Beverley Building Society

Heralding ‘exciting new future’ at this year’s AGM

We were delighted to welcome a selection of members and other friends of the Society, including a number of local businesses, along to our Annual General Meeting.

Chief Executive Karl Elliott (left) and Chairman Brian Young speaking at the AGM
Chief Executive Karl Elliott (left) and Chairman Brian Young speaking at the AGM

And we’re particularly pleased at the positive reception they gave – not just to our financial performance, but how we plan to mould that success into our new ‘profit with a purpose’ strategy for the next few years.

In 2017 we achieved one of our best ever financial performances, with our second highest pre-tax profits in five years.

However, our new Chief Executive, Karl Elliott, introduced himself to AGM attendees and explained the important thing is how we use this strength in the future, to serve our members and the region where we are based.

“I’ve worked for mutuals like Beverley all my career so they must be a bit of a calling for me, and it’s because they’re not just about products and services and money and profits, but about offering care and support with the best intentions, and being able to make a positive difference to people’s lives,” said Karl.

“I’m really delighted to be here at the Beverley and my first few months have flown by, as I’ve got to know the Society, the town and some of the faces in the room. My observation is that Beverley is a thriving, energetic town with a real buzz about it and lots of future potential, as well as a rich heritage. I think there really is something good here that we can get involved in as a building society.”

He also explained that the Society’s financial strength and highly committed team are an ideal platform for providing more people in our heartland with the personal service and support they need to build better futures for themselves, their families and the communities they live in.

“These results are important to us, not just financially, but because of the potential they offer for us to revitalise our mutual roots, ensuring that our products, customer care and the role we play in our local community are more relevant than ever,” he said.

“Our Society was created over 150 years ago by the revolutionaries of their day – driven by their vision of making homeownership a possibility for all.

“In today’s financial marketplace, where there is ever more uncertainty; from affordable housing, to planning for later life, there is a growing need for a financial provider that is accessible and can better understand and respond to customers’ changing needs. As East Yorkshire’s only independent Building Society, we see it as our mission to do just that for people across our region.

“It’s our team of people who bring this place alive and I’m very grateful to them for being as committed as they are to the Society and our customers. They make sure that every person we deal with is treated as an individual by taking the time to listen and understand.

“It is this genuine care which will continue to make us different from others on the high street. While others are moving to more automated services, and decision-making based on algorithms, our team take the time to get to know people as individuals, and help them achieve their goals wherever possible.”

Highlights of our 2017 results:

Strong platform for growth

Meeting people’s homeownership needs

Prudent cost control

The future

Karl concluded: “I feel genuinely privileged to be able to announce such a strong set of annual results during my first year as Chief Executive of this thriving organisation.

“Thanks to the outstanding customer service our dedicated team deliver, customer satisfaction and retention are consistently high. Over the coming months and years we will be seeking an ever-deeper understanding of what our current and future customers really need, so that we can remain relevant and able to meet their requirements.

“We will be seeking opportunities to further improve the products and services we provide to both savers and borrowers during 2018, with a focus on remaining relevant to families across the region who are looking for a safe and reliable home for their savings, and participating in those areas of the mortgage market where we can make a positive difference for homeowners and first-time buyers.”

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