Barnsley Building Society Rescue
Published / Last Updated on 22/10/2008
Barnsley Building Society Rescue
Following potential losses of Barnsley deposit investment with Icelandic Banks, they have moved quickly to approach and agree a merger deal with Yorkshire Building Society.
The losses are reported to be around £10m and whilst the Barnsley claim it had enough assets to cover these losses, it would appear prudent that they have looked to merge to ensure all ongoing investors are secure in a combined bigger and stronger group.
Care needs to be taken to ensure that if you have investments in both groups, you consider moving your fund to another institution.
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