At their recent Annual General Meeting, members of the Tipton and Coseley Building Society helped raise over £400 for Black Country charities, with AGM participation up by 9.3% compared to last year. Each vote at the AGM contributed to this charitable effort, underlining the society’s commitment to local causes.
Adam Evetts, chief executive of the society, reported over £47,000 donated to various charities in 2023, including the Black Country Food Bank and the Midlands Air Ambulance Charity. “Supporting and making a positive contribution to our local community is very important to us as a society,” said Evetts, emphasizing plans to expand these activities.
Despite economic pressures such as multiple interest rate increases by the Bank of England in 2023, the society achieved a record year in mortgage lending, with assets growing to over £600m.
Jeremy Cross, chair of the society, attributed this success to competitive products and exceptional customer service, noting: “The society’s profits are not paid to shareholders but are instead retained by the society to support future growth and investment.”
Evetts also highlighted workplace initiatives focused on diversity, inclusion, and staff well-being, contributing to a low staff turnover rate of 4% at the end of 2023. “We’re already seeing the benefits of this investment in our people,” he remarked.
Looking ahead, despite the competitive market, Evetts expressed confidence in achieving further growth, supported by the society’s strong financial foundation and clear strategic direction. Cross reflected on the society’s long history, stating: “The good thing about the society being 123 years old, is that we are an institution that has seen it all before. We can therefore look to the future with confidence.”
