Building Societies can lead the way

Wouldn’t it be great to see the building societies flood the Good Business Charter membership?

This was a comment at a webinar I did for building society Chief Execs at the end of last month about why they should consider Good Business Charter accreditation.  As a sector that does not have its own specific accreditation, we would LOVE to provide that service.  We are grateful to the BSA for allowing us airtime to explain how the Good Business Charter works and why we think it is important.  The GBC gives responsible organisations recognition for the great work they are doing AND provides essential identification so that the majority of the public, who care about such things, can support them.

I was also delighted to contribute a guest blog for them on what we believe is a simple yet effective way to get recognition for your good business practices.

Earlier this year we welcomed the West Bromwich Building Society as our first building society member.  Chief Executive Jonathan Westhoff said on receiving the accreditation:

We’re proud to be the first financial services company to be accredited by the Good Business Charter and would encourage others to commit to following the charter. We are committed to being a force for good and conducting business responsibly to benefit both our customers and our colleagues.

The building society sector is no stranger to prioritising the social aspect of doing business and it is great news for them that recent research seems pretty clear that the public wants to see this too.  Yet it also means many more businesses are working on their responsible business practices and that building societies therefore may be at risk of losing the clear water between them and other businesses.

Robin Fieth, Chief Executive of the Building Societies Association reflected that:

“Since their foundation in the industrial revolution, building societies have existed to provide a safe home for members’ savings and help millions of members buy their own homes.  In a world where the relationship between business and society is too often at odds, the Good Business Charter provides a straightforward expression of the values and behaviours that underpin the role and purpose of responsible business in benefitting society.”

We look forward to welcoming other building societies to join the West Brom and sign up to our straightforward expression of what a responsible business looks like in practice!