Mutuality

As a mutual organisation, we're owned by our members, not shareholders

When you save or take out a mortgage with us, you become a member of Skipton Building Society. This means you have a say in how the business is run. We're passionate about putting the needs of our members and their communities at the heart of everything we do.

How mutuality works

We were founded in 1853 to help bring together people saving for the future and those buying their own homes. The way we work is known as mutuality and it underpins everything we do.

We work hard to help our savers put money away for their future and we use the money they save with us towards helping other members own their own homes.

Our mortgage members then pay back what they've borrowed with interest. The interest they pay goes towards helping savers grow their money through giving them interest.

Because we don't have shareholders to pay, we invest our extra profits back in to the Society for the benefit of our members.

As a mutual organisation, we’re owned by our members, not shareholders

We go the distance

We aim to provide long term good value to help you plan for your future. Between Feb 2012 and Feb 2017, the average savings rates we offered have been consistently higher compared to the market average.

Skipton Building Society average savings rate compared to the market average for banks and building societies

Date Feb 2012 Aug 2012 Feb 2013 Aug 2013 Feb 2014 Aug 2014 Feb 2015 Aug 2015 Feb 2016 Aug 2016 Feb 2017
Skipton Building Society rate 2.56% 2.66% 2.53% 2.15% 2.03% 1.93% 1.68% 1.68% 1.63% 1.49% 1.25%
Rest of market 1.88% 2.03% 1.95% 1.74% 1.50% 1.35% 1.26% 1.17% 1.02% 0.90% 0.73%

Source: CACI’s CSDB, Savings stock. The products compared include a mix of fixed and variable rates, which change from time to time.

At Skipton Building Society, we've been helping our members plan for their future since 1853

We're the listeners

Your feedback makes an important difference to how the Society is run, which is why we continually ask our members for their opinions on how we are doing.

There are lots of ways that you can get involved. Find out how you can help us work together.

We do the right thing

Looking after people’s savings and enabling home ownership is at the very heart of what we do as a mutual building society. Being there to help our customers plan for their life ahead is our long term focus.

We care about you

We think it's important to support our local communities and give something back to those who make a difference.

Supporting customers with dementia

As a mutual organisation, we aim to offer the best support we can during every stage in life. 

Logo: Grassroots Giving

Grassroots Giving 2017

Skipton's Grassroots Giving programme is offering 164 pots of £500 to small community groups in 2017.

Annual General Meeting 2017

Our AGM was held on 24 April 2017: 69,810 of you had your say by voting on matters related to running the Society.

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