Dunfermline is set for a major boost after the Nationwide Building Society announced it is to create 150 jobs.
The jobs will be based at the Pitreavie headquarters of the Dunfermline Building Society, which the Nationwide took over in March of last year.Bosses at the Nationwide confirmed Caledonia House is to become the centre for its regional brands, saying this underlined its commitment to Scotland.
Caledonia House will become a dedicated customer service and contact centre, a vital administrative hub serving the Nationwide’s regional brands in Dunfermline, Derbyshire and Cheshire.
The news follows a strategic review of its regional brands which it plans to take forward by creating a “simple, focused and sustainable business model.”
A spokeswoman said, “The Dunfermline will focus on its core strengths and specialise in savings and investments, with the ability to offer a range of Nationwide products.
“It will also continue to offer whole of market products from the recently created Nationwide Independent Financial Services.
“The regional brands will withdraw from offering their own branded mortgages and Dunfermline customers requesting new mortgages will be introduced to the wide range of deals available from Nationwide, the UK’s third largest lender.”
The downside is that up to 75 jobs could go elsewhere.
Nationwide group distribution director Matthew Wyles said, “This is a really good news story for Scotland. By expanding our operation in Dunfermline, we are creating around 150 new jobs and a dedicated administrative site which will become the focal point for all our regional brands in Scotland and England.
“The facilities at Caledonia House are ideal for the central customer service and support function we are creating for our regional businesses, and we are pleased that this enables us to maintain a strong presence in Scotland.”
The Nationwide also confirmed that its administrative offices in Macclesfield and Duffield will close within the next two years along with a number of branches in the Cheshire and Derbyshire.
Fife Council welcomed the announcement about the Dunfermline, which has suffered in recent years.
That suffering culminated in March of last year when the 140-year-old Scottish institution went under with debts of more than £20 million.
Members of the Scottish affairs committee blamed the society’s management board. It led the Dunfermline in a new direction that saw the society become involved in the riskier commercial property market.
It also failed to keep proper control of a major IT project, which eventually had to be abandoned at a cost of £9.5 million.
The Nationwide stepped in and took over the business.
Tony Martin, chairman of the council’s environment, enterprise and transport committee, said, “This is very positive news for Dunfermline. We’ve been speaking regularly to Nationwide since the takeover occurred and have been impressed by their commitment to both the staff and the local community.
“The quality and flexibility of the Fife labour market makes it a natural place for major financial services and employers to expand their operations.
“We are committed to supporting Nationwide and Dunfermline building societies in developing their operations in the future.”