The Cambridge Building Society
 | |
 The Cambridge Building Society head office | |
| Formerly | Cambridgeshire Permanent Benefit Building Society |
|---|---|
| Company type | Building Society (mutual) |
| Industry | Banking Financial services |
| Founded | 1850 |
| Headquarters | Cambridge, England |
Number of locations | 13[1] |
Key people |
|
| Products | Savings, Mortgages and Insurance |
| Revenue |  £37.6 million (2022) |
| £17.0 million (2022) | |
| £13.7 million (2022) | |
| Total assets | £1,859.5 million (2022) |
| Total equity | £113.9 million (2022) |
Number of employees |
|
| Website | cambridgebs |
The Cambridge Building Society is a UK mutual building society based in Cambridge, Cambridgeshire, England.[2] It is the 13th largest in the United Kingdom based on total assets of more than £1.8 billion at December 2022.[3] It is a member of the Building Societies Association.[4] It was formed in 1850 as the Cambridgeshire Permanent Benefit Building Society, adopting its current name in 1945.[5]
There is no connection between the Cambridge Building Society and the Cambridge Foresters’ Benefit Building Society which was dissolved in 1960 or the Cambridge Peers Economic Building Society which was dissolved in 1972.[6]
History
[edit]The society was established in 1850.[7] 2016 saw a number of changes to its branch network, with closure of the branches in Burwell, Chesterton, Mill Road, Milton and Soham reducing the branch network to 13.[8]
In 2017, the society announced a £15m investment partnership with The Cambridgeshire County Council Pension Fund through the issuance of Core Capital Deferred Shares – the second building society to do so after Nationwide.[9] In 2017, it also launched an app for savings and mortgage customers.[10] In March 2020, the society expanded its lending area, across all of England and Wales.[11]
Products and Services
[edit]The Cambridge Building Society offers a range of fixed and variable rate mortgages.[12] Other products and services available through The Cambridge Building Society include savings, (business and council savings), home insurance and travel money.[13]
Financial performance
[edit]In 2019 The Cambridge Building Society reported gross lending of £295m and mortgage book growth of 8%. Assets as at 31 December totalled £1.586 billion and profit after tax reached £3.6 million. General reserves were stable at £87.3 million.[14]
Branch changes
[edit]Following the society's announcement of a three-year investment programme in 2016, in June of that year it closed five branches (in the villages of Burwell, Soham and Milton and on Mill Road and Chesterton Road in Cambridge) of the 18 branches then operational. Five members of staff were deployed elsewhere within the society. The society also introduced digital technology into two branches.[15] The society opened a new branch in Central Cambridge in 2018.[16] It refurbished its branches in Great Shelford[17] and Ely in 2019,[18] and opened a new branch in Bury St Edmunds in 2022.[19]
References
[edit]- ^ "Contact The Cambridge Building Society". www.cambridgebs.co.uk.
- ^ "Mutuals Public Register". Retrieved 16 August 2016.
- ^ "The Cambridge Building Society Annual Report and Accounts 2022" (PDF). 22 February 2024. Archived (PDF) from the original on 21 February 2024. Retrieved 21 February 2024.
- ^ "Building Societies Association Yearbook 2015/16, Page 33". Retrieved 2 August 2016.
- ^ "The Cambridge Building Society". Retrieved 11 October 2016.
- ^ "BSA Yearbook 2013/14, Mergers and Name Changes". Retrieved 11 October 2016.
- ^ "When was my building society founded?". Building Societies Association. Retrieved 7 October 2025.
- ^ "Cambridge Building Society to Close Milton Branch – Milton Village". 15 March 2016.
- ^ "Cambridge BS funding deal could provide template for small mutuals". Mortgage Solutions. 6 September 2017. Retrieved 16 May 2019.
- ^ "The Cambridge Building Society launches mobile app". DPR. 28 July 2017. Retrieved 15 June 2020.
- ^ "The Cambridge 'go national' with their lending". www.cambridgebs.co.uk. Retrieved 15 June 2020.
- ^ "A range of mortgage deals from The Cambridge Building Society". www.cambridgebs.co.uk. Retrieved 16 May 2019.
- ^ "The Cambridge posts strong 2018 results with a record year of lending". www.cambridgebs.co.uk. Retrieved 16 May 2019.
- ^ "Review of the Year 2019" (PDF).
- ^ "New multi-million pound investment programme". www.cambridgebs.co.uk. Retrieved 16 May 2019.
- ^ "The Cambridge opens doors to its new central Cambridge store". www.cambridgebs.co.uk. Retrieved 16 May 2019.
- ^ "The Cambridge Building Society opens new-look Great Shelford store". Cambridge Independent. 5 July 2019. Retrieved 15 June 2020.
- ^ "The Cambridge unwraps new look Ely branch | Cambridge Network". www.cambridgenetwork.co.uk. Retrieved 15 June 2020.
- ^ "Building society confirms opening date for new town centre branch". 12 January 2022.
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