- First Active
company_name = First Active Plc
foundation = 1861
Subsidiaryof Royal Bank of Scotland
location = Throughout
Ireland, HQ in Dublin
num_employees = 4800 (2004)
products = Various Banking Products
homepage = [http://www.firstactive.ie/ www.firstactive.ie]
First Active is an Irish
bank, and former building society. It has traditionally offed a range of mortgage, savings, investment, pensionand life assuranceproducts. However in recent months, they have begun to provide Credit Cards, ATM accounts and Current Accounts. They offer online banking as well as Laser/Maestro debit cards.
First Active was founded in
1861as the Workingman's Benefit Building Society. It was incorporated in Irelandin 1875under the Building Societies Act, 1874. In 1960the name of the Society was changed to First National Building Society. Over a period of years First National grew both organically, through expansion of its branch network, and by the acquisition of the business of five small building societies.
1994First National acquired Mortgage Trust Limited, a UK centralised mortgage lending business. In 1995a deposit taking subsidiary commenced business in Guernsey, Channel Islands. The Group's UK operations were expanded in 1996through the acquisition of The Mortgage Corporation. A retail deposit taking operation was established in Englandin 1996 to obtain sterling deposits to fund the Group's growing mortgage business in the UK.
1998Annual General Meeting the members voted to convert to a public limited companyand to list the Company shares on the Irish and London Stock Exchange. Conversion occurred on 7 September 1998, the shares were listed on 6 October 1998 and simultaneously the company raised IR£132 million in new capital from existing members and from the institutional markets.
2000and December 2002First Active sold its investments in First Active Financial in the UK to Britannic Assurance plc.
Since the 1990s, it has been using an advertising campaign which involves contradicting
received knowledgeabout finance. Examples include the First Active representative telling "Most people" that there's no need to keep switching mortgage companies, finding "whoever said that you need to keep switching mortgages in order to get the best deal", and finding where it is written that it takes ages to get a decision on your mortgage.
On 5 January
2004First Active became a wholly owned subsidiary of the Royal Bank of Scotland Group.
* [http://www.firstactive.ie/ First Active (Republic of Ireland) company website]
* [http://mortgages.firstactive.co.uk/ First Active (UK, mortgages only) company website]
* [http://about.firstactive.co.uk/ About First Active]
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