It is widely recognised that diversity is a business fundamental, enabling a climate of trust, innovation and creativity, and reflecting the customers and communities businesses serve. The Women in Finance Charter has helped to drive progress in increasing the proportion of women in senior roles and today’s publication is a welcome chance to review the progress of firms against their targets. 

It is positive that 71% of the 210 signatories have either met their targets or are on track to meet them, although overall growth in average female representation in senior management is slow (up from 36% to 37%), and there is still work to be done to ensure progress continues 

The building society sector has made encouraging advancements in recent years, and the Review highlights how building society signatories’ female representation in senior management is 44%, compared to the average of 37%, second across all sectors.  

This progress was also reflected in the recent Bateman Collins Report into diversity which reported an increase of women in leadership roles (39% of board roles are held by women in 2025 vs 36% in 2024), testament to the focus the sector has given to diversity and inclusion. 

The Annual Review also highlights examples of good practice within the building society sector:  

• Yorkshire Building Society has combined the Women’s Network and ManKind Health Group into one Gender Network, driving gender parity and gender education.  
• Leeds Building Society has piloted sharing of behavioural interview question in advance to all candidates. 
• Cumberland Building Society’s Belonging Strategy which ensures that all colleagues are visible and heard. 

The Building Societies Association has long championed diversity and inclusion, including social mobility and diversity of thought, and is proud to have been a signatory of the Charter since 2017. In our 2025 update to HM Treasury, we were pleased to report that we have exceeded our target with women making up 57% of our full-time senior management team (this figure currently sits at 63%.) 

Commenting on the publication of the HMT Women in Finance Charter Annual Review, Sarah Harrison, Chief Executive of the Building Societies Association, said: 

“The Women in Finance Charter continues to drive positive change. Building societies are leading the way with higher-than-average female representation in senior roles but we know there is more to do to maintain momentum and deliver lasting change. 

“As a longstanding signatory of the Charter, the Building Societies Association is proud to be exceeding its own targets and to champion diversity, inclusion and diversity of thought across the sector.”