Halifax Building Society address

Halifax (bank)

In 1928, it merged with Halifax Equitable Building Society, then the second largest building society and was renamed Halifax Building Society. The society was now five times larger than its nearest rival, with assets of £47 million.

A new head office was built at Trinity Road, Halifax in 1973. The distinctive diamond-shaped building was used on marketing material during the 1980s and '90s. Underneath the building is a specially constructed deedstore which is used to store property deeds for a one off charge of £10. It is computerised and could originally be filled with Halon gas in the event of fire, though in the light of the environmental effects of this gas if released, it may have been replaced with other fire retardant systems. Its importance has diminished in recent years because property data is now kept on a central database kept by HM Land Registry.

The society continued to grow in size throughout the 20th century, remaining the UK's largest building society. The deregulation of the financial services industry in the 1980s saw the passing of the Building Societies Act 1986 which allowed societies greater financial freedoms, and diversification into other markets. Accordingly, the Halifax acquired an estate agent to complement its mortgage business. It also expanded by offering current accounts and credit cards, traditionally services offered by commercial banks.

Demutualisation[edit]

The 1986 Act also allowed building societies to demutualise and become public limited companies instead of mutually owned organisations, owned by the customers who borrowed and saved with the society. Although the Abbey National demutualised in 1989, the process was not repeated until the late 1990s, when most of the large societies announced demutalisation plans. In 1995, the Halifax announced it was to merge with the Leeds Permanent Building Society and convert to a plc. The Halifax floated on the London Stock Exchange on 2 June 1997. Over 7.5 million customers of the Society became shareholders of the new bank, the largest extension of shareholders in UK history.

As Halifax plc, the new bank was the fifth largest in the UK in terms of market capitalisation. Further expansion took place with the 1996 acquisition of Clerical Medical Fund Managers, a UK life insurance company. In 1999, the Halifax acquired the Birmingham Midshires Building Society and ComparetheLoan. In 2000, Halifax established Intelligent Finance, a telephone and internet based bank.

Resources
  • https://standmixer-ratgeber.org/vitamix/tnc-5200/

It's Interesting

  • The Royal Bank of Canada (RBC; French: Banque Royale du Canada) or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees...
EIGHTY YEARS OF HOME BUILDING - THE HALIFAX PLAN. THE ROMANTIC HISTORY OF THE HALIFAX BUILDING SOCIETY AND A RECORD OF THE SERVICES OF ITS TWO GENERAL MANAGERS DURING EIGHTY-FOUR YEARS
Book (Halifax Building Society)

Related Posts