Harman Patil (Editor)

Saffron Building Society

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Number of locations
  
12

Number of employees
  
181

Founded
  
1875

Saffron Building Society httpswwwsaffronbscoukimagesheadersbslogosvg

Type
  
Building Society (Mutual)

Industry
  
Banking and Financial Services

Key people
  
Geoffrey Dunn, Chairman Colin Field, Chief Executive Officer

Products
  
Savings, Mortgages, Investments, Loans, Insurance

Net income
  
£3.1 million GBP (December 2007), 84.6% on 2006

Total assets
  
£784 million GBP (December 2007), 10.4% on 2006

Headquarters
  
Saffron Walden, United Kingdom

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The Saffron Building Society is a regional building society which has branches and agencies in the East of England. These span: Cambridgeshire, Essex, Hertfordshire, Suffolk and London. It is a member of the Building Societies Association.

Contents

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History

Saffron Building Society was established in 1849. It is a UK building society based in Saffron Walden, Essex.

It began life as the Saffron Walden Second Building Society and was founded by the Revd John Marten, who became the first Secretary. The first Chairman of the Saffron Building Society was a local builder called Joseph Durrant. Originally established as a 'terminating society' Saffron Walden Second Building Society became a permanent building society in 1857 and changed their name to The Saffron Walden Second Benefit Building and Investment Society on the Permanent Plan. In the same year the Society lent £1,730.

In 1873 Henry Hart a printer, was Chairman and directors' salaries now stood at £1.

  • 1866 - 1905 Fitzroy Ackland, a local solicitor was Secretary.
  • In 1900 assets stood at £37,000.
  • 1905 William Freeman, Ackland's Clerk became Secretary. During this time the role becomes a full-time job.
  • In 1930 the Society purchased its own premises for the first time.
  • 1935 Edward Hughes Freeman (William's son) becomes Secretary. He died in 1947.
  • 1947 Philip Sidney Kettieridge becomes Secretary and holds this post for 23 years.
  • 1948 assets reached £300,000.
  • 1959 assets reached £1,000,000.
  • 1968 the Society takes over The Saffron Walden and Essex Mechanics Permanent Building Society.
  • 1969 the first branch office is opened in Haverhill.
  • 1972 Royston & District Building Society transfers to the Society and it becomes The Saffron Walden & District Building Society.
  • 1978 assets reached £21,000,000 with four offices.
  • 1979 merges with London and Essex Building Society and becomes the Saffron Walden & Essex Building Society.
  • 1981 the Society purchases the Cattle Market site in Saffron Walden.
  • 1984 (16 January) the Society opens in new premises on the old Cattle Market site in Saffron Walden.
  • 1989 merges with the Herts & Essex Building Society based in Bishop's Stortford and becomes the Saffron Walden, Herts & Essex Building Society.
  • 2006 (18 September) the Society opted to change its name to Saffron Building Society.

    • References

    Saffron Building Society Wikipedia
    (Text) CC BY-SA