Following an 18 month review of its branch network operations, Newcastle Building Society has announced it will close its branch in Gibraltar on Tuesday 31 October 2017.
The Gibraltar branch will continue to operate and will remain open for existing customers until close of business on 31 October. We are not accepting new accounts.
We will be writing to customers individually very soon to explain what this means to them/their accounts and what they might need to do next.
For now, customers do not need to do anything. Your money is safe and we will be in touch with more details.
If you would like further information in the meantime, existing customers can call our dedicated customer service line on 00350 20043722, or speak to our Gibraltar branch staff.
Below are answers to some of the more immediate questions you might have as a customer:
Why are you closing the Gibraltar branch?
The Society is making changes to its branch network as it strengthens its focus on its heartland region which incorporates the North East of England and parts of Cumbria.
This follows an 18 month review of our whole branch network. The changes we're making are in line with our strategy to focus on our heartland area incorporating the North East of England and parts of Cumbria.
What do I need to do?
Nothing for now, we will be in touch with customers individually over the next few weeks to inform them of next steps. We have a dedicated customer service line on 00350 20043722 for queries.
Is my money still safe?
Newcastle Building Society is the 8th largest building society in the UK, and with assets in excess of £3.6bn is financially sound.
Is my money still protected by the Financial Service Compensation Scheme?
As previously all your eligible deposits with Newcastle Building Society are protected up to a total of £85,000 for sole accounts and £170,000 for joint accounts.
Any deposits protected by the Financial Services Compensation Scheme you hold above these limits are not covered