Leeds Building Society Halifax

Leeds Building Society is the fifth largest in the UK and serves approximately 719, 000 customers across the UK who together hold £9.9 billion in savings balances. In 2015 their average interest rate paid to savers was 1.78% (1.2% UK average) and their net mortgage lending was £1.4bn (£1.1bn 2014).

History[edit]

The society was registered as the Leeds and Holbeck (Permanent) Building Society in 1875, though the society originated from a group called the Leeds Union Operative Land and Building Society which formed in 1845. The society was renamed to Leeds Building Society in September 2005. It has 65 branches across the UK, with 29 located in Yorkshire and it has a branch in Gibraltar and a branch in Dublin. Its head office is located on The Headrow in Leeds city centre. It should not be confused with the defunct Leeds Permanent Building Society, which was also known as The Leeds, and merged with the Halifax Building Society on 1 August 1995.

In July 2006 Leeds Building Society was voted "Best Building Society" by Mortgage Magazine. This award is judged by an independent panel and takes into account long term value, customer service, how easy products are to understand and commitment to mutuality, as well as competitive interest rates.

On 1 August 2006, following approval by the Mercantile members and confirmation by the Financial Services Authority (FSA), Leeds Building Society merged with Mercantile Building Society. Mercantile members overwhelmingly supported the proposal at the Society’s AGM at the end of April with 97% of the votes in favour of the merger. It is a member of the Building Societies Association.

The Leeds Building Society is also the main shirt sponsor of the current Super League Champion rugby league side Leeds Rhinos.

Resources

It's Interesting

  • A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom (UK) and several other...
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