Loughborough Building Society
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| Building Society (Mutual) | |
| Industry | Banking and Financial Services |
| Founded | 1867 |
| Headquarters | Loughborough, England, UK |
Number of locations | 5 |
| Products | Business Savings, Mortgages, Investments |
| Total assets | £287 million GBP (October 2014) |
Number of employees | 55 |
| Website | www.theloughborough.co.uk |
The Loughborough Building Society is a UK-based financial services provider headquartered in Loughborough, Leicestershire. It is currently the 30th largest mutual building society in the country, with 2014 reported assets of about £287 million.
The Society was founded by local businessmen, in 1867, as one of the new 19th century ‘permanent’ building societies. Unlike the original building society model, which had arisen in the English Midlands in the 1770s, these new societies were open to new members on an ongoing basis and not intended to terminate once each original member had purchased a house.
Throughout its subsequent history as a provider of mortgage and savings products, the Society has remained stable and mutually-owned by its investors and borrowers. It is one of two building societies based in Leicestershire. During the intensive period of demutualisation of UK building societies, which commenced in the 1990s and saw most of the country’s largest societies taken over by banks, the Loughborough continued to promote the importance of the mutual model. A Society run for members and collectively owned by them.
The current Board of Directors, Chief Executive Gary Brebner, Operations Director Caroline Joyce and Finance Director Stephen Jeffries, are on record as stating that the Society will remain in mutual status indefinitely "as a real alternative to the bigger banks and societies". Currently the Society maintains three branches of its own, in the town of Loughborough, in Derby and in Long Eaton, Notts., and it operates via agencies in West Bridgford and Southwell. Products are generally available throughout the UK, although occasionally mortgage deals are offered exclusively to customers with Leicestershire, Derbyshire and Nottinghamshire postcodes.
The Directors’ policy is to encourage customer engagement and to attempt to meet individual needs. To this end, twice yearly roadshows are held within the core East Midlands territory of the Society to explain policy, plans and any new products. This is in addition to the AGM which, again, offers members a chance to meet the entire board and have any questions or concerns aired.
In common with some other regional building societies, the Loughborough has a lengthy tradition of contributing directly back into its local community via sponsorship activity. As of 2015, this consists of maintaining sponsorship for 2 Christmas season events: the Loughborough Pantomime, held at the Loughborough Town Hall, and the annual Santa Fun Run held in aid of varying local causes. The Society also financially supports other events on an ad hoc basis, most notably the recent Shepshed Show and The Curve Theatre in Leicester.