Leeds Building Society

Not to be confused with Leeds Permanent Building Society.
Leeds Building Society
Building Society (Mutual)
Industry Banking and Financial Services
Founded 1875
Headquarters 105 Albion Street, Leeds, England LS1 5AS
Key people
 Peter Hill, Chief Executive [1]
Products Savings, Mortgages, Investments,
Insurance,
Financial Planning
£207.5million GBP (December 2015), Increase 12% on 2014[2]
Total assets £13.5 billion GBP (December 2014), Increase 12% on 2013
Number of employees
 1300
Website www.leedsbuildingsociety.co.uk

Leeds Building Society is the fifth largest in the UK and serves approximately 719,000 customers across the UK who together hold £9.9 billion in savings balances. In 2015 their average interest rate paid to savers was 1.78% (1.2% UK average)[3] and their net mortgage lending was £1.4bn (£1.1bn 2014).[4]

History

The society was registered as the Leeds and Holbeck (Permanent) Building Society in 1875, though the society originated from a group called the Leeds Union Operative Land and Building Society which formed in 1845.[5] The society was renamed to Leeds Building Society in September 2005. It has 65 branches across the UK, with 29 located in Yorkshire and it has a branch in Gibraltar and a branch in Dublin. Its head office is located on The Headrow in Leeds city centre. It should not be confused with the defunct Leeds Permanent Building Society, which was also known as The Leeds, and merged with the Halifax Building Society on 1 August 1995.

In July 2006 Leeds Building Society was voted "Best Building Society" by Mortgage Magazine. This award is judged by an independent panel and takes into account long term value, customer service, how easy products are to understand and commitment to mutuality, as well as competitive interest rates.

On 1 August 2006, following approval by the Mercantile members and confirmation by the Financial Services Authority (FSA), Leeds Building Society merged with Mercantile Building Society.[6] Mercantile members overwhelmingly supported the proposal at the Society’s AGM at the end of April with 97% of the votes in favour of the merger. It is a member of the Building Societies Association.

The Leeds Building Society is also the main shirt sponsor of the current Super League Champion rugby league side Leeds Rhinos.

References

  1. ↑ http://www.leedsbuildingsociety.co.uk/your-society/about-us/board-of-directors/
  2. ↑ http://www.leedsbuildingsociety.co.uk/press/press-releases/2016/02/five-years-of-growth-leads-to-record-results-for-leeds-building-society/
  3. ↑ CACI data http://www.caci.co.uk/retail-finance-benchmarking
  4. ↑ http://www.leedsbuildingsociety.co.uk/press/press-releases/2016/02/five-years-of-growth-leads-to-record-results-for-leeds-building-society/
  5. ↑ http://www.leedsbuildingsociety.co.uk/your-society/about-us/history/
  6. ↑ "Mergers and Conversion". Building Societies Association. 1 July 2013. Retrieved 21 April 2014.

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