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
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
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
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