Formation and development The Dunfermline Building Society was established in the town of Dunfermline from which it took its name in 1869. A telephone banking service, Dunfermline Direct, was launched during Spring 1999. By the end of 2005, the Society had 34 branches and 38 agencies throughout Scotland. Around 20% of its business was generated outwith Scotland. The Society also had a large commercial lending book and was leading the way in investment in social housing.
2009 financial crisis On 28 March 2009, reports indicated the building society was no longer viable, toxic assets would be stripped out and the remaining business put up for public sale, to be managed by the Tripartite Authorities (
Bank of England, FSA and
HM Treasury).
BBC Scotland business editor Douglas Fraser broke the story, where a £26m loss was announced in late March 2009. and all branches of the society were closed by 13 June 2014. ==References==