or take out any additional insurance.

Is my money safe?

Your money is completely safe. The changes will not have a negative affect on your savings account. In fact, N&P will be in an even better position to look after your money in the future.

Is my money protected under the Financial Services Compensation Scheme?

N&P is a member of the Financial Services Compensation Scheme. This means that your savings are protected to a maximum of £50,000.

Will the interest rate reduce on N&P savings accounts?

Interest rates will not be affected by branch closure. Any interest rate rises or reductions will be as a result of market conditions.

Can I still open a new account with N&P?

Definitely. We're constantly reviewing our product range to help make your money work harder for you. Take a look around the N&P website or call 0845 300 2932 and speak to one of our advisers who will be able to talk you through the choices available or carry out a free money review to see how else we can help you.

Will I still be a member of N&P?

Yes, as long as you continue to comply with the terms and conditions of your account, you will still be a member of N&P - just as you were before.

Will I still have a vote?

If you are affected by a branch closure, this will not affect your voting rights. You will still have the right to vote according to the current rules of the Society.

Will I still receive the voting pack?

Yes, this will be sent to you in the normal way - either online or by post, depending on the arrangements you have already made with us.

How many branches will there be in my area now?

Please visit our Find a branch page to find the branches which are closest to you.

Who can I contact about the closure of N&P branches?

You can contact us over the phone by calling 0845 300 2932 or by writing to:

Norwich and Peterborough Building Society
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6WZ

View All Frequently Asked Questions

How to manage your N&P account

Despite the extremely difficult decision to close 10 of our branches, you can still manage your accounts in a variety of ways. For a reminder on how to manage your accounts use the links provided below:

Managing your Savings account

You’ll be able to manage your account through any N&P branch. If this is not convenient, you will be able to use the N&P Postal Service to make payments or withdraw funds, as the terms of your account allow.

Some N&P savings accounts can be managed online with our Internet Banking service. To check if your account allows you to do this, please see the terms and conditions in your account documentation. You can also call our Contact Centre on 0845 300 2932 or check our Savings Accounts section.

Please refer to the terms and conditions of your savings account concerning withdrawal notice periods, account closures and other requirements for managing your account.

Managing your Current Account

You’ll be able to manage your account through any N&P branch or online with our Internet Banking service. Available 24 hours a day, our online service gives you the opportunity to check your balance, transfer money or make payments at the time that’s right for you. It’s a completely safe and secure way to access your account.

You can download a registration form for Internet Banking.

If you have already registered for Internet Banking but can no longer access your account online, if because for example, you are locked out of your account or cannot remember your log-in details, please call 0845 300 2808. 

Withdrawing cash at any LINK cash machine

It’s also helpful to know that, if you have a cash machine card with a LINK symbol, you can withdraw cash at any LINK cash machine in the UK. There are over 38,500 free-to-use machines available country wide, some in supermarkets and petrol stations, as well as on the high street. Look out for the symbol.

Managing your Mortgage

Please continue to make your monthly payments in the usual way. Your account will not be affected by the closure of your branch. If we need to contact you about your mortgage we will write to you in the normal way.

Your N&P Financial Advice Service

Your N&P Financial Planner will continue to work in exactly the same way to help you get the best from your investments. Any investments that you have already made with your N&P Financial Planner will continue to be managed as they were before the closure of your branch.

If you don’t have your Financial Planner’s contact details call
0845 300 2932 and we’ll be pleased to put you back in touch.

How will the changes affect you if you are a customer of any other N&P product not already mentioned above?

Any other N&P products that you have arranged directly with your branch will not be affected by the closure of your branch.

We’re safe and secure

N&P is a safe, well capitalised business that operates as a traditional building society. Unlike most building societies though, our income doesn’t just rely on savings and mortgages; we’ve also diversified into other areas such as banking, insurance and independent financial advice. This means that, whilst we still have to respond to the pressures of a recession by managing our costs very carefully, we aim to have a strong, stable business that is here to service existing and future members.

Just as importantly, the stringent criteria that we use when making loan decisions mean that we have not been involved in the high risk lending that has caused so many problems for high street banks. As a result, our overall arrears rate is about one third of the industry average and specifically, less than 1% of our mortgage customers are in serious arrears.

We’re mutual

We’re not a bank; we’re a building society, mutually owned by our members for our members. We don’t have any equity shareholders – so the hard work we do benefits our members and customers alone.

We’re easy to talk to

Our Contact Centre is based in Peterborough, so when you call us you won’t end up speaking to someone in another country – just a helpful adviser based in our Head Office.

We’re here to help you stay on top of money

Everything we do at N&P we do for one reason – to provide the advice and support you need to stay on top of your money and make it work as hard as possible for you.