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Make your money work hard for you, advises expert

May 29, 2008 by admin  
Filed under News, News-Banking

1 Comment

Newcastle Building Society has urged consumers to ensure that “their money is working as hard as possible for them”.

Steve Urwin, senior marketing executive at the building society, said that savers should be particularly cautious with their money under the current credit crunch and that they should make sure they are getting the best possible interest rates.

He noted that building societies offer their customers a number of benefits: “As a mutual building society, the majority of our funding comes from our customers and we are, therefore, much less reliant on the wholesale funding markets.”

People are increasingly turning to building societies, according to recent reports which reveal that the number of deposits with such organisations reached a record high last September.

The most popular products were savings accounts and cash Isas, which saw demand go up by almost a fifth.

Mr Urwin said that building societies have “numerous measures in place to guarantee safety” for people’s money.

Tags: Newcastle Building Society, Steve Urwin, Cooperatives, money, last september

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Comments

One Response to “Make your money work hard for you, advises expert”
  1. Yorkshireman says:
    May 26, 2009 at 10:41 pm

    It’s time banks went back to providing banking services – I don’t want car insurance, mobile phone top ups, holiday offers or anything other than a customer oriented bank. I hand over money, they keep it safe in their cellar, lend a bit to other people, on the basis that I won;t want it all out at any time, and provide me a service to pay bills by standing order, or direct debit, and honour my cheques, and obey my instructions, against my signature.

    What is difficult about that?

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