West Bromwich Building Society Debt Deal
Published / Last Updated on 11/06/2009
West Bromwich Building Society Debt Deal
Large, provincial building society, the West Bromwich Building Society, is having talks with creditors in bid to secure its independent financial future.
Given current market difficulties and strains on many financial companies, the West Brom is looking at its options with a view to remaining as an independent mutual society owned by members rather that being forced to merge with other societies or banks or indeed have parts of the business sold off.
This is not a question of financial risk for investors i.e. there is no change to investor or mortgage borrower accounts; it is merely a prudential move by West Brom to safeguard jobs and futures.
The West Brom employs nearly 900 staff in 46 branches and is the UK’s eight largest mutual Building Society.
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