Scottish Building Society
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About Scottish Building Society
The Scottish Building Society traces its origins back to 1848 when it was established as the Edinburgh Investment Company. Currently commemorating its 175th anniversary, the Society operates as a mutual organisation, with ownership and operation geared towards benefiting its members. Individuals who open savings accounts or hold mortgages with the Society automatically become members.
Unlike numerous financial institutions, the Scottish Building Society does not have external shareholders and is solely accountable to its members. As a result, the Society does not distribute dividends, allowing any surplus profits to be reinvested for the benefit of its members. This approach ensures that the Society remains financially robust, with sufficient funds available for future investments.
The Society recognises its crucial role in providing a secure place for members' savings while offering a diverse range of mortgage products to suit their specific requirements. By actively seeking feedback from its members, the Scottish Building Society aims to continuously improve its services and products, while also maintaining its existing strengths.
Additionally, the Society is deeply committed to supporting the communities in which it operates. Through the Community Charity of the Year initiative, members have the opportunity to choose the beneficiary for the Society's support on an annual basis. This commitment highlights the Society's dedication to giving back to the communities it serves.
Comapny Vision & Values
Their values represent the fundamental beliefs upheld by the business. These values serve as a guiding compass, directing the brand's narrative, actions, behaviors, and decision-making processes as they strive to achieve their vision. The company is driven by the principles of "People First, Solutions for All - Powered by Purpose."
From the moment of its establishment, the business has remained unwavering in its commitment to its purpose. Their primary focus is on assisting individuals in Scotland and beyond to acquire homes and save for the future through uncomplicated financial products. They take pride in providing these services in a reassuring and amicable manner, staying true to their foundational mission.
The organizational culture of the company revolves around being friendly, inclusive, and open, fostering an environment that actively encourages employees to bring their authentic selves to work. Their culture is supported by an Employee Values & Behaviors framework that underscores kindness, ambition, and purposefulness as essential attributes within the company.
What Makes Scottish Building Society Different?
The Scottish Building Society operates as a mutual building society, indicating that it is owned and operated for the benefit of its members. Despite not being widely known, it holds the distinction of being the oldest existing building society worldwide. Its primary focus is assisting individuals in saving and purchasing their first and subsequent homes at various stages of their lives. The Society comprises a dedicated team that prioritizes the growth of the organization while upholding its core values.
At the Scottish Building Society, the people within the organization are regarded as its most valuable asset. The personalized service provided by the Society is made possible by its exceptional workforce. The Society maintains strong connections with the communities in which its employees reside and work, striving to ensure that its workforce is representative of its members.
The Society actively seeks out talented individuals who are interested in joining a company where they can truly make a difference. Its culture is characterized by friendliness, openness, and inclusivity, with a strong emphasis on encouraging employees to express their authentic selves at work. By joining the team, individuals can expect a fantastic work environment along with opportunities for personal and professional development. Currently, the Society is undergoing an exciting transformative journey, and the successful candidate would have the chance to be a part of it.
The Future
The Society is currently undergoing a transformative journey, embarking on several thrilling initiatives aimed at improving its services for members and increasing operational efficiencies.
In recent months, the Society has made substantial investments in its Branch network. Renovations have been completed across all six branch locations, aligning them with the Relationship Centre model. The primary objective of this model is to foster and sustain robust relationships with members, ensuring they receive the finest service and support available. Notably, the flagship Edinburgh Branch will relocate to a new site on Frederick Street starting from the 1st of June. The Society eagerly anticipates continuing its support for members in Edinburgh and beyond from this exceptional new location.
If you would like to chat to the team at Eden Scott, you can find them here.