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- 'Over a million' building society accounts opened in 2008 - 2nd March, 2009
It has been claimed that building society savings accounts in the UK are still proving popular, despite low interest rates.
Adrian Coles, director general of the Building Societies Association (BSA), says that 1.2 million new accounts were opened over the last 12 months, even though the incentive to save has been reduced by low rates... - Skipton Building Society raises savings rates - 27th February, 2009
Skipton Building Society has announced that it will increase the rate of interest offered on some of its savings accounts, despite the recent falls in the Bank of England's base rate.
Two of the building society's savings accounts, the Online Access Account and the Online Individual Savings Account (ISA) will both benefit from a 0.25 per cent increase in interest rates... - Royal Bank of Scotland posts largest ever losses - 26th February, 2009
The Royal Bank of Scotland Group (RBS) has revealed that last year it made the largest loss ever posted by a UK company.
Its figures show that it lost some £7.8 billion through trading and £16.8 billion through paying too much for acquisitions, including the disastrous merger with the dutch bank ABN Amro.
The group, which includes NatWest, is already 70 per cent owned by the taxpayer and claims it will need to sell £19.5 billion of new shares to UK taxpayers in order to sure up some of its worst assets.
Derek Simpson, the leader of the trade union Unite, said: "The whole country is paying the price through job cuts and repossessions on a massive scale. It is time to take control and fully nationalise this bank."
He also criticised the "reckless" behaviour of RBS' former management team... - Leeds Building Society announces "strong" results - 26th February, 2009
Leeds Building Society has published its figures for the previous year, which it claims show that it is in a strong position despite the recent crisis which is currently affecting many financial institutions.
The mortgages and savings account provider revealed that it made a pre-tax profit of £20.3 million and that its total assets had grown by more than £900 million and now total £10.1 billion... - NS&I: Saving is like growing fruit - 25th February, 2009
National Savings and Investments (NS&I) has announced that it will be sponsoring the Royal Horticultural Society's Grow Your Own campaign, as growing fruit and vegetables requires similar disciplines to saving.
The savings account provider conducted a survey which revealed that 90 per cent of people believe that growing your own fruit and vegetables is similar to putting money aside in savings accounts.
Of those polled, 92 per cent said that both disciplines require patience and regular effort to reap the benefits... - Savers 'should still choose ISAs' - 25th February, 2009
A finance expert has claimed that savers should "not give up on" individual savings accounts (ISAs) because of falling interest rates.
According to moneysupermarket.com, savers who have used their full cash ISA tax-free savings allowance in each of the past ten years will be £2,700 better off than basic rate taxpayers who have saved the same amount outside an ISA.
The website calculated that those who fall into the higher tax bracket would be £4,800 better off for having used an ISA for ten years... - Adult children 'sponge savings off parents' - 25th February, 2009
Adult children are continuing to deplete their parents' savings despite the ongoing economic downturn, according to research conducted by Scottish Widows.
The pension provider found that more than half of parents with grown-up children have given or loaned their children a "substantial" sum of money - averaging £11,776- an amount which has increased by eight per cent since last year... - Chelsea Building Society's ISAs 'improved' - 24th February, 2009
Chelsea Building Society has announced a range of "improvements" to its individual savings accounts (ISAs), which it claims will make them more competitive.
The building society's Postal 30 Cash ISA now pays interest at a rate of three per cent for balances of over £6,000 and 2.6 per cent for balances under this figure... - Consumers 'not making annual ISA rush' - 24th February, 2009
Research by the Co-operative Bank has revealed that an increasing number of consumers will not be rushing to take advantage of their tax-free savings allowance this year by putting money into individual savings accounts (ISA) before April 5th.
According to the bank there is usually a rush to open ISAs at this time of year, so as to deposit savings before the deadline... - Chelsea savings account offers Christmas prize draw - 24th February, 2009
Christmas may have just passed but Chelsea Building Society is already encouraging customers to look ahead and start saving for next year, with a special Christmas offer on its savings accounts.
The building society announced that all savings account customers who have an account open as of November 21st will be automatically opened in Chelsea's Christmas prize draw...