A Home For Your Savings, Saving For Your Home
Posted by Kevin Gray 28th November 2019
My colleagues argue that the above phrase neatly describes the services that Building Societies provide to their Members. It is true that people place their hard-earned money in Bath Building Society’s safe keeping as it’s more secure than just sticking it in the teapot or under the mattress. It’s a matter of fact that no-one has ever lost money by saving with any Building Society. However, the appropriateness of the above slogan as a mutual sector mantra is limited by the fact that people also save with banks and they also save for many different reasons other than just for purchasing homes.
At Bath Building Society, we use the strapline ‘We’re different because you are’. This recognises the fact that different people have different requirements for savings and mortgages and that we have to offer a different service from our competitors as a result. We have to be more creative in the design of our products, we have to be more flexible in our decision making and we have to offer our customers a personal rather than ‘call centre’ type service. The Society has moved on to develop a social purpose statement that brings focus as to why we are here as a business and we use this to drive our strategic thinking. We believe that we primarily exist to change lives by both promoting saving and by making people’s dreams of home ownership come true. Delivering on this statement is the difficult part but we’re on the case!
The Society is proud to be sponsoring financial education seminars to sixth formers in Bath state schools and it intends to expand its future involvement in this area. The benefits of saving from an early age are clear to see. Start them young and it’ll give them a habit of a lifetime. To encourage saving for the very young, the Society is about to announce an enhanced rate of interest on its children’s account. To encourage the 18-35 age group to save, it is launching a new regular savings account with a very competitive interest rate. The Society will allow more local young adults to take advantage of generous government assistance by offering its own Lifetime ISA. Our overall aim is to encourage early saving towards getting deposits together for future home purchases.
Bath Building Society does provide a home for people’s savings and some of those people are indeed saving for a mortgage deposit. We are determined to promote a culture of saving and to do our utmost to help people into homes that they own themselves. If you are interested in knowing more about what we can offer you, your friends or your family members, why not call us on 01225 423271.