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Building Societies join forces


Added: 6 March 2014

Ipswich and Cambridge Building Societies join forces

Ipswich Building Society, The Cambridge Building Society and the Building Societies Association will be joining forces to host an event at Downing College Cambridge on Friday 28th March. The event will see MPs, MEPs and candidates from across the East of England come together to discuss how building societies are affected by EU and UK laws and regulations and the value building societies bring to local economies and communities.

A focus for discussion will be how Building Societies, such as Ipswich, offer a very different proposition to larger shareholder-owned financial services companies, as well as having a different approach to the communities in which they operate in. It will showcase how Ipswich Building Society has contributed to the economic and social well-being in its region.

Ipswich's 2013 results described a financially healthy mutual which was active in its local communities. With balance sheet growth of 4.3% in 2013 and increased total profits, as well as staff volunteering reaching 323 hours and 372 hours of financial education sessions for local schools.

Paul Winter, Chief Executive, Ipswich Building Society, commented:

"I'm delighted to join forces with The Cambridge Building Society at this event. Building Societies such ours are the challengers to the larger banks in the financial services sector, with the right regulatory and government environment we can offer diversity in the sector through competition. We strongly believe a business is only as healthy as the communities in which it operates in, which is why it is so important that businesses take an active role in the communities they serve."

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