Published: 18 September 2024
As a building society owned by our nearly 1 million members, we think being part of something bigger is good for everyone.
And when it comes to saving and owning a home, we believe it’s better to belong.
Here’s a few reasons why.
Belonging…helps to build communities
We’re driven by an aim to make home ownership a reality for more people, generation after generation. That’s why we were set up back in 1875 – to help working people in Leeds save and buy a home of their own.
It’s our savings members’ money that helps us provide mortgages that get first time buyers on the housing ladder. This benefits everyone, because home ownership means stronger, better communities. And communities thrive when people feel part of them.
Belonging…means you’re part of the family
We’re proud of our network of branches across the UK. We’re also proud to say we’re investing in their future, because we know just how much they mean to our members.
Yes, they’re a great place for you to come for trusted advice about your money. But more than that, they’re somewhere you can always feel at home and find a friendly face, a chat about the weather, or a helping hand with whatever you need.
Belonging…means we’ve got your back
Looking after our members is our number one priority. In 2023, we raised the bar by paying 0.59% above the average market rate*. That works out to be an extra £110 million in interest lining our members’ pockets!
And we’re always here to support you with whatever you’re going through. We do that by supporting members with money worries and signing up to the government’s Mortgage Charter - giving you more options when it comes to your mortgage payments. We also give mortgage members coming to the end of their fixed rate mortgage the chance to switch to a new deal up to six months ahead.
Belonging…could help you find a place to call home
We’re proud 1 in 2 of our mortgages go to first time buyers - and we’re doing our bit to improve hopeful homeowners’ chances of owning a home.
We’ve stopped new lending on second homes to free up housing stock in the market and we’ve got innovative products to help people get a foot on the ladder, too.
Experian Boost allows users’ regular monthly payments to potentially ‘boost’ their credit scores. We then use the boosted score in mortgage applications. And our Home Deposit Saver is a savings account designed to encourage first time buyers to save and build that all-important deposit.
Belonging…helps build brighter tomorrows
1 in 3 young people leaving the care system experience homelessness within two years.
That’s why, over the next three years, with the help of our members and colleagues, we’re pledging to donate at least £300,000 to support our charity partner Barnardo’s.
This means together, we can make a difference and build brighter tomorrows for young people leaving care who need housing, education and other support.
That’s just a few reasons why we’re all about the power of community and working together for everyone’s benefit.
It’s why we believe it’s better to belong.
*The Society paid an average of 3.05% to our savers compared to the rest of market average of 2.46%, which equates to an annual benefit to our savers of £110m. Source: CACI’s CSDB, Stock, January 2023 to December 2023, latest data available. CACI is an independent company that provides financial benchmarking data of the retail cash savings market.
