Leeds sets the agenda with savings operation in Ireland

Leeds Building Society became the first UK Building Society to open a Euro deposit taking operation in Ireland on 1st July.

The Society launched a range of savings products, which were unusual in the Irish market, including 1 and 2-year fixed rates with access and a variable notice account. These accounts can be operated by cheque and customers can transact either by post, or face to face at the branch. All new customers also become members of the Society.

Kim Rebecchi, Director of Sales at Leeds Building Society said, "We welcome yesterday's decision by Nationwide Building Society to follow our lead and enter the Irish savings market. It confirms that the market is good and that Irish customers welcome a UK Building Society.

"We are delighted with the healthy level of savings balances since our launch on 1st July. Our Fixed Rate Flexible Bond, paying up to 5.40% with access, has been our best performing account and proved that Irish customers value a guaranteed return, for a period of around twelve months, combined with the flexibility and peace of mind provided by access to some of the funds, without notice or penalty, at any time.

"Competitive products backed up by excellent service is a key part of our strategy and business volumes have more than matched our expectations. We recognise that one size does not fit all and that our customers value the face to face service they receive in the Branch.

"Importantly, all Leeds Building Society's excellent value savings products in Ireland are share accounts, which means that our new customers automatically become members of the Society.

"We will also investigate the demand for online savings in the future and look forward to welcoming new customers from Ireland to our very successful Society."

For more information, customers can call into the branch at Ground Floor, 7 Upper Fitzwilliam Street, Dublin 2, call the savings hotline, on 0818 411005 or visit the website at leedsbuildingsociety.ie.