Company type | Building Society (Mutual) |
---|---|
Industry | Banking Financial services |
Founded | 1855 |
Fate | Taken over by the Skipton Building Society in 2018 |
Headquarters | , |
Number of locations | 1 [1] |
Key people | Joanne Hindle (Chairman); Dean Fensome (Chief Executive); Mike McDermott (Secretary) |
Products | Savings and Mortgages |
Total assets | £184 million GBP (March 2018) |
Members | 7,443 (March 2017) [2] |
Website | theholmesdale |
The Holmesdale Building Society was a single-branch UK building society based in Reigate, Surrey.
It ceased to exist on 1 October 2018, taken over by the much larger Skipton Building Society, and the Reigate branch became a branch of the Skipton.
It was a member of the Building Societies Association. The society had been in existence since 1855, making it one of the UK's longest established Building Societies. Over much of its history the members were mainly local people, but in later years it had members in many parts of the country.
Founded by Thomas Buckland, one of Reigate's most progressive 19th century entrepreneurs, the Holmesdale was controlled by the Buckland family until David W. Buckland retired from the post of Chief Executive in the late 1970s.
Because the Society was formed before 1874 it was an unincorporated Building Society until the 1950s when it eventually became an incorporated Building Society.
A building society is a financial institution owned by its members as a mutual organization, which offers banking and related financial services, especially savings and mortgage lending. They exist in the United Kingdom, Australia and New Zealand, and formerly in Ireland and several Commonwealth countries, including South Africa as mutual banks. They are similar to credit unions, but rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Great Britain from cooperative savings groups.
Reigate and Banstead is a local government district with borough status in Surrey, England. Its council is based in Reigate and the borough also includes the towns of Banstead, Horley and Redhill. Parts of the borough are within the Surrey Hills, a designated Area of Outstanding Natural Beauty. Northern parts of the borough, including Banstead, lie inside the M25 motorway which encircles London.
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Kingswood or Kingswood with Burgh Heath is a residential area on the North Downs in the borough of Reigate and Banstead in Surrey, England. Part of the London commuter belt, Kingswood is just to the east of the A217 separating it from Tadworth and has a railway station. Burgh Heath in its north is combined with it to form a ward. Reigate is 3.6 miles (5.8 km) south of its centre and London is 15.5 miles (24.9 km) to the north northeast. Kingswood with Burgh Heath had a population of 6,891 in 2011.
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