- Customer satisfaction – 61% of Principality Members (customers) identify the Building Society as a business that is involved in the local community
- Living the values – the engagement with community and charity groups ensures that colleagues have the opportunity to “walk the talk” when it comes to being a values-led organisation
- Maintain our reputation – Principality’s commitment to working with community groups underpins the company’s commitment to being a responsible business in Wales
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.
Working with charity groups through established partnerships ensures that Principality Building Society can deliver strategic support to service users, maintain its brand profile and provide employee volunteering opportunities to colleagues. In 2016, Principality aligned its responsible business practices with the issues being addressed by Llamau, Cancer Research Wales and the School of Hard Knocks – along with support for Age Cymru.
By building strategic partnerships with charity organisations which align with Principality’s responsible business commitments, the Building Society can have a larger impact on the issues they want to address. Further, by working in partnership with charities, all involved have the opportunity to develop extensive employee engagement and volunteering opportunities as well as sharing best practice across sectors.
The broad range of issues being addressed by the three charity partners ensures Principality are working not only multi-generationally but also in different ways. The support Principality colleagues provides to Llamau aligns with the company’s education commitments and helps young people develop the skills they need to get into and stay in employment, helping them to reduce their risk of becoming homeless. In turn this provides employee volunteering and mentoring opportunities for staff members, allowing them to develop skills they can take back into the office. The relationship with Cancer Research Wales creates endless fundraising and employee engagement opportunities for Principality, adding a feel-good air to their activity across the year. The School of Hard Knocks plays to Principality’s strength in not only the field of sport, but also by working with schools and their Wales-wide Business Class commitments.
Whilst fundraising and employee engagement are tangible outputs from Principality’s relationships with the three charities, the company has also seen a boost in its reputation as a responsible business with over 60% of Members recognising them as a company that is involved in the local community, an aspect of the company’s brand which is vital to its long-term success.
What Principality Building Society’s Chief Executive said:
“Our charity partnerships are closely aligned to our CSR themes of helping people get and stay in their homes for longer, health and wellbeing, and financial education. We thoroughly enjoy working with our charity partners; they bring different perspectives into our business and provide a wide range of learning opportunities. I would urge more businesses to team up with charities, lend a helping hand and support communities across Wales.” – Graeme Yorston, former Chief Executive (at the time of the Award entry), Principality Building Society
- Exceeded fundraising targets – across three charity partnerships, Principality, colleagues and Members raised over £150,000
- Supporting charity staff – in recognition of the work that staff at the charities do with service users and colleagues, Principality provided them with access to events and performances at Principality Stadium
- Boosted charity service – the Age Cymru Handy Van service (working with vulnerable customers and older people in the community) was put on a more sound financial footing with investment from Principality