Furness Building Society to Ramp Up Support for Local Communities
Furness Building Society has announced a new long-term commitment to reinvest 5% of its annual pre-tax profit back into the local communities across Cumbria and Lancashire.
Furness will support a wide range of local causes and charities through more donations, by providing colleagues with greater opportunities to volunteer their time, and by applying its skills and expertise as a locally-led building society to help local community groups thrive.
The initiative reflects Furness Building Society's mutual values which mean success is shared more widely by investing in people and communities. As ‘mutual’ organisations, building societies are shaped by their members - rather than external shareholders - enabling them to reinvest profits directly back into their services, products and the local area.
Furness Building Society has a long history of supporting its communities, with a recent report from the Building Societies Association (BSA) highlighting that Furness’ high street presence generates a £9.5m impact on local people annually. This includes regular donations to Barrow Foodbank and supporting charities through its Community Affinity Accounts, which enable members to save while helping local causes close to their hearts.
The new initiative strengthens this commitment by creating a dedicated framework for delivering meaningful social value year on year. So far this year Furness has donated £XXX and volunteered XX hours to a variety of good causes across Cumbria and Lancashire.
Simon Broadley, Chief Executive of Furness Building Society, commented: “As a mutual, our purpose has always been about more than providing savings and mortgage products. We exist to help people thrive, and that means investing in the communities our members call home.
"Our new initiative is a tangible demonstration of that commitment. By aiming to reinvest 5% of our profit into local causes each year, we can support the incredible work already taking place across our region, while giving our colleagues the opportunity to make an even greater difference by volunteering and sharing their expertise.”
Matthew Burden, Manager at Barrow Foodbank, said: "Every day we see first-hand how important community support is for local families facing difficult circumstances. Furness Building Society has been a fantastic supporter of Barrow Foodbank, and this year's donation of more than £4,500 will help us lease a new electric van that will make a real difference to how we collect and distribute food across our community.
"It's encouraging to see a local organisation making such a long-term commitment to giving back. Its new initiative shows that Furness isn't just talking about supporting local communities – it's making that commitment part of how it does business."