Saturday October 31, 2020

Irish Nationwide windfalls ‘‘could drop’’

Irish Nationwide members could see their demutualisation bonus drop by as much as 70 per cent, a dissident member of the society has claimed.

17th June, 2006

This follows a recent dispute between the building society and the Financial Ombudsman. Speaking after the publication of new building society legislation last week, which paves the way for the sale of Nationwide when it demutualises, Brendan Burgess warned members that their payouts could fall from €15,000 to around €5,000 as a result of the row.

This view is not shared by Irish Nationwide, whose spokeswoman said the recent dispute would not reduce the value...

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