Yorkshire Building Society donated nearly £25,000 to its charity partner, FareShare, at its Annual General Meeting (AGM).
Around 1.3 million members were eligible to vote in the AGM, which this year was held on 29 April at the Queens Hotel, Leeds.
Taking part in the meeting is one of the ways members can have a say in the way the society is run.
The mutual gave 35p to FareShare, the UK’s largest food redistribution charity, for each vote online and 20p for each postal vote.
The society is aiming to raise £1m for FareShare by June 2026.
Those attending the AGM in person and watching the live stream online were shown a video which demonstrated how the money being donated by Yorkshire Building Society is funding FareShare’s Building Skills for the Future programme, which will support, equip and prepare over 2,500 people for employment, building important skills to help them overcome financial hardship.
In 2024 the programme supported 660 people, with 66 going on to secure employment.
This was the first AGM led by Annemarie Durbin, who took over as chair last year.
In the society’s 160th year, she told members: “From the beginning, our society was more than just a financial institution.
“It was about having hope in the future, working together and pooling savings so that, in the end, everyone fulfilled their dream of owning a home.”
She added: “Although our activities have grown significantly in size and scale over the past 160 years, our society has remained the same in the ways that really matter.
“Our founding principles and priorities – which are to help people to have a place to call home; to support and build greater financial wellbeing; and to deliver value to our members – these are just as relevant today as they were back in 1864.”
Chief executive Susan Allen gave members an update on the society’s recent performance.
She said: “In 2024 we were bolder and more meaningful with our support, and went further to help people build financial wellbeing and find a place to call home.
“Our average savings rate was 27% higher than the market average, which means we paid our members an extra £430.2m in interest.
“Our members have received an extra £1bn over the last three years.
“Our first-of-its kind £5k Deposit Mortgage has helped over 800 people buy their first home and put down roots. Many of them thought being a homeowner was out of reach, or that they had years of saving for a deposit ahead of them.”
She added: “Being owned by our members, not external shareholders, means we can continue to support communities and provide innovative products that offer real solutions to some of life’s challenges.
“We’re looking to the future with hope and ambition and all the heart and determination that Yorkshire Building Society stands for.”
Allen also reassured members that the society would stand by savers concerned about reports that the Government is considering reducing the cash ISA limit.
She said: “We know many people value having a cash ISA to save for important moments in life, both in the long and short-term. I have written to the Chancellor to explain the impact such a change would have on our members’ financial wellbeing.
“We will continue to raise our voice on issues like this, and we will always strive to do more for our members and help more people save and buy a home.”
Members voted overwhelmingly in favour of all resolutions, including the appointment of board members
