Your AGM questions answered

We've put together answers to some of your frequently asked questions.

If you've a question you'd like to ask that has not been answered below, you can do this by:

  • Email: secretariat@skipton.co.uk
  • Post: The Secretary, Skipton Building Society, The Bailey, Skipton, BD23 1DN
  • Attending the AGM: On Monday 28 April 2025 at 2.00pm, either at The Bailey, Skipton BD23 1AP, or watching our live stream online

Further details can be found on our AGM page.

Frequently Asked Questions

Skipton Group, which includes Skipton Building Society, Connells – our property group (and the UK’s largest estate agency) and other group businesses, delivered Group profit before tax (PBT) of £318.6m. We maintained our financial strength while continuing to invest in our members, Group capabilities, as well as strengthening our executive team.

  • We supported over 20,000 first-time buyers get the keys to their first home, equating to 44% of our new lending throughout 2024.
  • Members benefitted by over £197m given through above market average savings rates – on average we paid our savers 0.74% above the rest of the market average for banks and building societies in 2024*.
  • As part of our commitment to providing free money advice to all of our members, we also saw our skilled colleagues have over 39,000 advice conversations with members to help people make their money work harder and support their long-term financial wellbeing.
  • Donated 1% of Group profit before tax to charitable causes amounting to £3.3m.
  • Through high quality products and propositions, we grew our member base by 3% and now have over 1.26 million members benefiting from Skipton products and services to support their financial wellbeing.
  • Our members enjoyed improved customer satisfaction across our Society, with an overall increase of 1% from the end of 2023. Through our member panel, Trustpilot reviews and colleague listening, we strive to ensure our members’ voices are always heard, so that we can continue to build on the excellent service we provide and are recognised for.

*£197m extra interest from paying 0.74% above the rest of market average for banks and building societies between January and December 2024. Rest of market as defined in CACI’s Current Account and Savings Database, Stock, including fixed and variable rates. CACI is an independent company that provides financial benchmarking data from 40 savings providers, who together held £1.2tn of cash in savings accounts as at end of December 2024.

In 2024, we supported over 20,000 first-time buyers which amounted to 44% of our new lending. This was up from 40% in the previous year, helping them take their first step onto the property ladder. Our Group mortgage balances also grew by 8.2% to £30.9 billion. Additionally, we maintained a strong customer focus, achieving a 91% Homes customer satisfaction rate, building on the 93% recorded in 2023.

Our collective Group data is one of our greatest strengths, helping us shape products that drive innovation and truly meet the needs of our members and society. By harnessing these insights, we’re helping to make homeownership more accessible and enabling more people to achieve their aspirations.

This is why we’ve continued to enhance our product ranges. We’ve made some improvements to our Track Record mortgage, expanding eligibility to new build flats, extending the maximum term, relaxing affordability criteria, and introducing rate reductions and cashback options. These changes have unlocked the door for even more trapped renters, and the impact has been significant, with over £106 million worth of applications in 2024.

In 2024, we continued to help our members make their money work harder, with Society savings balances growing by 8.9% to £28.3 billion. We supported our customers by facilitating 39,216 non-regulated advice conversations and enhancing financial guidance through the launch of our free My Money Review service. To further improve accessibility, we introduced My Money Enquiry, a streamlined, in-branch alternative, ensuring that everyone, regardless of their savings balance, has access to free money advice.

We also rewarded our savers by paying an average of 0.74% above the rest of market average rate for banks and building societies in 2024, up from 0.65% in 2023. To simplify saving, we removed the need for ISA revalidation and became one of the few providers to adopt the new multiple ISA rule, allowing members to open and contribute to multiple ISAs of the same type within their £20,000 annual allowance. As a result of this work throughout 2024, our saver and investor base grew to £1.004 million.

As a member owned organisation it is only right that our members have a say in where we direct our charitable giving. We continue to donate 1% of the Group’s profit before tax to our charitable partners, which last year amounted to £3.3 million going to causes including Age UK and the Skipton Building Society Charitable Foundation. Once again, our members will have the opportunity to choose our next charity partner at this AGM.

Absolutely. We are committed to maintaining a strong branch network and ensuring that each branch provides meaningful value to our members. In branch, we are proud to offer support during life’s key financial moments, providing guidance for savers and access to financial advice to help members achieve their long-term goals.

We have continued to invest in our branches, refurbishing locations in 2024, helping them deliver the best possible experience for our members. Additionally, we have invested in training our colleagues to handle more complex face-to-face queries and provide advice conversations, ensuring members receive expert guidance and the best value from our skills.

A diverse and inclusive culture is an integral part of our core values and is key to the Society delivering a great service to its members. In 2022, we appointed our first female chair in our history. We also recognise that we’ve more to do.

All appointments are made to the Board on the basis of merit, and the appointment process is based on their knowledge, skills, experience, and suitability for the role, so that they can deliver value to the Society and its members as well as meeting the regulatory requirements. In making appointments and reviewing its composition, the Board considers all aspects of diversity, including age, experience, and gender.

We want all people to feel welcome to work at the Society and to fulfil their potential, irrespective of their gender, ethnicity, age, disability, or sexual orientation. We're ambitious to increase diversity further both on the Board and in the Society, but this does depend on finding and developing appropriately qualified candidates. We’ll continue to work hard in this area both in terms of identifying people and developing those who already work for us.