Nationwide takes over Dunfermline

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Nationwide Building Society has bought core parts of the 140-year old institution, snapping up its retail and wholesale deposits, branches, head office and most of its residential mortgage book.

The deal, which follows a sale process led by the Bank over the weekend, will see around 530 of Dunfermline's staff transferred over to Nationwide.

The Bank of England stressed it was "business as usual for all customers" and that all saver deposits were safe.

Speaking minutes before the Nationwide deal was announced, Dunfermline chairman Jim Faulds said he "warmly welcomed" their involvement but was "deeply disappointed" that the Government did not provide the support needed for the building society to continue as an independent operation.

Mr Faulds told BBC Radio 4's Today programme that Nationwide was "a first-class operation" by which existing Dunfermline members would be "well served".

He added: "I am hearing encouraging noises - yet to be confirmed - that Nationwide will do all they can to keep as much employment as they can in Scotland."

Mr Faulds added: "I and my board have worked tirelessly to protect the members and the staff and we have no reason to feel bad about this. We are deeply disappointed with the Government's decision. It was unnecessary. But nevertheless we need to move on and we need to work with the new owners."

The Dunfermline's commercial book was performing "reasonably well" and the building society could have been saved if it was given access to around £20-30 million from the Government's liquidity scheme, said Mr Faulds.

"This was an unnecessary move by the Treasury," he said. "They clearly didn't want to take the risk. We could have had an independent, sustainable future.