How we do business

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

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

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

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

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

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