Beverley to keep the personal touch
Beverley Building Society plans to ensure more people have access to face to face financial services, at a time when many banks have infuriated customers by closing rural branches.
Beverley, one of Britain’s oldest mutuals, also revealed it had achieved one of its best financial performances in 2017.
BEVERLEY BUILDING Society plans to ensure more people have access to face to face financial services, at a time when many banks have infuriated customers by closing dozens of rural branches.
Beverley, which is one of Britain’s oldest mutuals, also revealed that it had achieved one of its best financial performances during 2017. The society’s pre-tax profits were £680,000 which was almost double 2016’s figure of £337,000.
Overall lending was up by £1.8m, to £149.3m in 2017, compared to £147.5m the previous year, which Beverley said was due to its personalised approach to underwriting and meeting people’s niche borrowing needs.
In recent years, many of the big banks have closed branches in rural communities, provoking an angry response from customers and businesses.
Beverley is speaking to a number of potential collaborators, including East Riding of Yorkshire Council and the University of Hull, about the possibility of undertaking a research project looking at the financial needs of people in East Yorkshire. The project could include an assessment of the provision of financial services in rural communities.
The chief executive, Karl Elliott, said: “While the society, which has just one branch, could not justify an investment in more bricks and mortar facilities, it is investigating the possibility of working with partners to estab-
lish ‘pop-up’ facilities so people in East Yorkshire can access a face to face service and get the help they need near where they live.”
Mr Elliott added: “Our society was created over 150 years ago by the revolutionaries of their day – driven by their vision of making home ownership a possibility for all.
“In today’s financial marketplace, where there is ever more uncertainty; from affordable housing, to planning for later life, there is a growing need for a financial provider who is accessible and can better understand and respond to customers’ changing needs.”
Chief executive of Beverley Building Society.