We're making 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 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 Current Account - update March 2017
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.
We let all N&P customers know in January about our proposal to close the N&P current account and since then have taken the difficult decision that all current accounts will need to close.
Our priority is to provide the best possible customer experience throughout this closure activity and ensure all of our customers have sufficient time to be able to choose another provider and then switch their accounts with the minimum disruption possible.
We are in the process of writing to all current account customers individually advising them that they need to close their account. So far, we have written to half of our customers and as a result have already seen a great deal of activity in terms of account closures and switches to alternative providers.
If you have not received your letter that details how to switch or close your current account then you do not have to take any action yet, unless you want to. We will ensure that all customers will have at least six months to switch or close their account from when they receive their letter.
In the meantime, if you would like further information including how to switch or close your current account, please visit our existing customer section.
The Norwich & Peterborough brand
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'll still be able to manage your accounts online, over the phone or in branch, depending on the type of accounts you hold. However, these changes won't happen until 2018, so there is no need to do anything right now.
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 closing a number of Norwich & Peterborough branches. The closures would start in September of this year and we will contact affected customers to let them know when these changes will take place and the next nearest branch they can use..
The branches affected are:
- Aylsham Road
- Downham Market
- Market Deeping
- North Walsham
- Plumstead Road
We recognise that any branch closures are disappointing to our customers and we have not taken any such decisions lightly. Whilst we remain committed to offering face-to-face service, the branch closures reflect the changing ways in which our customers manage their money with us and 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 to explain what they need to do next 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.