The EBS: "You're Better Off In The Long Run" Are U ?

[N0elC]

Re: The EBS: "Your Better Off In The Long Run..."

members benefit from their ... status

From what's gone above, and the debacle that is Standard Life and INBS, isn't members benefitting from mutual status like saying that turkeys benefit from Christmas ?

 

[ClubMan]

Re: The EBS: "Your Better Off In The Long Run..."

From what's gone above, and the debacle that is Standard Life and INBS, isn't members benefitting from mutual status like saying that turkeys benefit from Christmas ?

The members ultimately own the society and have the power to influence and control how it is run. As such their destiny and that of the society is in their own hands if they have the courage of their convictions to get involved and actively work to right the wrongs that they perceive.

 

[JohnnieKipper]

Re: The EBS: "Your Better Off In The Long Run..."

Quote : - Their Mortgage Rates are not the cheapest & have not been for about 5 years, I reckon.

They give you all this rubbish about the cheapest variable mortgage rate, but everyone knows that you can get cheaper rates by selecting a tracker mortgage from another lending institution - why would I want to pay more, for a different type of mortgage rate that is also variable ?

End Quote

Garretod,

What institution/package is better. I'm interested as I will be getting a mortgage shortly. I've used EBS in the past thinking they were the cheapest.

 

[N0elC]

Re: The EBS: "Your Better Off In The Long Run..."

Sorry to jump in Garretod, but plenty of providers are cheaper than our friends in the EBS. So much for the benefits of being mutual, eh ?

 

[ClubMan]

Re: The EBS: "Your Better Off In The Long Run..."

There's also a list of tracker rates .

 

[rainyday]

Re: The EBS: "Your Better Off In The Long Run..."

2003 / inception
Stable: -0.4 / -0.4
Balanced: 10.5 / -12.2
Global Leaders: 1.5 / -10.5
Growth: 13.6 / -5.1
Technology: 22.0 / -8.8

Where are you getting your numbers from, Max? The figures you quote for performance since inception bear no relation to the graph shown on Page 4 of the latest

 

[Max Hopper]

Re: The EBS: "Your Better Off In The Long Run..."

Summit Mutual Funds<!--EZCODE BR START--><!--EZCODE BR END-->Public Limited Company<!--EZCODE BR START--><!--EZCODE BR END-->Report and Accounts<!--EZCODE BR START--><!--EZCODE BR END-->31 December 2003<!--EZCODE BR START--><!--EZCODE BR END-->Investment Adviser's Report<!--EZCODE BR START--><!--EZCODE BR END-->Summit Funds Performance (pg. 2)​

Read it and weep.

 

[garrettod]

Re: The EBS: "Your Better Off In The Long Run..."

Hi

I've previously tried to raise my concerns though:

- correspondance with members of the Board, via e-mail (think it was someone on AAM that discovered that the e-mail addresses of all directors were printed in the Annual Report for the EBS previously ?)

- offering myself as a possible candidate for their small customer meetings or whatever they call them

No response !

Have you previously made contact & had issues addressed by them ? ... if so, would you please provide me with details of who you made contact with etc ? (assuming it's not too personal )

This address perhaps ?

EBS Building Society Registered Office: The EBS Building, 2 Burlington Road, Dublin 4.

Cheers

G>

 

[ClubMan]

Re: The EBS: "Your Better Off In The Long Run..."

Have you previously made contact & had issues addressed by them?

I'm no longer a member myself for the past three years or so and my recent attempt to rejoin failed as I was mis-advised that holding €127 or more in cash in my Summit SSIA would qualify me for membership. Perhaps €127 or more in a deposit SSIA (or another investment/share account) does the trick? Anyway, I passed on some feedback about the [broken link removed] site which lead to an (email) discussion about some other issues (e.g. the "lowest standard variable rate" versus more competitive trackers issue, the continuing lack of current account mortgages and daily calculation of mortgage interest etc.) and an invitation to me to participate in their Inside Track customer focus group which I was unfortunately unable to accept. My comments and feedback were accepted gratefully but I'm not sure what they made of them internally and, not being a member, am in no real position to follow them up.

 

[rainyday]

Re: The EBS: "Your Better Off In The Long Run..."

think it was someone on AAM that discovered that the e-mail addresses of all directors were printed in the Annual Report for the EBS previously

I claim credit for that discovery, G.

2003 / inception
Stable: -0.4 / -0.4

Still doesn't make sense, Max. From their funds calculator, the Stable Investment fund went from 1.019 to 1.033 over the course of 2003, showing a return of 1.37% (not the -0.4% you quote).

What inception dates are you referring to for each fund?

 

[Max Hopper]

Re: The EBS: "Your Better Off In The Long Run..."

, the figures are annualised returns. On the Summit Stable fund is a footnote that the fund was launched 17.04.03 . As for the accuracy of EBS' numbers, IANAA (Mam was the bean-counter in the family).<!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END-->e-mail at EBS is <name.surname>@mail.ebs.ie e.g., [email protected]

 

[rainyday]

Re: The EBS: "Your Better Off In The Long Run..."

the figures are annualised returns

Please explain or define.

On the Summit Stable fund is a footnote that the fund was launched 17.04.03

Still doesn't make sense- their online fund calculator is showing fund prices for that fund before those dates.

 

[Max Hopper]

Re: The EBS: "Your Better Off In The Long Run..."

I suggest you call (or better, write, as ).<!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END-->On page 3 (Director's Report), item 1. is a reconfirmation -

<snip><!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END-->The Stable Fund, which only invests in cash, produced a negative return of -0.4% since inception in April. This fund is not open for initial investment but is available for switching between funds when markets are turbulent. The Summit Mutual Funds were launched in May 2001. The Balanced Fund, which holds miminum of 33% in deposits and government gilts, has has a negative return of -12% since launch. The Growth Fund is -5% over the same period.<!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END-->The Global Leaders Fund invests in companies with a market capitalization in excess of US $10 billion and has had a negative return of -26%. and the Technology Fund -22% for the period since launch.<!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END--></snip>

As Mam oft said, "Figures lie and liars figure."

 

[garrettod]

Re: The EBS: "Your Better Off In The Long Run..."

Clubman

Thanks for the info.

AFAIK, it's a simple rule with Building Societies, get a passbook and a members share account if you want membership. Anything else won't carry a guarantee & mixed signals from young & unsure staff are not the way to go imho.


Rainyday,

Sorry, can't recall if it were you who pointed out the EBS Directors, e-mail addresses. However, if you want the credit, I'll believe you (this time )

Cheers

G>

 

[ClubMan]

Re: The EBS: "Your Better Off In The Long Run..."

As it happens I seem to recall that it was the Sarah Loftus mentioned above who I was dealing with in relation to passing on feedback about Inside Track and the society in general.