Norwich and Peterborough urges members to vote for Yorkshire merger
Norwich & Peterborough building society (N&P) customers will see branches closed and the product range shrink if they vote against the society's merger with the Yorkshire Building Society, its chief executive has warned.
Speaking as its customers began to receive voting packs, N&P's chief executive Anne Gunther said a merger with the bigger society was the only way to make sure customers could continue to receive their normal services.
An article in The Guardian quotes Ms Gunther saying: "If members vote against, it will inevitably mean significant cost-cutting and branch closures."
The N&P has 46 branches, mainly in East Anglia.
It has sent 240,000 voting packs to its members and for the merger to go ahead, 75% of savings members must be in favour and 50% of voting borrower members. Votes must be returned by August 17 or at the special general meeting on August 22.
July 15, 2011
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
