Coventry Building Society

Money, investing, mutuals etc

Coventry Building Society

Postby gav » Sat Oct 07, 2017 1:57 pm

Coventry is now the second largest building society.

The 30/6/17 interim accounts show Yorkshire Building Society's assets are £39,836m and Coventry are £39,994m.

Interesting how YBS has slipped :wave: Has it got its strategy right? Bad press over closure of N&P current accounts; closure of N&P branches; bizarre situation with Chelsea Building Society whereby all the branches have now gone but it still exists as an online-only branch; a ticking off a while ago from the regulator about YBS mortgages. Some expensive mistakes?
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Re: Coventry Building Society

Postby Constantine » Sat Oct 07, 2017 4:23 pm

Why yes.

Loans and advances to customers have hardly increased at all at YBS, whilst CBS has whacked on another 3 billion. But perhaps YBS is being cautious? Lending money is the easy bit. Getting it back can be the hard bit. :)
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Re: Coventry Building Society

Postby Boro Boy » Sat Oct 07, 2017 4:38 pm

Constantine wrote:Why yes.

Loans and advances to customers have hardly increased at all at YBS, whilst CBS has whacked on another 3 billion. But perhaps YBS is being cautious? Lending money is the easy bit. Getting it back can be the hard bit. :)


I believe (and I'm sure some others may agree) that service is king. If you're not looking for the best rates (not the worse either) and believe in high levels of personal service with branches open at very convenient times then investigate the Metro Bank. There are few organisations I would recommend but iMutual & Metro Bank are two... :thumbup:
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Re: Coventry Building Society

Postby Constantine » Sun Oct 08, 2017 7:16 pm

Boro Boy wrote:
I believe (and I'm sure some others may agree) that service is king. If you're not looking for the best rates (not the worse either) and believe in high levels of personal service with branches open at very convenient times then investigate the Metro Bank. There are few organisations I would recommend but iMutual & Metro Bank are two... :thumbup:


Depends on what kind of service you want.

Metro's interest rates ain't up to much. And I ain't interested in bank branches.

Cash is king.:)
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Re: Coventry Building Society

Postby Boro Boy » Sun Oct 08, 2017 11:34 pm

Constantine wrote:
Boro Boy wrote:
I believe (and I'm sure some others may agree) that service is king. If you're not looking for the best rates (not the worse either) and believe in high levels of personal service with branches open at very convenient times then investigate the Metro Bank. There are few organisations I would recommend but iMutual & Metro Bank are two... :thumbup:


Depends on what kind of service you want.

Metro's interest rates ain't up to much. And I ain't interested in bank branches.

Cash is king.:)



How much £££cash£££ do you walk around with...? I don't think I know anyone who hasn't got a requirement for some form of financial institution... :o
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Re: Coventry Building Society

Postby pabenny » Mon Oct 09, 2017 6:39 am

Back on topic, who cares whether Coventry or Yorkshire is the largest? Scale alone tells us nothing about efficiency (in this context cost:income ratio), profitability or service.
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Re: Coventry Building Society

Postby Constantine » Mon Oct 09, 2017 9:02 am

Boro Boy wrote:
Constantine wrote:
Boro Boy wrote:
I believe (and I'm sure some others may agree) that service is king. If you're not looking for the best rates (not the worse either) and believe in high levels of personal service with branches open at very convenient times then investigate the Metro Bank. There are few organisations I would recommend but iMutual & Metro Bank are two... :thumbup:


Depends on what kind of service you want.

Metro's interest rates ain't up to much. And I ain't interested in bank branches.

Cash is king.:)



How much £££cash£££ do you walk around with...? I don't think I know anyone who hasn't got a requirement for some form of financial institution... :o


About a tenner. Most of my cash is deposited with banks or building societies.:)
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Re: Coventry Building Society

Postby Constantine » Mon Oct 09, 2017 9:05 am

pabenny wrote:Back on topic, who cares whether Coventry or Yorkshire is the largest? Scale alone tells us nothing about efficiency (in this context cost:income ratio), profitability or service.


Dunno. Perhaps it gives them bragging rights at the BSA conference?
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Re: Coventry Building Society

Postby planteria » Tue Oct 10, 2017 8:58 am

it probably does.. but it makes little difference to us, the members.
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Re: Coventry Building Society

Postby Constantine » Tue Oct 10, 2017 6:31 pm

planteria wrote:it probably does.. but it makes little difference to us, the members.


Depends.

I would say that a building society that was growing its loan book, would need to be able to fund that lending, and might therefore offer more attractive interest rates to get more deposits.
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