We'll be doing some work on our website on Tuesday 24 March which means you won't be able to log in, register, or apply online for a savings product between 6pm and 9pm.
This means Leeds Building Society is owned by our members. Everything we do is focused on helping people like you save and make the most of your money.
To keep things fair for everyone, new members agree to give any potential windfall conversion benefits to our Charitable Foundation for the first five years. After that, it no longer applies.
A windfall conversion benefit is a one-off payment you might get if the Society were ever taken over or changed into a different type of business. By choosing to share it with the Foundation, you’d be helping us support good causes instead of keeping a payout if this unlikely event ever happened
This helps stop people joining just to make a quick profit, which is called speculative investing, helping to keep us focused on genuine savers like you.
Your questions answered
This applies to new members joining after 1 March 1999. If you were already a member before then, nothing changes.
Yes, there are a few special cases, handled individually to make sure things stay fair.
After you’ve been a member for five years, the agreement no longer applies. Any future windfall conversion benefits would be yours.
Our Charitable Foundation is a registered charity that helps good causes by making donations to UK charities and supporting those in need of a safe and secure home.
No. We’ve always been committed to staying an independent building society. This arrangement is simply here to protect genuine savers and avoid people joining just to make a quick profit.
