Corporate Social Responsibility Report 2010
Mutual means we care about change in our community
"Staying in touch with our community, and in particular how people's attitudes are changing, is crucial if we are to maintain our role in the region. This year we're getting closer to our members and the wider community and deepening the conversations we have, to learn more about how financial matters affect their lives."
The Society is proud of its place within the heart of the community in Suffolk which derives from our endeavours to understand and take care of the needs of our membership, staff, local businesses and the environment in which we live. This year we have made ourselves more accessible to you through our face to face contact and dialogue, the products and services we offer, our partnering arrangements, extending our agency network and our involvement with local charities.
Listening to members
Team effort for great results beyond the balance sheet
During the summer we began a 'conversation' with the people of Suffolk in order to know more about those in our heartland and what is important to them. We asked "Ever wondered why you are here?" and were delighted by the responses. Fish & chips were mentioned more than football, people care more about relaxing than retail and we prefer big skies to big nights out. Above all, participants paid more regard to people than places. We understand that. People are at the heart of our organisation and the way in which they deal with you, our members, is what makes us different.
We place a lot of emphasis on comments and opinions from members and this year it has not just been the customer facing staff that has been collecting such feedback. We introduced a programme of visits to branches by our Directors, giving you a chance to raise with them issues that are important to you. They were delighted with the reception that you gave them and the open and constructive conversations that they had.
The Annual General Meeting also gives members the opportunity to ask questions either in person or, for those not able to attend, by submitting questions in advance.
We know that our membership appreciate our open, honest and transparent approach and we encourage you to let us have your thoughts.
Respected products and service
Whilst a large part of our focus is on our heartland within Suffolk, we were delighted to receive national acclaim for our approach to mortgage lending. The 'What Mortgage Magazine' recognised the Society with two awards:
- Best Regional Building Society. This top award recognised that we provide long-term value for customers and our commitment to providing innovative and competitive products.
- First Time Buyer initiative. We were highly commended for our long term provision of shared ownership lending which has enabled people to buy their first home.
New regulations have placed more restrictions on the lending market but our size, flexibility, personal approach and understanding of our members, means that we will continue to enable you to buy your home with mortgages that are appropriate for you.
Partnering to extend our reach
At our Suffolk Wonderwall events we asked local people what they like about Suffolk
Our branch and agency network is at the heart of our operations and we know how important the face to face contact is to you. To make us more accessible to you we have recently moved to larger premises in Halesworth and partnered with new agents in Southwold in the East of Suffolk and Gorleston, just over the border in Norfolk.
However, we understand that it is not always convenient to get to a branch and so we have developed strong relationships with many local mortgage brokers. Like us, they value human contact and have a common sense and individual approach to lending. Brokers are now able to submit mortgage applications online, improving efficiency and strengthening our appeal.
Partnering is also important in our retail savings business and we are proud of the relationship that we have forged with Fred. Olsen, a company which has supported our campaign to keep people saving, providing a great cruise prize as an incentive as well as offering discounts on their holidays.
We are active in the community
We're helping to educate the next generation of savers and homebuyers
It is important for a local business to give something back to its local community. To focus our charitable giving to the concerns that mean most to our community, this year we set up a charitable matched funding scheme whereby we pledge to match the funds raised by our staff who undertake fundraising challenges for local charities. Staff have run, pedalled, walked, climbed and served coffee in the spirit of fundraising. The result was an extra £20,126 for local charities: 50% raised by the staff and 50% contributed by the Society.
Our staff have also been busy raising money for other charitable concerns. Over £4,000 was raised for national charities through branch fundraising efforts and, in a special programme to support the appeal for the rebuilding of the East Anglian Children's Hospice, our staff are aiming to donate £10,000 to the 'Treehouse Appeal'.
Sometimes, the greatest help that we can give is to give some of our time. We have seen new applications this year for our volunteering programme which allows staff time off to assist community groups. Registrations have included help with the 'Big Splash' swimming for those with disabilities, school governor support at a local primary school and an appointment as a trustee of a local charity.
Looking after our staff
The Society takes seriously its responsibility towards its staff and has been complimented for its working culture which recognises the importance of both the physical and mental welfare of our staff.
At Head Office we have maintained facilities that encourage well being including a cycle store, shower room and, more recently, a dedicated Fit for Work room, DVD fitness sessions and relaxation classes. Staff surveys are used to ensure health and well being activities are appropriate to the age and interests of the workforce and policies evolve according to changing needs. 75% of Head Office staff have taken part in fit for work initiatives, such as Wii tournaments, pedometer challenges and weekly walking groups.
Our activities have been recognised with two awards:
- Business in the Community Awards 2010 – highly commended
- Healthy Ambitions Suffolk Business award scheme – gold certificate
To inspire the Society's staff, we have committed to support Caroline Maclean, a Paralympics wheelchair basketball player through to the London 2012 Paralympics. Caroline, who lives in Haverhill, is keeping us abreast of her development and gruelling training regime.
Looking after our environment
In an effort to reduce the paper we use, we are encouraging members to register to receive select communications electronically and over 10% of you registered within the first few months. We have also been able, with the help of systems changes, to send you Individual Investment Statements which show the information for different accounts you hold with us, in one document. Previously, separate statements were sent for each account. The change has meant that we have been able to reduce the amount of paper and envelopes that we use and to save on postage.
We are also seeking to reduce CO2 emissions and time spent travelling by making more use of telephone conferencing.
