As part of the general "thrift" movement prevalent at the time, Airdrie Savings Bank was founded on 1 January 1835. It opened its doors for business on 21 January 1835 when its first deposits were recorded. The Bank concentrated its activities in Airdrie until 1916 when it spread its wings into Coatbridge. There then followed a period of expansion as further branches were opened in Bellshill (1916), Shotts (1931), Muirhead (1931) and Baillieston (1936). Subsequent branches were added in Whifflet in 1969 and more recently in Motherwell (1997). Whifflet Branch was closed with effect from 2nd November 2007. Each branch operates under the control of a Manager. The Bank's aim is to continue to strive to serve local customers on a face to face basis. Whilst this emphasis on face to face personal service is strong, supporting technology is improved and maintained on an ongoing basis to ensure that services remain up to date.

For most of its history, the Bank has concentrated on looking after customers' savings. During the last 25 years, however, it has widened its range considerably, starting with lending to personal customers and then subsequently providing lending and general banking services for business customers. Over that period, total deposits and total assets have both grown fourfold, while total lending to customers has grown from nil to £33 million.

During our most recent financial year ended 31 October 2007, the Bank earned pre-tax profits of £656,000 and reserves increased to £14.1 million. Total assets as at 31 October 2007 were £130.4 million.
You can download a copy of our 2007 Annual Report in PDF format by clicking here.

The Bank's commitment to the local community remains high. During 1924, the Bank commenced a scheme to encourage school children to save by visiting schools and this is a service which continues to this day. In addition to school visits, the Bank provides places for work experience schemes run by local schools and provides banking services to residential and nursing homes, again through visitations by staff members.

The Bank has no shareholders. It does not require to pay dividends and any surpluses are available for reinvestment for the benefit of customers. The Bank is governed by a Board of Trustees, appointed to represent the interests of depositors and to ensure that the Bank is managed prudently and efficiently. Drawn mainly from the local community, the Trustees give of their time without remuneration and have no financial interest in the Bank's progress. This form of corporate governance is yet another of the Bank's unique qualities.

The Bank is a significant employer in the area and offers the opportunity for rewarding lifelong careers. There is a strong commitment to staff training and development and all of our staff are encouraged to take a lead regarding self development. There is an ongoing programme of formal and informal processes to ensure adequate communication and consultation designed to gain full staff involvement in all staff matters and the Bank's activities. The Bank holds the Investors in People award.