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your money: Protect and save.. BUILDING SOCIETIES.

Byline: Edited by CLINTON MANNING

GOOD news if you have savings with more than one building society.

If your societies merge the first pounds 50,000 in both accounts will be fully protected, the watchdog Financial Ser vices Authority said yesterday.

This protects 731,000 savers with the Cheshire and Derbyshire, being taken over by the Nationwide, and 60,000 with the Barnsley, to be part of the Yorkshire.

The FSA protection will last until next September to allow for a review. It is under pressure to raise its pounds 30,000 compo limit for all other investments.
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Title Annotation:Business
Publication:The Mirror (London, England)
Date:Nov 28, 2008
Words:98
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