When the West Bromwich Permanent Building Society was founded in 1849, its objective was 'to enable its members to acquire property by the fruits of their own honest industry and frugality'. Things have moved on in the world of financial services since then, and although West Bromwich remains faithful to its founding principles, it has learned how to adapt to the requirements of a fast-moving, technology-driven and customer-focused marketplace.
The society chose to remain mutual, but its embrace of change and commitment to business transformation has yielded rich results. While many other financial service providers have struggled, the West Brom has doubled pre-tax profits, increased assets by 80% and lending by a remarkable 305% in the past five years. And it has won more than 60 awards.
It has been one of the most consistent entrants to the MT/Unisys Service Excellence Awards over the past 10 years, and has always striven to benefit from the feedback it has received - which is why the society was chosen as our Learning Organisation this year.