Principality Building Society is the largest building society in Wales, with over 70 branches in every community in Wales and long-standing relationships and connections with Welsh rugby, the National Eisteddfod, the Royal Welsh Show and numerous community / charity groups across Wales.
Good for business
- Recognised as a leader – through the work with schools, Principality is continuing to be recognised as a company which is “involved in the local community”
- Colleague engagement and wellbeing – all members of staff taking part in volunteering opportunities with partner schools report a boost in engagement and wellbeing levels
- Brand awareness – all partner schools, both pupils and teachers, have reported an increase in awareness of the Principality brand in Wales
Good for society
- Financial education – over 200 young people have been through Principality’s financial education workshops and online training, with over 7,000 hours of learning being completed
- Boosting studies – 90% of pupils from Strade School said that the out of the classroom experience with The School of Hard Knocks would help their academic work
- Sports investment – over £10,000 invested in school sports equipment at partner schools, along with some bursary support for individual pupils
Principality's Business Class Partnerships
Principality Building Society is committed to Business Class partnerships in North, East and West Wales, working with schools in each of these areas, in addition to a strategic partnership with Cardiff & Vale College. Principality works with each school on a needs-led basis, typically engaging with pupils and staff around financial education / literacy, career employment skills, running and delivering competitions between schools and providing out of the classroom fun opportunities (through the Society’s relationships with the WRU and School of Hard Knocks).
In line with Principality’s commitment to working in and supporting communities across Wales, the Building Society has long been engaged with local schools. However, in direct response to feedback from colleagues about adding more structure to the education work, the business embarked on Business Class partnerships across Wales. This not only ensured the education work with local schools was fully aligned to the company’s Corporate Social Responsibility plan and is delivered in a more comprehensive fashion. Whilst the partnerships are built around individual school needs, the breadth of engagement has allowed Principality to see patterns emerging in terms of the kind of support schools are looking for. This means that Principality can more effectively target (for example) financial literacy and education programmes, the promotion of active lifestyles and employability skills and deliver them at scale in their schools.
In addition to over 200 school pupils taking part in different financial literacy and education programmes with Principality, the company also worked with individuals at Cardiff & Vale College to delivery Money Twist sessions. 98% of pupils who completed the workshops rated them as excellent / good, 68% of pupils reported a boost in teamwork and 66% reported a boost in problem solving skills.
Working with schools in a thought-through and managed way is delivering positive impacts for Principality too – with over 60% of Members (customers) identifying the company as one which actively supports local communities (a key target for the business). Further, staff at Principality have been able to get involved with numerous volunteering opportunities at partner schools, resulting in positive impacts on their physical and mental wellbeing and crucially, how they rate Principality as an employer.
What Principality Building Society’s Chief Executive said:
“We are huge advocateds of the positive role business can play in supporting school communities and we are very proud of our own Business Class partnerships and the wide range of activities delivered. The Business Class model is one that balances the needs of schools with the capabilities of the business partner, and this along with the expertise of Careers Wales delivers effective help to young people.” – Graeme Yorston, former Chief Executive (at the time of the Award entry), Principality Building Society