The Intermediary – April 2025 - Flipbook - Page 39
advice surgeries, making them valuable resources
Foundation in Lancashire. The society also offers
for addressing a variety of community issues.
a Volunteering Policy, allowing colleagues two
Bogard notes: “Our main focus is helping to
fund the local Citizens Advice Bureau. Our staff
also volunteer at the local food bank and Age
paid days each year for community activities.
Marsden Building Society is equally
committed to sustainability, aligning with the
Concern, we provide gardening support for the
UK’s net zero goals by transitioning to electric
Princess Alice hospice, decorating for SeeAbility
and hybrid vehicles, installing electric vehicle
and the women's hostel, and we also support
(EV) charging points, and using 100% renewable
Surrey Young Carers.”
electricity tariffs. The society aims to further
Fieth also mentions trials supporting access
assist members living in less energy-efficient
to cash via universal banking machines, allowing
homes in collaboration with public sector bodies
transactions regardless of bank affiliation, and
and third-parties, to reduce emissions and
co-locating branches with other community
improve environmental impacts.
organisations, as seen with the refurbishment
Through these comprehensive efforts, building
of a library in Newcastle that now includes a
societies demonstrate their commitment to
mini-branch.
creating lasting, positive impacts in their
Yorkshire Building Society has been actively
supporting charities and good causes through
its Charitable Foundation since 1999. The society
communities and advancing sustainability and
social change in the modern age.
has donated over £10m, and colleagues are given
Digital transformation
31 hours of paid volunteering time each year to
Building societies are also on the cusp of a
contribute to social good in their communities.
digital transformation as they evolve to meet the
Stinton reinforces Coventry Building
demands of a modern financial landscape while
Society’s commitment to social causes, such as
preserving their deep-rooted heritage. Bowen
homelessness and financial literacy, with £4.5m
emphasises that technology is key for building
donated last year and over 12,500 hours of
societies' evolution.
employee volunteering.
Following Mutual Vision’s acquisition by Big
"Our efforts include reducing our carbon
Ideas Group in October 2024, Bowen highlights
footprint and supporting green housing
the alignment of values, saying: "They believe
initiatives," he adds.
in the power of local banking, mutuality, and
Pheasey speaks to Marsden’s dedication to
putting people before profit."
fostering supportive, inclusive, and sustainable
This acquisition aims to propel building
environments that enhance financial wellbeing
societies into the digital age, providing them
and customer satisfaction.
"Our goal has always been to build a better
community, which goes beyond simply helping
with tailored solutions to streamline operations
and enhance member experiences.
However, many customers, particularly
members save and own their homes," he explains.
older savers, still prefer traditional methods of
Since 2023, Marsden has made 22 donations
communication, such as phone conversations,
totalling over £60,000 through its Charitable
letters, and cheques.
p
FIRST ADOPTION
INDUSTRIAL AND
ECONOMIC GROWTH
The industrial revolution
led to demand for
housing and the growth
of societies. The Building
Societies Act 1874
provided the legislative
framework for current
and future societies.
1860s1880s
THE WAR EFFORT
By WW2, building
societies were on the
decline and mergers
began to occur. Those
that remained played
a key role helping
build vast numbers of
new homes after the
devastation of the war.
1939
OF COMPUTER
TECHNOLOGY
BUILDING
Building societies
began adopting
computer systems
to manage accounts
and transactions,
marking a significant
technological
advancement.
SOCIETIES ACT
1960
1986
The Act allowed
building societies to
expand their services
beyond mortgage
and savings accounts,
introducing wider
banking services.
