Loading…

Guest blog: Melton Building Society on putting purpose first

Rachel Kolebuk, Chief Customer Officer at the Melton Building Society, outlines how community commitment lies at the heart of the Society's purpose, and the impact it has on members and society more widely.

Rachel Kolebuk, Melton Building SocietyAt Melton Building Society, our journey has always been about more than just financial services. As we celebrate the 25th anniversary of our charitable foundation, we're reminded that our true purpose lies in building thriving communities. This purpose guides every decision we make, from the services we offer to the initiatives we support. In this blog, we delve into the heart of our community commitment and the impact it has on both our members and broader society.

Why have a clear purpose?

There is plenty of research around why having a clear purpose is important and the difference it can make to a business, with some consistent benefits that if done well, include:

  • Everyone in a business on board and understanding the common goal – which can support a drive towards stronger financial results and growth

  • Attraction of new and more existing customer types who are also motivated by seeing a clear purpose in action

  • Motivating for colleagues if they can get involved and feel they are making a difference, leading to improved colleague engagement and wellbeing 

Back in March 2022, we set about modernising the Melton Building Society brand, but on its own that wasn’t enough to support the vision to build a modern mutual society.  The missing bit was the new purpose we put in place and since then have been living and breathing it to ensure it just doesn’t look great on the wall of our offices!

The spirit of community

To us, community is not just a word; it's a reflection of our collective strength and spirit. It means coming together to support one another, sharing resources, knowledge, and time to uplift everyone. We endeavour that our involvement with our members goes beyond transactions and numbers; it's about creating meaningful connections and contributing to the well-being of the communities we serve.

Celebrating 25 years of our community foundation

Our community foundation represents our commitment to welfare. Over the past 25 years, it has been at the forefront of our efforts to address local needs, providing financial support and resources to various initiatives enhancing community life. The foundation's work is underpinned by our belief that strong local communities are essential to a healthy wider society.

The community rooms at our recently refurbished Mutual House have become central to this support. These spaces host a wide array of events and gatherings, from educational workshops to community meetings, all free of charge. The popularity of the rooms highlights their value towards building local connections and encouraging collaboration among community members.

Empowering our colleagues through volunteering

Volunteering is another pillar of our community engagement. We're so proud of the thousands of volunteering hours our colleagues contribute each year. This initiative not only aids the community, but our colleagues have also reported how it has enhanced their own well-being and sense of purpose. It's a win-win: communities thrive with the support they receive, and our team members experience the satisfaction that comes from effecting positive change.

Making a difference alongside MADMAC 

-	Chief Executive Officer of Melton Building Society Simon Taylor with Amanda Heath CEO of Melton and District Money Advice Centre and James Sherrenham Education Officer at the partnership launch in 2022One of our most successful initiatives has been partnering with MADMAC (Melton and District Money Advice Centre).  As a local debt charity in Leicestershire, MADMAC are committed to using their expert skills and knowledge to educate around debt prevention and money management, the collaboration we have created together is focussed on enhancing financial literacy within the community across all ages.

Through a series of workshops, together we target a wide audience range, starting at primary school age children. The goal of these efforts is to empower individuals with the knowledge and tools to manage their finances effectively, thereby enabling them to make better financial decisions for their future.  We are incredibly proud to have already supported over 10,000 children, young adults and adults since launching our partnership in 2022 on this very important topic.

Amanda Heath, Founder and Manager of MADMAC, spoke about the benefits of the partnership within the Melton community, saying, “Our collaboration with Melton Building Society has been really impactful. Our contact and engagement with the local community is making a tangible difference. From our money advice sessions to workshops and assemblies in schools, together we’re equipping our community with the tools they need for better financial management and a more prosperous future.” 

As we look to the future, our focus remains on deepening our community connections and continuing to serve as a force for positive change. The success of our charitable foundation, the enthusiasm for our community rooms, the dedication of our colleagues and volunteers, and the impact of initiatives like MADMAC are all milestones on this journey.

At Melton Building Society, we believe that we’re more than a financial institution; we’re a community partner, committed to putting roofs over people’s heads and helping them to make the most out of their savings, to best suit and enhance their lifestyle. 

Our aim is to continue building stronger, more resilient communities, because at the Melton, we believe that for communities to thrive, we must help each other to succeed – that is the basis for our purpose.


Find out more: Visit Melton Building Society


 

You may also be interested in...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Consumer Duty: Navigating Board Reports

A free webinar hosted by BSA Associate, docStribute docStribute and Woodhurst are collaborating to bring you this webinar series. Following our pre...

BSA Card
  • BSA.Event Event

Building Societies Annual Conference 2024

Building Societies Annual Conference 2024 8th -9th May, Manchester   The Building Societies Annual Conference is the leading event in the secto...

BSA Card
  • BSA.Event Event
  • Audit & Taxation

Audit, Risk & Regulation Autumn Series

This year's annual update returned in a brand new format with a series of topical webinars covering key areas of audit, risk and regulation. This...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Consumer Duty: Linking Customer Outcomes to Customer Experience

A free webinar hosted by BSA Associate, Protiviti This webinar will explore ways firms can effectively test, monitor, and report customer outcomes ...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Annual Update & Networking for Boards

This autumn, the BSA is running its first event designed specifically for Board Members (Exec and Non-Exec) and Board attendees. This in-person eve...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

BDO's Financial Services' NED event: Consumer Duty Board Champions

BDO’s Financial Services’ team is delighted to invite you to our first FS NED event for 2024, to discuss the Consumer Duty’s ("the CD") next phase of ...

BSA Card
  • BSA.Event Event
  • Prudential Regulation

Preparing for successful regulatory visits

Two half-day sessions on 24 & 25 January 2024

  • BSA.IndustryResponse Industry Response
  • Conduct Risk & Regulation

GC23-2 FCA Guidance consultation on financial promotions on social media

Our response to FCA GC23-2

BSA Card
  • BSA.PressRelease Press Release

The beauty of simplicity in a complex world

Speaking on the first day of the Building Societies 2023 Annual Conference at the ACC in Liverpool, BSA Chief Executive, Robin Fieth, talked about the...