Northern Rock

Northern Rock Building Society was formed on 1 July 1965 as a result of the merger of Northern Counties Permanent Building Society (established in 1850) and Rock Building Society (established in 1865). After such time, Northern Rock Building Society merged with a number of small local building societies and, prior to its conversion to a public limited company in October 1997, was an amalgamation of 53 societies. The most significant development in the recent history of Northern Rock was its conversion on 1 October 1997 from a building society to a public limited company, listed on the London Stock Exchange and authorised under the Banking Act 1987. The conversion also resulted in the establishment of The Northern Rock Foundation, a charitable body which is entitled to receive approximately 5% of the annual consolidated profit before tax of Northern Rock plc.

The Northern Rock Mission Statement

Northern Rock is a specialised lending and savings bank which aims to deliver superior value to customers and shareholders through excellent products, efficiency and growth.

The Northern Rock Company Strategy

Northern Rock is a specialised lender providing funds for residential mortgages, secured commercial lending and personal finance. Funding is obtained from both on-shore and off-shore personal savings, wholesale money markets and from the securitisation of mortgage assets. The Northern Rock strategy encompasses efficiency, growth and value for both customers and shareholders.