Do Yorkshire Building Society offer competitive products?

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Yorkshire Building Society

The Yorkshire Building Society is the third largest building society in the UK. They have more than a million members and assets in excess of £12.5 billion.

They're a mutual organisation. This means they're owned by, and run for, the benefit of their members and not outside shareholders.

The Yorkshire was the first building society to commit itself to remaining a mutual at a time when some of their rivals decided to become banks. In this and many other ways, they have led the way in demonstrating that membership of a mutual building society brings a whole range of important benefits to investors and borrowers alike.

In mid-1995, they completed a major review as part of our ongoing process to make sure that they're giving their members the best value possible. They considered all the options open to them. They looked at remaining mutual, being acquired or converting to a public limited company. The views of a sample group of members and staff as well as the financial community and regulators were all canvassed. The results highlighted three major requirements for success - competitive products, a high level of security and first-class customer service.

The review confirmed that maintaining their mutual status was the option that gave the Society the best opportunity to meet their members' needs over the longer term.

By remaining a mutual, they offer a highly competitive and attractive alternative to banks. As a mutual we are answerable to their members, not outside shareholders. This crucial difference helps determine the nature of their products and services.