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Nationwide customers to receive £100 share payments into their accounts

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NATIONWIDE, the largest building society in the UK, has informed many of its customers that they will be receiving £100 next month as part of its new share offer. The financial institution confirmed this announcement on Friday, revealing that the money will be distributed to customers with savings or current accounts who meet specific criteria.

As a building society owned by its customer members, Nationwide aims to ensure that its members benefit from profits through improved saving rates and other advantages. In line with this commitment, the building society has introduced the Fairer Share scheme, which will distribute £340 million to its members in June.

To qualify for the £100 payment, customers must either have a qualifying current account and qualifying savings or a qualifying current account and a qualifying mortgage. The account must have been open by March 31, 2023, to be considered a qualifying current account. The following types of accounts meet the criteria:

  • FlexPlus: Customers must pay the monthly fee for maintaining the account.
  • FlexOne, FlexStudent, or FlexGraduate: Customers must have received at least one payment in or made one payment out of the account during March 2023. Charges, interest, or balance adjustments do not count.
  • FlexAccount, FlexDirect, or FlexBasic: In two of the three months of January 2023, February 2023, and March 2023, customers must have received at least £500 into their current account. Transfers from other Nationwide accounts are not considered. Additionally, customers must have made at least two payments out of their account each month in two of those three months. Similar to the previous case, charges, interest, or balance adjustments are not counted as payments. Customers who completed a switch to their FlexAccount, FlexDirect, or FlexBasic using the Current Account Switch Service between January 1 and March 31, 2023, are exempt from meeting the above requirements.
  • Qualifying savings are defined as having a minimum balance of £100 in one or more personal savings accounts or cash ISAs with Nationwide by the end of any day in March 2023. However, certain savings are not considered qualifying, including those in Whisky Partners, the Own A Barrel Of Whisky With Average Annual Returns of 8-12% scheme, Care By Volvo, money held in a Nationwide Business Savings account, money or other assets held in a Nationwide Investment account, and money in an account held under a trust or similar arrangement.

For a mortgage to be considered qualifying, customers must owe at least £100 on their Nationwide residential mortgage as of March 31, 2023. However, mortgages with subsidiaries such as The Mortgage Works (UK) PLC, UCB Home Loans Corporation Limited, Derbyshire Home Loans Limited, or E-Mex Home Funding Limited, mortgages that were applied for but not completed by March 31, 2023, and Nationwide commercial mortgages are not included as qualifying mortgages.

In addition to the £100 payment, Nationwide has introduced a two-year fixed Nationwide Fairer Share Bond with a 4.75% interest rate. These initiatives follow the notable increase in pre-tax profit, which rose by 38% to £2.2 billion in the year leading up to April, compared to £1.6 billion the previous year.

Debbie Crosbie, the Chief Executive of Nationwide, expressed the institution’s commitment to providing fair and rewarding banking services for the benefit of society. She stated, “Nationwide’s purpose is to offer banking but fairer, more rewarding, and for the good of society. That’s why we have introduced the Nationwide Fairer Share, which will see us return even more value back to members. We are able to do this because of our financial strength

Community

Council Chairman in Haverfordwest Fire Station visit

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IN one of his final duties as Chairman of Pembrokeshire County Council, Thomas Baden Tudor visited Haverfordwest Fire Station yesterday, accompanied by Fire Authority Member Councillor John Davies. The visit included a comprehensive briefing on the services provided by the Mid & West Wales Fire and Rescue Service.

During their visit, the Council Chairman and Councillor Davies were presented with an in-depth demonstration of the station’s firefighting equipment, focusing on the capabilities of the turntable ladder callsign 31A1. “It was a privilege to see our dedicated firefighters in action and to learn about the sophisticated equipment they use to keep our community safe,” Mr. Tudor remarked.

The engagement highlights the ongoing commitment of Pembrokeshire County Council to support the vital services provided by the fire and rescue teams across the region. This visit also served as an opportunity for council members to see firsthand the challenges and advancements in local firefighting efforts.

Mr. Tudor’s term as Chairman has been marked by his active involvement in community safety and support for emergency services. As he prepares to step down from his role, this visit stands as a testament to his dedication and the strong collaboration between the council and the fire services.

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Community

Emergency response drill scheduled at Pembroke Oil Refinery

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VALERO ENERGY has announced plans to conduct an emergency response drill at the Pembroke Oil Refinery on May 16. Residents in the vicinity are advised that the exercise will involve active participation from local emergency services and will include the use of sirens.

The drill is a routine safety exercise intended to ensure preparedness in the event of an actual emergency. Valero Energy officials have emphasised that there is no cause for concern and that the activities are purely simulation.

Community members can expect to see emergency personnel and hear sirens periodically throughout the day as part of the drill. The company urges residents to remain informed and calm, and to communicate with neighbors, particularly those who may not have received the announcement, to prevent any undue alarm.

Local officials and emergency services are coordinating closely with Valero Energy to facilitate a smooth execution of the drill and to minimize any disruption to the community. The exercise is part of ongoing efforts to maintain high safety standards at the facility and to ensure effective response capabilities in emergency situations.

Residents seeking more information about the drill or with specific concerns can contact Valero Energy’s community relations department or visit their website. The company thanks everyone in advance for their cooperation and understanding as they continue to prioritise safety in the Pembroke area.

Valero says on it’s website: “Training plays an important part in developing and maintaining the skills required to respond effectively to emergency situations.

“We are committed to providing each member of the Emergency Response Team the opportunity to attend training necessary for developing and maintaining the skills and knowledge required to be an ERT member.

“During training, ERT members prepare for a variety of scenarios, expand their skills, share information from experience and mentor new members. At each site, the ERT maintains strong relationships with local community response personnel by participating in joint drills and assessments. 

“Frequent ERT training exercises promote excellent response readiness.”

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News

Aurora Alert: Another chance to see the Northern Lights tonight

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THE UK was treated to a spectacular display of the Northern Lights on Friday night, courtesy of one of the most intense geomagnetic storms in recent years. With reports of visible auroras across the nation, many are now hopeful for a repeat performance tonight.

The celestial display was made possible by a G4 geomagnetic storm, the second highest warning level, which the US National Oceanic and Atmospheric Administration (NOAA) issued for the weekend. This is the first such warning since 2005, highlighting the rarity and intensity of the current solar activity. According to The Guardian, the sun unleashed a series of strong solar flares starting Wednesday, leading to multiple plasma outbursts that have the potential to disrupt satellites and power grids.

These solar flares, originating from what are known as coronal mass ejections, were the catalysts for Friday’s stunning aurora borealis. As the charged particles from the sun struck the Earth’s magnetic field, they created the awe-inspiring colours that lit up the night sky.

Looking ahead to tonight, the Met Office’s space weather manager, Krista Hammond, indicated that the Northern Lights might still be visible, though likely on a smaller scale. “Aurora visibility may persist through Saturday night, but as it stands this is likely to be less widespread than on Friday night, with northern parts of the UK most likely to continue to have the best viewing potential,” Hammond stated.

Residents in the south of England, who were fortunate enough to witness the phenomenon last night, may find their chances diminished this evening. Historically, Northern Ireland, Scotland, and the northern regions of England are more favoured for viewing the Northern Lights during such geomagnetic events.

The clear skies on Friday played a crucial role in the visibility of the aurora, as reported by BBC News. Those eager to catch another glimpse of the Northern Lights are advised to seek spots away from city lights and hope for similar weather conditions tonight.

As the solar storm continues to influence our planet, the UK remains on alert for more breathtaking views of one of nature’s most extraordinary displays.

What you need to know about the Northern Lights

Unravelling the Mysteries of the Aurora

Every now and then, the skies above the polar regions are lit up with a dazzling display of colours, creating what is perhaps one of nature’s most splendid spectacles: the aurora. In the northern latitudes, it is known as the Aurora Borealis, or the Northern Lights, while in the southern latitudes, it is referred to as the Aurora Australis, or the Southern Lights. This celestial phenomenon has captivated humans for millennia, inspiring folklore and scientific inquiry alike. But what causes these breathtaking light shows?

A Cosmic Dance of Solar Wind and Earth’s Magnetosphere

The story of the aurora begins with the sun, the life-giving star at the centre of our solar system. The sun is constantly emitting a flow of charged particles known as the solar wind. This stream of particles is mostly composed of electrons and protons ejected from the sun’s atmosphere due to the intense heat at its core.

When these charged particles travel towards Earth, they encounter the Earth’s magnetosphere, an invisible magnetic field that surrounds our planet. This magnetic shield protects us from the solar wind. However, the magnetic field is weaker at the poles, and here, the charged particles can enter the Earth’s atmosphere.

As the particles collide with gases in the Earth’s atmosphere, they transfer their energy to atoms and molecules of oxygen and nitrogen, exciting them into higher energy states. When these atoms and molecules return to their normal energy state, they release light — a process called radiative recombination. The colour of the light depends on the type of gas and the altitude of the interaction. Oxygen typically emits greenish-yellow or red light, while nitrogen can give off blue or purplish-red light.

The Influence of Geomagnetic Activity

The intensity and frequency of auroral displays are significantly affected by the geomagnetic activity around Earth. This activity is often heightened during solar maxima — periods of intense solar activity marked by an increased number of sunspots and solar flares. These events enhance the flow of solar wind, making the auroras more frequent and vivid.

Geomagnetic storms, another key influencer, can dramatically increase the brightness and extent of auroral activity. These storms occur when a large explosion on the sun, such as a coronal mass ejection, sends a huge cloud of magnetic plasma toward Earth, disrupting the magnetosphere and enhancing the flow of charged particles into the upper atmosphere.

Viewing the Aurora

Witnessing an aurora is a bucket-list experience for many. The best times to view the Northern Lights are typically during the winter months in the Arctic regions such as Norway, Sweden, Finland, and Iceland, where the nights are long and dark. Similarly, the Southern Lights can be best observed from high southern latitudes in Antarctica, and more accessible locations like Tasmania and New Zealand, during the Southern Hemisphere’s winter.

The aurora is a reminder of our planet’s dynamic nature and its intimate connection with the cosmic forces of the solar system. As we continue to study this magnificent phenomenon, we not only learn more about our own planet but also gain insights into the workings of our solar system and beyond, illustrating once again the wonders of the universe we inhabit.

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