That being so, does any of that value trickle down to the members of the Scarborough society? Apparently not.

Why not? There will be very many long term members who have stayed with the society because it was our own society.

It was a substantial employer.

It gave a helping hand with funding to charities and other good causes.

Getting the best rate of interest on an investment account or the cheapest mortgage was not always the only objective of local people. Loyalty certainly was an objective in the minds of many. There are "benchmark" guidelines, we are told, for salaries and pensions, but loyalty to members has seemingly no value.

Whatever happened to the loyalty bonus or windfall at times such as this?

Is it not time the Skipton/ Scarborough took a second look at this deal? If we are told there is nothing in the kitty for the members and justice has been done then justice must also be seen to be done.

If the society was well capitalised at the start of the year where has the capital gone now?

Did the deal have no value to the Skipton?

The loyal locals are entitled at the very least to a clear financial statement.

Freddie Drabble

Scalby Road

Scarborough

AS WE edge towards a financial calamity of such gargantuan proportions that it will affect our lives for decades to come, we might be forgiven for thinking that this is just the time when old fashioned mutual and friendly building societies might be most needed.

Well found and responsible lenders whose only reasons for existence are to act as bankers to the local communities which founded them and from which they generally take their names.

These fine institutions were never intended for shareholder or individual profit and were administered for the benefit of all by the benevolent few.

Whilst it would be inappropriate for me to comment on the exact nature of the Scarborough's demise, I can't help wondering if this is not in fact an opportunity for a new breed of lending organisations to develop, to be founded again on the high principles and aspirations of our forebears.

John Senior

Scalby





HARRY Arundale (whose son Neil owns Arundales motor group) must be turning in his grave.

As a former Scarborough town councillor and former director of Scarborough Building Society, he was a real gent who had Scarborough town at heart.

It's a very sad day to lose OUR building society's name.

Brian Palmer

Hanover Court

Scarborough