How your Board runs the Society
The Society is run by your Board of Directors. This Board is fully committed to adopting best practice in Corporate Governance and to fulfilling its legislative and regulatory responsibilities.
Corporate governance is the system by which organisations are directed and controlled.
What is 'best practice'?
The UK Corporate Governance Code (the ‘Code') was first issued in June 2010 and updated in 2018. A new version of the Code was issued in January 2024, but reporting on the new arrangements will not be effective before accounting periods beginning on or after 1 January 2026.
The Code is specifically addressed to publicly quoted companies; however, the Society has readily embraced its provisions, even though we are not obliged to do so. The Code represents best practice within the industry and the Board of Skipton Building Society is committed to adhering to it in so far as it applies to building societies.
The Society's ‘Corporate Governance Report' is published each year in our Annual Report & Accounts.
You can read the full report on our Financial results page.
As a mutual organisation, we are owned by our members who are at the heart of everything we do. We are run by a Board of Directors who are responsible for deciding our strategy. They act as guardians, safeguarding Skipton's assets so that we can continue to offer our members peace of mind, combined with products that offer long term value for money, and a high standard of personal service.
Our Rules and Memorandum
The Rules of the Society set out how Skipton operates, while The Memorandum outlines the Society’s activities, purpose and extent of its powers.