Skipton Financial Advice Mutuality

What does mutuality mean?

As a building society we look after our customers through our mutual values. Here we explain mutuality and why being a member could be a good thing for you.


Being a mutual organisation means that instead of having shareholders, we’re owned by our members (if you have a savings or mortgage account with us, you can become a member). Therefore, we make sure they remain central to everything we do. Since 1853, our mutual values have supported our way of working and helped bring together people saving for the future and those buying homes.


Who are our members?


To become a member of Skipton Building Society, you need to meet one of the following criteria:


  • You hold a savings account with the Society
  • You’re an individual borrower who holds a mortgage with the Society
  • You’re a trustee who operates a savings account with the Society
  • You hold a Permanent Interest Bearing Share (PIBS) in the Society.


Key benefits of mutuality

Your voice is heard

If you’re a member of Skipton, you get to have your say in how the Society is run. You can put forward your views on the direction of the business by voting for directors, policies and rules at our Annual General Meeting (AGM). This could help make a real difference to the Society now and in the future.

We put money back into the Society  

Because we don’t have shareholders to pay, extra profit we make can be invested back into the Society – for the benefit of our members. This helps us offer higher rates for savers. Between February 2012 and November 2016, the savings rates we offered were consistently higher compared to the market average for banks and building societies.

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


We really care about our members

We care about our members and their loved ones, and will always put them first. Not only that – we look after our communities and frequently contribute to charities. So much so that, since 2013, our award-winning Grassroots Giving programme has given over £320,000 to community groups across the country, while the Skipton Building Society Charitable Foundation has donated more than £1.6 million to good causes since 2000.

Other services we offer

  • From easy access to fixed rate accounts, we offer a wide range of savings products designed to make your money work for you. Click here to find out more.

  • We offer a range of mortgage products tailored to meet your individual requirements. Click here to find out more.

  • To learn more about Skipton Building Society – and how we can help you plan for your life ahead through our savings, mortgages and pensions services, click here.


If you’d like to speak to us, simply request a call back or call 0800 731 5342 today. For further information on whether you could be eligible to vote in our AGM, click here.