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Derbyshire Building Society

The Derbyshire Building society is based in England with its head office in Derbyshire, East England. Following the principal of mutuality, this building society has been offered useful financial services in the form of mortgages, insurances, savings, credit cards and other investments methods to customers since 1859. As a customer, it is wiser to invest in a building society which follows the principal of mutuality. Here is why. In mutuality, the profits earned by the organisation, even fractionally need not be distributed to the shareholders as there are no shareholders in the scheme of ownership in such a system. Here, the Derbyshire Building Society is wholly owned by the owners as well as the members of the society. This way, the profits and earnings can be divided among the members. This ensures more return on the invested money and hence money deposited into the savings accounts of these financial organisations generates a higher amount of return as compared to the nationalised or private banks.

The Derbyshire Building Society was founded in the year 1859 and currently has fifty nine operating branches spread strategically across England today. It is the ninth largest building society in the United Kingdom with incremental assets worth 7.1 billion pounds. In 1966, the Derbyshire Building Society merged with the Somercotes building society and the Ashbourne Permanent Benefit Building Society. This was followed by the re designing of the logo which soon appeared on all the credit cards issued by the Derbyshire Building Society.

Various types of savings accounts are provided the Derbyshire Building Society to its clients. This provision is need based as are most of the products from Derbyshire Building Society. This implies that whether it is an insurance service or a Mortgage, it is designed in such a way that it is in compliance with the customer requests. Using the mortgage calculator, the customer can calculate his monthly repayment before hand to have an idea of how much money he needs to have before borrowing or how much money he needs to pay as premium in case of insurance. Among the insurance products, home insurance, auto insurance, health insurance and travel insurance are some excellent services which have been popular with the public over the years.

The current financial crisis has urged Derbyshire Building Society to consider a merger with the Cheshire Building Society and the National Building Society to strengthen their hold over their operating domains.