Building Societies : An Integral Part Of Uk Financial Services

The Halifax was the largest building society and was the leading mortgage and saving company with a 22 per cent share of mortgages and 16 per cent of retail savings in UK. The Halifax over-relied on mortgage and savings while the mortgage market in particular during that time was becoming more and more competitive. The Halifax had been offered a unique opportunity to transform itself from specialising in mortgage and savings only into a broad based commercial bank, particularly in the corporate area by the Bank of Scotland. HBOS was then formed by the 2001 merger of Halifax plc and the Bank of Scotland. It was established as one of big four UK retail banks and also the largest mortgage lender in UK. However, HBOS now is a banking and

The banking industry has over the years evolved from simple to large and complex organization. They have grown from one street building into having multiple branches some of which are international. Their clients range from individual and institutions to governments and other banks. Banks do not manufacture physical things. Their work is simply services for money (Koch & MacDonald 2010). Such services include storing, lending and managing money. All people and institutions, as well as governments, need money to operate accordingly.

Banks are institutions in which people put their money for safekeeping, to save, to use to pay their bills, or to earn interest on. Banks are allowed to use that money to make loans and earn interest for the bank's’ owners. Different types of banks offer different types of services. For example, commercial banks originally just served businesses, and savings banks and credit unions were used by individuals, especially those who couldn’t qualify for loans at regular banks. This is no longer the case. Although commercial banks and thrift institutions used to serve different purposes, today they all offer many of the same types of services including bank accounts, loans, credit, certificates of deposits (CDs), and much more.

The bank represents capitalism because it prioritizes profit.

In contrast to banks, which are usually owned by shareholders, credit unions are owned by the members of that credit union. Because shareholders do not own them, credit unions do not have to implement large fees to make a profit, much like banks often do. Whereas banks mainly focus on profit, credit unions are non-profit; therefore, it is the members of the credit union who make money off of investments. This allows credit unions to place higher value on customer service and satisfaction than on making a profit. Consequently, credit union loans can offer lower interest rates on loans, credit cards with lower annual percentage rates, and lower fees than banks can.

A credit union is a not-for-profit, cooperative financial institution that is owned and controlled by its members. Credit unions serve people that share something in common such as an employer or place of worship. Credit unions allow members to pool their savings, lend to one another, and have a voice in the governance in the organization. This aspect of credit unions is particularly appealing given the increasing alienation many consumers are feeling from mega banks.

Andrew Bailey (2013) “The future of UK banking - challenges ahead for promoting a stable sector”. Bank of England [online]. Available from:

On July 2ed, former traders of Barclays are accused of manipulating the Libor interest, the standard rate of the interest for loans between financial institutions, to meet their own derivatives potions and make huge private profits. Their dishonest actions disrespected the customer’s rights and damaged the freedom of market. They behaved disloyally to the financial industry and failed to follow their moral values.

When my father decided to start his own construction business he explained to me he preferred to use a community bank over a large corporate bank because he was able to go in and talk face to face with the person who will be making financial decisions. My dad was not just a social security number, nor was he a nameless face. Due to the relationship and trust built, the community bank was able to connect his name and face with his business, helping him open several small businesses and obtain many investment property loans. These decisions are also made locally and personally, not solely based on what a piece of paper says. The community bank offers individuals, like my dad, a chance to better themselves because it sees people going to work and working

Lending institutions have been around since the late 1700’s. Banks are establishments that are authorized by the government to accept deposits, pay interest on deposits, clear checks, make loans, act as an intermediary in financial transactions and provide other financial services to customers.

Letting agencies can currently charge tenants whatever price they want to on top of the money they already receive from landlords. The letting agency fees are unmanageable and people are constantly being taken advantage of. The expense of renting is enough without these additional, unwarranted fees creeping up on tenants when you it is too late to cancel the agreement. Sitting back and watching this happen is not an option. It is about time tenants stop over-paying for poor conditions and receive a fair agreement. This is why we (ROOHF), are taking action in order to dramatically reduce unfair letting fees. Together we can make renting less prohibitive and more affordable. You deserve better!

In this section, there are two different case studies which is Lloyds Bank Group and the Deloitte. These two cases indicated that how the companies have been confronting the gender issues, while carrying the employee selection function and to what extent the female has been successful in ensuring the desired objectivity.

= = = The British banking industry has come under extreme scrutiny over recent years and it is likely to continue during the foreseeable future. The perceived anti-competitive nature is as a result of

The CBA is Australia’s largest retail bank and offers clients a choice of goods and services.

Banks: Commercial banking services: It is commonly referred as 'Bank '. A commercial bank distinguishes itself from investment bank, which is a financial service which doesn 't lend money to the business directly, but instead helps businesses raise money from other firms in the form of stocks or bonds.