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Nationwide axes Cheshire, Derbyshire and Dunfermline brands

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
03/05/2013

Nationwide Building Society is to rebrand the three other mutual organisations it merged with during the financial crisis.

The country’s biggest society took control of Cheshire and Derbyshire building societies in 2008 and then the Dunfermline in 2009 after the trio suffered heavy losses and the latter faced problems with toxic assets.

This will begin with the conversion of the Dunfermline in spring 2014, followed by Cheshire in autumn 2014 and Derbyshire in winter 2014. The process is expected to be complete by mid-2015.

The lender has outlined plans to convert around half of the 91 outlets to the Nationwide brand and close any that lie close to an existing branch.

None of the three regional brands had lent through intermediary channels since their acquisition by Nationwide.

Around 1m people are currently Cheshire, Derbyshire and Dunfermline customers and will be transferred to Nationwide’s system and given access to its full range of products.

Around 500 employees will be affected by the move.

Tony Prestedge, Nationwide chief operating officer, said: “Having made considerable improvements to our range of products and services, the only way we can ensure all our members benefit is to take this logical step to integrate our businesses under one unified, strong, and nationally recognisable brand.”


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