Building society opens for business in Ireland

Nationwide UK (Ireland), a branch of Nationwide Building Society, opened for business in the Irish market today.

Tánaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan officially opened its new offices at Spencer Dock in Dublin.

"The arrival of Nationwide Building Society into the Irish market at this time is a significant vote of confidence in our economy and highlights the opportunities for prudent operators within our banking sector," said Coughlan.

"I expect the appetite for safe and sound savings products at present will more than justify their decision to open for business here and I am hopeful that the number of jobs they have created will increase significantly in the years ahead."

Initially, Nationwide UK (Ireland) is offering customers a range of savings products – an easy access savings account, a six-month fixed rate savings account and a nine-month fixed rate savings account.

Detailed information is available online at www.nationwideuk.ie or by phone [phone].

There are currently 19 people employed in the Dublin office and all enquiries, account opening and servicing will be handled locally.

Carl Gandy, managing director, Nationwide UK (Ireland), said: "Nationwide Building Society is delighted and proud to be opening its operation in the Republic of Ireland.

"With over 160 years worth of experience in looking after people’s money and with assets of around £200bn (€217bn), we are strong, solid and dependable. Our size, strength and mutual status place us in a unique position to be able to provide a secure and trusted home for people’s savings.

"The Republic of Ireland has a strong savings market and our aim is to offer competitive interest rates and provide long term good value to customers. This move will enable us to further diversify our geographical operations and funding opportunities.

"We have a very different business model to that of the banks and so the time is right for us to become the first choice for savers in Ireland."