The Building Societies Association (BSA) is delighted to be recognised for its responsible business practices through accreditation by the Good Business Charter.
The Charter, which seeks to raise the bar on business practices, is a simple and effective way to measure an organisation’s values and ethics.
The BSA was awarded the accreditation after demonstrating how its ethos of doing business in a socially responsible way is applied throughout the organisation, from paying the real living wage and commitment to colleagues’ work-life balance, to its prompt supplier payments, transparent tax arrangements and focus on minimising its impact on the environment.
Commenting on the accreditation, Robin Fieth, BSA Chief Executive said:
“The Good Business Charter represents businesses which promote and implement responsible business practices and that’s why we’re so proud to be part of it.
“At a time when people are caring more about the types of organisations they work for and do business with, this accreditation is a simple way to demonstrate our values-driven approach to the way we behave.”
Jenny Herrera, CEO of the Good Business Foundation that runs the Good Business Charter accreditation said:
"We are so pleased that the Building Societies Association has joined the Good Business Charter, one of the first membership associations to do so. This puts them in an excellent position to champion the Good Business Charter to their building society and credit union members.
The West Bromwich and Saffron building societies have already received Good Business Charter accreditation and we hope the recognition they have achieved through impressive media coverage of their accreditation will inspire other building societies to take this opportunity to show to their employees, customers and suppliers that they are serious about responsible business."
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The Building Societies Association (BSA) represents all 43 UK building societies, as well as 6 credit unions. Building societies have total assets of over £435 billion and, together with their subsidiaries, hold residential mortgages over £338 billion, 23% of the total outstanding in the UK. They hold over £297 billion of retail deposits, accounting for 17% of all such deposits in the UK.
Building societies account for 37% of all cash ISA balances. They employ approximately 42,500 full and part-time staff and operate through approximately 1,380 branches.