Airdrie Savings Bank

Money, investing, mutuals etc
patientperson
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Airdrie Savings Bank

Post by patientperson » Fri Jan 27, 2017 10:45 am

Another one to bite the dust.

https://airdriesavingsbank.com/get-in-t ... formation/

Notification received that the Airdrie SB will be closing branches and wound down with the final closure of the Airdrie Head Office/branch to be advised but expected to be in 2017.

The Airdrie resisted the TSB approach years ago.

They claim that they are still financially strong but do not disclose where their assets will go when the doors are finally closed.

This Bank is run by Trustees so is quite unusual in this day and age
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planteria
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Re: Airdrie Savings Bank

Post by planteria » Fri Jan 27, 2017 11:14 am

thank you for sharing here pp.
i would have thought there would be some value in the banking licence.. new entrants were keen to snaffle an organisation which had one in place not so long ago. seems a real shame to see it wound up, with just credit being passed to TSB :think:.
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Pandora
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Re: Airdrie Savings Bank

Post by Pandora » Sat Jan 28, 2017 10:18 am

The BBC reported the news on the 18th
http://www.bbc.co.uk/news/uk-scotland-s ... s-38669275

The loan book will be going to TSB; the depositors will get their money back.

From the available info, it looks like they were losing money. A small bank with £140m worth of deposits needs to lend more than £55m to survive.
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Re: Airdrie Savings Bank

Post by patientperson » Sat Jan 28, 2017 1:04 pm

Pandora. Thanks for that link. Interesting story.

As you stated ..the BBC date was the 18th .. I was away till the 24th so then saw it in my post.

The Airdrie Head Office picture is impressive. Surely that must be worth something if it is owned by ASB.

As the Bank is run by Trustees the customers are not really members in the same way as the Building Society model.
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planteria
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Re: Airdrie Savings Bank

Post by planteria » Sat Jan 28, 2017 4:37 pm

agreed re. the head office building..

so from "in my post" i take it you are an ASB customer :angel:
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Re: Airdrie Savings Bank

Post by patientperson » Sat Jan 28, 2017 4:44 pm

planteria wrote:agreed re. the head office building..

so from "in my post" i take it you are an ASB customer :angel:
Indeed I am .. in a very small way .. just in case. :thumbup:
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Re: Airdrie Savings Bank

Post by planteria » Sun Jan 29, 2017 8:11 am

i see.. that's commitment to the bagging cause :geek: :mrgreen:
it's a shame to see it go.
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