Very Direct Crisis Communications from Northern Rock

Northern Rock, the troubled bank in the UK is approaching Crisis Communications very very directly. The Northern Rock home page, as I type this starts out:

Your Funds are Safe with Northern Rock

Northern Rock would like to make it clear to all customers that we are open for business as usual. We remain
a sound company and continue to be a safe place for your savings.

The Chancellor has made it very clear that all existing savings accounts with Northern Rock are safe and secure
during the current instability in the financial markets.

Her Majesty’s Treasury has guaranteed:

  • All accounts existing at midnight on Wednesday, 19 September.
  • New deposits made into those existing accounts.
  • Future interest payments and movement of funds between existing accounts.
  • All accounts re-opened by customers who have previously asked us to close their account between
    Thursday, 13 September and Wednesday, 19 September.

So far so good. Direct assurances to customers that their funds are safe. But then it changes into the implausible. He asks for new business? Wahuh? I think this is being a bit too optimistic.

If, like many of our customers, you wish to reinvest funds with us, simply download and complete the Savings Reinvestment Form, enclose a cheque and post it back to the Savings Department address given in the form.

I do applaud them for being direct. Perhaps step back before asking for more business. Either way, this is candor and that is always a good start. This will be interesting to see how it plays out.