We're proposing some important changes
Since 2011 the Norwich & Peterborough Building Society has been part of the Yorkshire Building Society Group, one of the largest and strongest building societies in the UK. As a building society, we continually review how our Society is run in order to ensure we're acting in the best long-term interests of all our members. With this in mind, we are proposing a number of changes and we feel it's important to let all of our Norwich & Peterborough customers know about these in order to provide as much advance notice as possible.
The Norwich & Peterborough brand
We are proposing that the Yorkshire Building Society will become our principal high street brand - leading to the eventual withdrawal of the Norwich & Peterborough Building Society name from the high street.
We believe operating fewer brands will help us to become more efficient, allowing us to provide better long-term value for all of our customers.
This means some existing Norwich & Peterborough accounts are likely to re-brand to Yorkshire Building Society, though the way you manage your money wouldn't change. You'd still be able to manage your accounts online, over the phone or in branch, depending on the type of accounts you hold. However, these proposed changes wouldn't happen until 2018, so there is no need to do anything right now.
The Norwich & Peterborough Current Account
As a building society, our primary purpose is to provide members with a secure place for their savings and support them in buying their own homes.
We believe we can best do this by focusing on our core business of mortgages and savings. This could lead us to take the difficult decision to close all Norwich & Peterborough current accounts, which we would seek to do by 31 August 2017.
If this proposal goes ahead and you hold a current account with us we will write to you to explain what you need to do next.
Norwich & Peterborough branches
We are constantly reviewing the way that customers do business with us and over time we have seen fewer of our customers using branches and an increasing number using the internet to manage their accounts. We believe that maintaining branches in some locations is no longer cost effective for the Society.
Therefore, we are proposing to close a number of Norwich & Peterborough branches. The proposed closures would start in September of this year.
If these proposals go ahead, the branches affected would be:
- North Norfolk area:
Dereham, Downham Market, Fakenham, North Walsham, Sheringham & Watton
- Norwich area:
Aylsham Road, Bowthorpe, Bungay, Chapelfield, Plumstead Road, Wroxham & Wymondham
- Peterborough area:
Bourne, Bretton, March, Market Deeping, Oundle, Spalding, Stamford, Werrington & Whittlesey
- Suffolk & Cambridge area:
Cambridge, Huntingdon, Leiston, Sawston, Southwold & Thetford
We recognise that any branch closures would be disappointing to our customers and we will not take any such decisions lightly. Whilst we remain committed to offering face-to-face service, the proposed branch closures reflect the changing ways in which our customers manage their money with us and would allow us to invest further in our online services.
We are also considering changing a number of remaining branches to Yorkshire Building Society.
You don't need to do anything right now
We will contact members again should these proposals go ahead and will do everything we can to support our members through these changes.
If you have any questions or concerns in the meantime, please don't hesitate to get in touch on 0333 414 1172. You can speak to one of our team between 8am - 8pm Monday to Friday, or 9am - 1pm Saturday or talk to us in branch.
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