Norwich & Peterborough Building Society: brand scrapped and 28 branches to close

Yorkshire Building Society is doing away with the Norwich and Peterborough brand and closing 28 of its branches.

Yorkshire Building Society (YBS) is set to scrap the Norwich & Peterborough (N&P) brand and close 28 of its branches in 2017.

Customers with N&P accounts are being advised to find a different bank or building society.

They'll be contacted and told what their options are before their accounts close on August 31, 2017.

20 YBS branches are also set to close. A whopping 440 jobs are at risk as a result of the restructure.

Mike Regnier, chief executive of YBS, said:

"We continually review all areas of the business to ensure we remain focused on what our members require while utilising their money as effectively as possible."

"The driving forces behind the proposed branch closures are shifts in market conditions and an increasing desire among customers to transact digitally rather than on the High Street.”

Here's a quick rundown of the affected branches:

Norwich & Peterborough Building Society branches affected by the proposals
Aylsham Road, Norwich.	Market Place, North Walsham.
North Street, Bourne, Lincolnshire.	Market Place, Oundle.
Bowthorpe Main Centre, Wendene, Norwich.	Plumstead Road, Norwich.
Bretton Centre, Bretton, Peterborough.	High Street, Sawston.
Market Place, Bungay.	High Street, Sheringham.
St Andrews Street, Cambridge.	Market Place, Southwold.
St Stephens Arcade, Chapelfield, Norwich.	Sheep Market, Spalding.
High Street, Dereham.	High Street, Stamford.
Wales Court, Downham Market.	King Street, Thetford.
Bridge Street, Fakenham.	High Street, Watton, Thetford.
High Street, Huntingdon.	Skaters Way, Werrington, Peterborough.
High Street, Leiston, Suffolk.	Market Place, Whittlesey.
Broad Street, March.	Station Road, Hoveton, Wroxham.
Market Place, Market Deeping.	Market Place, Wymondham.

Yorkshire Building Society branches affected by the proposals
Market Street, Abergele	Huddersfield Road, Mirfield.
Bondgate Within, Alnwick.	Agincourt Square, Monmouth.
Victoria Road West, Cleveleys.	Bank Street, Newquay.
Brighton Road, Coulsdon.	George Street, Oban.
High Street, Cowbridge.	High Street, Paisley.
Argyll Street, Dunoon.	High Street, Prestatyn.
London Road, East Grinstead.	Selsdon Parade, Addington Road, Selsdon.
Town Street, Farsley.	Wakefield Road, Waterloo, Huddersfield.
Lewisham High Street, Lewisham.	Crescent Road, Windermere.
Church Street, Llangefni.	Towngate, Wyke, Bradford.

Source: YBS

A bit of background

YBS merged with Norwich & Peterborough in 2011 after the latter accumulated a £51 million compensation bill.

The building society was found to have mis-sold 3,300 high-risk investment policies to its customers on behalf of now defunct investment firm Keydata.

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