Scottish Building Society celebrates 175th Anniversary

Paul Denton (CEO at Scottish Building Society)

FOUNDED in 1848, Scottish Building Society is celebrating 175 years of providing savings and mortgages products to thousands of members across the UK.

The landmark anniversary retains the Society’s position as the oldest remaining building society in the world, having always operated as a mutual organisation – owned by and run for the benefit of members. Originally established as the Edinburgh Property Investment Company, the organisation first operated from 6 York Place in the capital city. 

Having significantly grown since then, Scottish Building Society now has Relationship Centres across Scotland with a current balance sheet of circa. £650 million.  

Last year, its Aberdeen, Troon and Inverness Relationship Centres underwent a significant refurbishment, underling the organisation’s commitment to Scotland’s high streets. The refurbishment of the Galashiels branch is set to complete in March 2023 and Scottish Building Society will re-locate its Edinburgh hub to a new city-centre location later this year.

Having operated throughout two world wars, economic recessions and health pandemics under the leadership of 48 prime ministers, Scottish Building Society’s commitment to providing uncomplicated financial products has never wavered. The 175th milestone will be celebrated by both staff and members throughout the year with a range of community initiatives, Relationship Centre events and tie ups with Edinburgh Rugby, as its lead sponsor.

Paul Denton, CEO at Scottish Building Society, said: “Although times may have changed since 1848, our mission to help our members save money and buy their home has remained consistent. I am incredibly proud to lead our team as we celebrate a momentous milestone in Scottish Building Society’s history, reflecting on our achievements whilst also embracing a new chapter. 

“Throughout the years, our products have changed to reflect current economic landscapes and lifestyle habits and that agility has kept us relevant. In a digital era, we pride ourselves on still ensuring that our members can easily speak to a member of our team, either face to face or over the phone, and that will remain a core part of our operations in the decades ahead.  

“The trust in our services from our members is what keeps the organisation alive, and we are grateful for their longstanding support. This year, we’re looking forward to welcoming our members, community groups and local charities as we celebrate 175 years on Scotland’s high streets.”

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