MERGER of the Progressive Building Society and the City of Derry Building Society took effect from yesterday.
The Prudential Regulation Authority (PRA) has approved the merger which will see the enlarged society retaining the name Progressive Building Society, with it remaining an independent, Northern Ireland, mutual organisation owned by its members. Members of the former City of Derry Building Society now have access to the full range of products and services offered by Progressive and will be able to use its full branch and agency network with offices in Derry and locations throughout the north. The Progressive Building Society is Northern Ireland's largest locally owned financial institution and is this year celebrating its centenary.