Interest widens in Yorkshire and Britannia branch network scheme

The move by Yorkshire and Britannia building societies to link their branch networks has struck a chord with other mid-sized mutuals, who are to hold talks later this year on the possibility of joining the nascent network.

The move by Yorkshire and Britannia building societies to link their branch networks has struck a chord with other mid-sized mutuals, who are to hold talks later this year on the possibility of joining the nascent network.

Ian Cornish, Yorkshire Building Society company secretary, said yesterday that "one or two mid-range regional building societies had expressed interest" in the scheme, details of which were announced last week.

Mr Cornish declined to name the mutuals but said: "It is likely to be more appealing to some of the smaller building societies because they would get access to a national [branch] network." The move by the pair - the third and fourth-largest societies - is the first time that societies have offered customers of competitors access to services over the counter, free of charge. Martin Ritchley, chief executive of Coventry Building Society, said yesterday it was not interested in the scheme at present but would monitor its popularity. Coventry, which has 50 branches across the Midlands, yesterday reported a 5 per cent rise in pre-tax profits to £18.5m in the six months to 30 June.