News
March 2008
CATHOLIC BUILDING SOCIETY APPOINTS NEW CHIEF EXECUTIVE
Catholic Building Society has announced that Ivan Gould has been appointed as Chief Executive of the Society.
Ivan is a Fellow of the IFS School of Finance (formerly the Chartered Institute of Bankers) and holds an MBA from Henley Management College. He has spent the whole of his 25 year career in financial services and property, working for banks, building societies and as a consultant. Former employers include Barclays plc, Lloyds TSB plc, Nationwide and Kent Reliance Building Societies. He has significant operational and business development experience.
Ivan, who is married with two teenage children, said he is “excited by the challenges currently being seen in the financial markets and looking forward to encompassing the values that are embedded within the Society”.
He is also very interested in members views as to how the Society is addressing their needs and would like to hear from any member who might have suggestions as to how this might be improved.
In announcing the appointment, Clare Whittaker, Chairman of Catholic Building Society cited Ivan’s highly relevant and professional experience appropriate for the post of Chief Executive and his total support for Catholic’s ethos, “I look forward greatly to working with Ivan. I have confidence in him and I know he will be successful.”
December 2007
SAVINGS INTEREST RATE RISE
Catholic Building Society has increased the interest rates on a number of savings and investment products with effect of 2 December 2007. See investment rates page for full details.
November 2007
NEW 3 YEAR SAVINGS BOND LAUNCHED
Catholic Building Society has issued a three year variable rate bond, The Westminster Bond – Edition One. The interest rate is currently 6.56% per annum. There is a minimum investment of £5,000 and a maximum of £100,000. Withdrawals of up to 10% of the original investment will be allowed each year. There is a limit of one investment per member and no additions are allowed after the initial capital has been invested. The Bond is strictly a limited offer and can be closed at any time.
5 YEAR DISCOUNTED MORTGAGE PRODUCT LAUNCHED
Catholic Building Society have announced the launch of a new five year discounted mortgage product which is expected to go straight into the ‘Best Buy’ tables.
The current rate is 6.17% which is a discount of 1.6% off of the Society’s standard variable rate of 7.77%. The 1.6% discount applies for five years from completion of the mortgage. The product carries an upfront fee of £690 and there are free legal fees (if using the Society’s solicitors) and a free valuation (up to a maximum property value of £500,000 and refunded on completion) included for both purchases and remortgages. There is a reducing early repayment charge during the life of the discount period starting at 5% of the loan in year 1 and reducing to 1% in year 5.
July 2007
CATHOLIC BUILDING SOCIETY APPOINTS NEW CHIEF EXECUTIVE
Catholic Building Society has announced that John Mace has been appointed as Chief Executive of the Society. Mr Mace took over the role at the beginning of July following the departure of the previous Chief Executive, Jim Gilbourne, to take up another senior role in the financial services industry.
Mr Mace, a Member of the Chartered Institute of Marketing, brings to the Society substantial and varied financial services experience, including nearly 20 years in the mortgage sector as a lender and intermediary and a further 10 years in the insurance sector and as a marketing consultant. John has worked for a number of major financial services organisations including Leeds Permanent and Paddington Building Societies, TSB, Canada Life, Churchill, Open+Direct Insurance and AXA and has been on the management board of several firms.
John, who is married with two teenage children, said he is “excited by the challenge of leading the Society through the next stage of its development as it approaches its 50th year, promoting the benefits of mutuality and expanding the business areas that the Society operates in”.
April 2007
AGM Review
We hosted our forty-seventh Annual General Meeting on 24 April 2007. Thank you to everyone who again showed their support by returning their proxy voting forms and those of you who were able to attend the AGM at Vaughan House to vote in person.
The results were:
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Resolution
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For
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Against
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Abstain
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To receive and adopt the Annual Accounts, Directors’ and Auditors’ Report
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To re-appoint as Auditors, KPMG Audit plc
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To approve the Directors’ Remuneration Report
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To re-elect Richard Shepherd
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To re-elect Stanley Cummings
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To re-elect Colin Passam
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To elect Stephen Bullock
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Member Questionnaire
If you’re already a member of the Society,
please download and complete this short questionnaire
Questionnaire - PDF document 37k
and return it to the Society via our FREEPOST address:
Catholic Building Society, FREEPOST, 7 Strutton Ground, London, SW1P 2YZ
March 2007
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Patsy Hodge
Customer Services Assistant
My name is Patsy Hodge and I am a new member of staff at The Catholic Building Society. I am married with 4 children who keep me very busy; with 2 teenagers still in the household it can be chaotic at times. My hobbies are the usual; gardening and listening to music. I do enjoy going to the gym though I never seem to have enough time to be that dedicated.
My working background is in Customer Service so it is a real pleasure to be working at the Catholic Building Society. The team is great and the members a real pleasure to assist. I look forward to a happy career at the Society.
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December 2006
From the Society, (on the left), Saffron Pingear and Halina Byrne - Saffron judged the children’s fancy dress (centre picture).
James Gilbourne pictured (on the right) with the organiser of the Fayre, Frances Levett - dressed as 'The Nightmare before Christmas'!
The Society was pleased to support the annual Christmas Fayre of St. John and St. Peters R C Church in Melton Mowbray for the second year running. This year, the Society’s staff were on hand to publicize the Society and answer questions. Saffron Pinegar also helped to judge the children’s fancy dress competition, won by Little Miss Muffet and her spider.
The day started with Santa arriving with a pony and trap! The entertainment continued throughout the day, including a Polish Childrens choir and a group of young Irish Dancers. The Society’s Chief Executive, James Gilbourne, drew the winning ticket from 1,300 entrants for the £500 Grand Prize Draw, won by a Mr Finn of Melton Mowbray.
It was a very enjoyable day for all concerned and the event raised over £5,000.
Newsletters
Download a copy of our newsletters in PDF format:
No. 10 March 2007
No. 9 July 2006
No. 8 Jan 2006
No. 7 August 2005
No. 6 March 2005
No. 5 Jan 2005
No. 4 October 2004
No. 3 July 2004
No. 2 February 2004
No 1 June 2003
If required - to view PDF download the free software.
Case Studies
Marian Mission for the Poor
During 2006, Catholic Building Society granted mortgage facilities to the Mission to enable it to purchase and improve a building it had been renting for some years. By owning the property, the mission became entitled to further local support and financial help from other institutions and agencies.
The specialism of the Marian Mission Educational and Family Support Centre is on education, childcare, behaviour, learning and family support. They are driven by the desire to provide appropriate and enriching services, giving disadvantaged individuals opportunities to develop life skills and social independence. These will help them to acquire relevant skills and resources that will enable them to blend in society, achieve their full potentials and subsequently gain meaningful employment.
The activities they offer are:
- Supplementary School on Saturdays aimed at curriculum support for pupils to raise achievement;
- Education for Excluded pupils;
- Literacy and Numeracy support for underachievers;
- Careers awareness project for young people aged 14 – 19 years;
- Positive behaviour management for children and young people with emotional and behavioural difficulties as well as those who are socially excluded;
- After School club.
- Peer Mentoring training for pupils with low self-esteem.
- Poetry workshop sessions for vulnerable children and a Youth
- Health promotion project
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“Our philosophy is grounded in Catholic Principles and the spirit of Ecumenism and Social Inclusion.
We owe a deep gratitude to the Catholic Building Society,
whose support made it possible for us to have a Centre to deliver our apostolate.”
Sr. Maria Chioma Emeagi
(Chairperson)
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The Pulham’s Story
When the Catholic Building Society was founded in 1960, one of our principles was to help those of modest means to buy their own homes.
Among our first customers were Patricia and Michael Pulham. Married in 1960, they spent their first year together on the converted top floor of Mr Pulham’s parents’ house.
He said: “We were expecting our first child and desperate for more space. We had found a house we loved in Bushey, Hertfordshire, but we couldn’t find a lender prepared to mortgage such an old house on such a small salary.”
It had been built in 1886 for only £80, but the Pulhams needed £2,500 to secure the property. After trying several lenders, they were near to giving up.
However, a solicitor advised them that Catholic Building Society were able to lend on ‘acts of faith’, so the Pulhams turned to us as their last hope.
“We were overjoyed when our application was accepted!” the Pulhams told us. Our mortgage offer meant that the newlyweds were able to begin independent living in their two-up, two-down property at the top of the hill on School Lane.
The Pulhams spent their first ten years of marriage and had seven children (three girls and four boys) in their first home. This meant Mr Pulham had to convert another loft – this time, into a third bedroom.
In a decade, their house had doubled its value to £5,000, and this nearly covered the cost of upsizing to a six double-bedroomed house for £6,800. “Our children felt lost in it!” Mrs Pulham remembered.
They now live in a 300-year-old converted tenant farmhouse near Waldron in East Sussex. They said: “We often look back at those happy years in our first home and realise how much we owe to the clear sight and motives of those who set up the Catholic Building Society. Thank you, from both of us, and from our children!”
Mr M and Mrs P Pulham
A Mortgage Case Study
We were recently approached by a prospective borrower, initially to assist with a remortgage. The applicants marriage had broken down and whilst she had been maintaining the mortgage repayments, albeit erratically and with the assistance of the Benefits Agency for sometime, the existing lender was not prepared to assist her in anyway leaving her in an uncomfortable situation.
Her estranged husband wanted to be removed from the mortgage and she was desperate to find a lender who would help her.
Income was made up from several sources including state benefits. Although she wasn’t working at the time, due to the birth of her children, she had every intention of returning to work as a midwife once the children are old enough.
Once the case was assessed, we agreed to the remortgage she was looking for. However, on further discussion the borrower felt she could trade down slightly to reduce her outgoings and make a fresh start in a new property with the kids. The application proceeded and she was able to move into her new property.
This is a typical example of mortgage cases we look for and are able to help. If you know of anyone who is in a similar situation, or even having difficulties for any other reason, then get them to contact the Society. We may just be the answer they are looking for.
Press Releases
Download a copy in MS Word format:
November 2007 - 3 Year Savings Bond
November 2007 - 5 Year Discounted Mortgage
October 2006 - Fee Free Tracker
June 2006 - Mortgages for Life
May 2006 - Making changing your mtg
April 2006 - Getting onto the property
Press Coverage
Information coming soon...
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