About Vernon Building Society
The Vernon Building Society was founded in 1924 in
Stockport, Cheshire, they are an independent, mutual building society. The
demise of the Cheshire Building Society (which has now been taken over by the Nationwide Building Society) leaves the Vernon as the only independent local
building society within its operational area. They are members of the building
societies association and are regulated by the FSA.
Vernon Building Society Information
Head Office – Vernon Building Society, 19 St Petersgate,
Stockport, SK1 1HF. Tel: 0161 429 6262
Branch Offices –
190 London Road, Hazel Grove,
Stockport, SK7 4DQ
1 The Ridgedale Centre, Hollins
Lane, Stockport, SK6 6AW
4 Gorton Road, Reddish,
Stockport, SK5 6AE
141/143 Castle Street, Edgeley,
Stockport, SK3 9AR7
87 Park Lane, Poynton,
Stockport, SK12 1RD
12b Woodford Road, Bramhall, Stockport, SK7 1JJ
Savings Accounts – Savings Accounts include Instant
Access, Tax Free Cash ISA’s, Notice Accounts, 50+ Savings, Regular Savings,
Fixed Rate Bonds, Children’s Savings Accounts and accounts for business and
charities, clubs and associations.
Mortgage Accounts - Discount Mortgages, Buy to Let,
Commercial Mortgages, Offset Mortgages, First Time Buyer Mortgages, Fixed Rate
Mortgages and Flexible Mortgages.
Insurance – Buildings & Contents Insurance, Travel
Insurance, Mortgage Protection, Family Life Insurance and Funeral Protection
Insurance.
Other Services – Financial Planning & Travel Money.
Financial Results Year Ended 31/12/2010
For the year they made a profit after tax of £932,000
(£497,000).
Mortgage Lending – During 2010 the Society advanced
£28.8 million (2009: £15.5 million). The total number of mortgages completed
was 228 (2009: 123). At 31 December 2010 there were no cases where repayments
were 12 months or more in arrears.
Savings – During the year they have continued to
deliver consistent long term value to their members. There has been huge
competition for savers’ deposits within the sector and many of their
competitors have sought to win savers’ funds by pricing products for new investors
at high rates (which are either subsequently lowered or clawed back through
penalty conditions) and by reducing the rates paid on existing savers’ accounts
to paltry levels. The Vernon has resisted this trend by offering fair rates
across the board to all savers.
Vernon Building Society Directors
Executive Directors – M J Hanson and A Entwisle.
Non Executive Directors –J M Longworth, D Bailey, S G
Spilsbury, P C Okell and A Murdoch.
Membership Numbers – The Tipton & Coseley Building
Society has 2,572 borrowing members and
32,699 investing (saving) members.
Other information – website thevernon.co.uk.
