How we do business

Doing what's right for our members

We know our members expect us to look after their long term interests; we have a responsibility to put them at the heart of our decision making.

We're committed to:

Remaining a member-owned building society:

  • Putting our members at the heart of our business and striving to achieve high levels of satisfaction
  • Investing profit back into the Society for the benefit of all our members
  • Bringing savers and borrowers together to create a mutually beneficial relationship
  • Giving our members a say in our future by voting on who runs their Society

Taking a zero-tolerance approach to bribery, fraud, money laundering and corruption:

  • Using technology, procedures, training and communications to protect our members’ money
  • Supporting members who fall victim to fraud
  • Vetting colleagues at recruitment and during employment
LBS members

Treating our members fairly including:

  • Using robust affordability assessments for our mortgages to guide our lending decisions
  • Where we think it’s right for our members, making it clear how to involve family and friends when managing their finances
  • Supporting the accessibility needs of our members by, where possible, providing a choice about how they want to hear from us
  • Handling complaints as quickly as possible, and explaining the reason for our final decision

Doing what’s right for our colleagues

We know our colleagues make our business successful; we have a responsibility to treat them fairly and with respect.

We're committed to:

Fostering a diverse, inclusive and equal workplace including:

  • Taking an inclusive approach to recruitment, encouraging people from a diverse range of backgrounds to apply for jobs with the Society
  • Providing time for colleagues to focus on career development
  • Supporting colleagues to work flexibly, to balance both personal and business needs
  • Providing equal opportunities for all, so everyone can progress their career

Offering fair pay and employment including:

  • Paying at least the Real Living Wage, as set by the Living Wage Foundation, to colleagues and contractors
  • Aligning executive directors’ and colleagues’ pension contributions
  • Listening to our colleagues through our Colleague Association for salary and reward decisions
  • Where restructures are unavoidable, endeavouring to find alternative roles for those affected
LBS colleagues

Providing a safe space for colleagues to speak up including:

  • Encouraging colleagues to use Speak Up to report wrongdoing, without fear of retribution, victimisation or detriment
  • Offering an independent Speak Up Hotline Service to enable colleagues to report concerns either anonymously or openly at any time

Promoting health, safety and wellbeing including:

  • Providing training information, instruction and guidance so colleagues can work safely
  • Providing a competitive total reward package for all colleagues including a range of health and wellbeing options
  • Having an open culture around mental health that supports colleagues facing difficulty

Doing what’s right for our communities

We know our business doesn’t operate in a vacuum; we have a responsibility to consider the wider impact of our actions on communities, suppliers and the environment in our decision making

We're committed to:

Paying our fair share of tax including:

  • Not maintaining any connection to tax havens other than for legitimate trading activity with the purpose of serving the local community in that jurisdiction
  • Not using marketed or abusive tax avoidance schemes which are likely to fall foul of tax avoidance legislation in any jurisdiction in which we operate
  • Declaring profits in the jurisdiction where their economic substance arises and reporting our tax position clearly in our Annual Report and Accounts

Supporting good causes including:

  • Providing support to communities through the Leeds Building Society Foundation, which makes donations to UK charities improving the lives of people who are disadvantaged or in vulnerable circumstances
  • Matching a percentage of the money colleagues raise through sponsored fundraising activities for registered charities
  • Providing colleagues with time to volunteer for causes of their choice
LBS in the community

Reducing our environmental impact including:

  • Buying renewable electricity for our office and branch sites
  • Limiting our use of natural resources, minimising waste and encouraging recycling across our office and branch sites

Doing business in a straightforward way including:

  • Not making donations to any political party
  • Working with external partners and industry bodies to represent the interests of our members, colleagues and communities
  • Giving our colleagues the option to select an ethical pension fund