INBS members face one-year wait for windfall

MEMBERS of the Irish Nationwide Building Society (INBS) will not get their hands on windfall payments for at least a year, the society said yesterday.

The society, which plans to end its status as a mutual society jointly owned by its members at the earliest opportunity, said the legal changes it wanted would not be put in place by the Government until autumn.

But it would take less than six months from then for the society to find a partner for a trade sale.