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FinanceVernon Building Society gears up for its 100th birthday

Vernon Building Society gears up for its 100th birthday

Vernon Building Society turns 100 on March 27 and is proud to have the same values as it did back in 1924.

Vernon Building Society head office in Stockport Most notable is the provision of customer service and an unwavering commitment to the high street, where it would consider opening new branches if there was demand.

Consumer rights group Which? revealed that banks and building societies have closed 5,818 branches in the last nine years – more than half the branches that were open at the start of 2015.

Bucking the trend

However, while other banks and building societies are disappearing from high streets, the Stockport mutual is mid-way through a £1.1m investment into its high street branch network. This includes its refurbished St Petersgate HQ in Stockport, due to complete in February.

Steve Fletcher square The Vernon’s dedication to its members and partners is paying off, with the society seeing growth last year of 14.1% on customer deposits and 10.4% on the mortgage book.

Steve Fletcher, chief executive (pictured left) said: “For 100 years, we’ve been delivering a personal service through our branch network, and we hope to do so for the next century.

“We’re absolutely committed to the high street. It’s why we’re bucking the trend by investing in our branches while others are closing them, and also by refusing to use automated answering services and overseas call centres.

“I can also reveal that we’re open to potential new branch locations, collaborations and banking hubs in the future.”

Vernon Charitable Foundation

To mark its 100-year milestone, Vernon Building Society has launched the Vernon Charitable Foundation. Set up with more than £100,000 in the fund, it marks a step change in the Vernon’s charitable giving which aims to support local enterprise and grass-roots charitable work based in Greater Manchester and Cheshire.

As part of its centenary celebrations, The Vernon is also teaming up with a respected historian to reveal some of its rich history.  It hopes to uncover more about the Society’s founder, the pivotal role it had supporting returning WWII soldiers to buy their own home in 1945 and how it helped Members financially survive the 2008 economic downturn.

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