First Active
 | |
| Industry | Bank |
|---|---|
| Founded | 1861 |
| Defunct | 2010 |
| Headquarters | Formerly throughout Ireland, HQ in Dublin |
Number of employees | 700 (2004) |
| Parent | Ulster Bank Group |
| Website | www.firstactive.ie |
First Active was an Irish bank, and former building society which was merged into Ulster Bank in late 2009, ceasing trading in February 2010. It traditionally offered a range of mortgages (including subprime mortgages), savings, investment, pension and life assurance products, but from 2007 onwards, also offered credit cards, ATM accounts and current accounts as well as online banking and Laser/Maestro debit cards.
History[edit]
From the 1990s, it used an advertising campaign which involved contradicting received knowledge about finance. Examples included 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.
In 2004, Tesco Bank also began offering products provided by First Active.[1]
On 26 January 2009, it was announced that First Active would cease to operate as a separate entity and its operations would be merged with those of Ulster Bank, with the loss of 750 jobs (550 in the Republic of Ireland and 200 in Northern Ireland). From September 2009, it ceased offering any new products to customers in preparation for the merger.
References[edit]
- ^ RBS Announces Proposed Future Ring-Fenced Legal Entity Structure and Investment in Customer Brands London Stock Exchange, RNS No. 2659L, 30 September 2016
