Bringing Building Societies, Community Champions and Government Together

2 February 2024

Lorna Campbell

Glory

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Hard to believe it’s the fifth week of 2024.

It feels like only a few short weeks ago we were in the midst of organising what turned out to be an incredibly worthwhile event for the Building Society sector at an excellent venue in the heart of Leeds - Leeds Building Society’s Head Office.

Bring together 84 attendees - including CEO’s, CCO’s, COO’s, Chair/NED, and Heads of Department from 27 Building Societies, a Credit Union, a number of industry sector professionals, representatives from the Building Societies Association (BSA), add in a Government Minister - and what do you get…a great opportunity not only for the sector to come together and discuss how they can provide a solution to high street banking, but also an opportunity for other organizations to show how they too can play a part in contributing to a positive purpose-driven approach to community banking.

How it Started…

As we were putting together the agenda, we wanted to focus on banking and the high street, and what that means to the Building Society sector. It was important for us to have a diverse range of speakers from Community Catalyzers, Parliament, to the Retail sector, and leading Building Societies.

We wanted an opportunity for everyone to take part in a discussion on invigorating the community, identifying where and how does banking strategy and high street change support or impact, bringing together those from both sides to look at what the challenges are (for everyone) – impact of banking removal from the high street on SME’s/communities and the vulnerable - and what could make this position better.

Collaboration is Key

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We brought together inspiring speakers to talk about our high streets and this created a strong connection to the broader Building Society sector, highlighting the positive activity that is taking place, and the overall positive support of the communities where they are based - supporting those who are vulnerable and those who don't necessarily want to go 100% digital - which ultimately means a need for continued and regular access to cash.

Our Q&A was a chance to discuss the relationship between a successful high street, and specifically that relationship with the Building Society.

Addressing the Challenges

Having the Round Table with Kevin Hollinrake MP - the Parliamentary Under Secretary of State (Minister for Enterprise, Markets and Small Business), the BSA, and the Building Society CEOs, provided an opportunity to discuss the challenges facing high streets and the impact on consumers, entrepreneurs, and established businesses. We wanted to align the Round Table session to the title of the event – ‘Invigorating the Community | Bringing Building Societies, Community Champions and Government Together,’ with participants being asked, (amongst other things), how do building societies see the connection to their local community developing and growing?

Branch Strategies

The afternoon sessions provided us with some interesting statistical insight from the BSA around branch usage and strategies, and a very strong business case for branches based on data was presented.

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The topic, ‘What’s your Branch Strategy?’ was discussed and how branches can remain a key point of value for Building Societies, helping to build strong community connections, with technology enhanced branch strategies improving members experience and playing a crucial role in delivering the mutual ethos, including what this all means for current and future branch design.

How a leading Building Society CEO is putting branches and communities at the heart of delivering member value was an inspiring end to the day, ahead of the Fireside Chat with senior Building Society leaders.

What’s Next?

With a combination of inspiring speaker presentations, insightful discussions at our CEO Round Table, a vibrant Q&A session, and thought-provoking Fireside Chat, we hope it did indeed meet the brief for everyone on the day - 'Invigorating the Community | Bringing Building Societies, Community Champions and Government Together', helping to create new thinking, supporting the engagement of a highly positive and growing number of building societies who are finding ways to innovate and develop their services, particularly keeping cash available that helps maintain a high street banking proposition.

The solution? watch this space…

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