Bath Building Society has been awarded the FairLife Mark for Mortgages and Cash Savings in recognition of its ethical approach to business.
The FairLife Mark represents a new fair trading initiative for the finance industry. It recognises organisations that price honestly and trade fairly with their customers and raises money to promote financial education in schools.
Bath Building Society, which was established in 1904 to offer savings and mortgages to the local community, today has more than 20,000 savers and 1,200 mortgage customers.
Its head of marketing & savings Colin McDougall said: “I am pleased the society is associated with the FairLife charity and welcome working with them to raise standards and increase trust across the industry and in particular in relation to mortgages and savings.”
Stuart Phillips of the FairLife Charity added: “There is a growing public appetite for a fairer society and leading firms are responding.
“Ethical behaviours are driving consumer purchasing and the FairLife Mark is a simple way for companies to highlight their commitment to fair standards.
“The mark highlights companies that put their customers first – following the spirit of the law not just the letter.
“We are thrilled to have Bath Building Society display the FairLife Mark and would encourage others to get involved. Our standards combine fairness to the public with business practicality and are an achievable aspiration for all”.
In March Bath Building Society, which employs around 60 staff, revealed it had escaped the economic fallout from the coronavirus pandemic to increase its mortgage lending to record levels while also taking on more savers.
