Holmesdale BS to merge with Skipton BS

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patientperson
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Holmesdale BS to merge with Skipton BS

Post by patientperson » Thu Mar 01, 2018 10:51 am

Letter received this morning.

Another minnow to bite the dust.

Voting in July's Holmsdale AGM .. merger expected in October 2018.

No further details in the letter.

Interested parties can phone 0800 0499 946 or emali merger@the holmesdale.co.uk

https://www.theholmesdale.co.uk/proposed-merger/

NO BONUS payable

planteria
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Re: Holmesdale BS to merge with Skipton BS

Post by planteria » Sat Mar 03, 2018 8:14 am

the 'merger' is more of a 'rescue'. the Holmesdale board have made a mess of things, and there is a distinct whiff around the place..

i assume that the people of Reigate will have a Skipton branch in their home town, rather than the closest being Dorking. how long it might last for though..

the merger will almost certainly go ahead, but i'll be voting against. a token gesture 'merger bonus' sweetener for long-term members ought to be possible from the reserves.

there is some 'action' discussed elsewhere that you might be interested in pp.
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planteria
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Re: Holmesdale BS to merge with Skipton BS

Post by planteria » Sun Mar 04, 2018 9:19 pm


patientperson
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Re: Holmesdale BS to merge with Skipton BS

Post by patientperson » Mon Mar 05, 2018 8:58 am

Hi planteria.

I agree fully with your comments regarding the so called merger.

It is just a complete give away of £13.5 million in reserves to Skipton BS .. now that BS is a real carpetbagger.

The following is an extract from the Holmesdale statement:

Savings and borrowing rates for members of the Holmesdale are expected to improve or remain unchanged, but will not worsen as a result of the merger.

One need only look at the savings interest rates at the Skipton BS website to reveal a very unattractive range on offer.
Skipton BS do not have any regular saver accounts so we can assume that savers will lose out when their Holmesdale RS come to an end.

Skipton BS have offered nothing at all .. the BS already has a presence in that area.

Value for the members? .. not in my view at all.
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Re: Holmesdale BS to merge with Skipton BS

Post by Sarah » Sat Mar 10, 2018 9:03 am

It will be interesting to see how long Skipton end up keeping hold of Holmesdale's oversized premises at the unfashionable end of Reigate's high street. If I were a member, my only reason to visit would probably be to close accounts. The clock's surely ticking.

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Re: Holmesdale BS to merge with Skipton BS

Post by planteria » Sun Mar 11, 2018 5:37 pm

is the whole society run from the single site Sarah?
the public area is only small, but is there a lot of space above?

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Re: Holmesdale BS to merge with Skipton BS

Post by Sarah » Mon Mar 12, 2018 5:25 pm

It does seem to be run from a single location, which is double width for a shop unit, as well as any back-office space.

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Re: Holmesdale BS to merge with Skipton BS

Post by planteria » Thu Mar 15, 2018 6:53 pm

got you.. i've been in there, and recall it to be dark and fairly miserable.

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Re: Holmesdale BS to merge with Skipton BS

Post by planteria » Tue Jun 19, 2018 1:38 pm

AGM pack received today, which includes the Shareholding Members’ Resolution re merger win Skipton Building Society.
It reads a little bit like a government scaremonger document... for Emergency Budget with reduced State Pensions if we dare to vote Brexit read “interest rates paid to savers would decrease” if we dare vote to remain independent.

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Re: Holmesdale BS to merge with Skipton BS

Post by Boro Boy » Tue Jun 19, 2018 1:45 pm

planteria wrote:AGM pack received today, which includes the Shareholding Members’ Resolution re merger win Skipton Building Society.
It reads a little bit like a government scaremonger document... for Emergency Budget with reduced State Pensions if we dare to vote Brexit read “interest rates paid to savers would decrease” if we dare vote to remain independent.

...and they will go on and on afterwards that they knew best and that you are all idiots for choosing the wrong decision to remain independent; then they will try and force a new vote so you can "get it right" next time, no doubt! :think:

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