The feeling is even more mutual!

Norwich and Peterborough Building Society (N&P)’s annual customer research has shown that a massive 98% of members surveyed said that they believed the Society would better serve them by remaining mutual.

That’s up 5% on last year’s results – maybe a sign that people are getting more and more fed up with poor service from the banks?

N&P’s research asked customers in branches their views on a number of topics, including mutuality, branch usage, AGM votes and community support.

The research shows that the vast majority of N&P’s customers still prefer to use its branch network than other methods of contact. 89% of people said that they prefer to use their local branch (86% in 2006), with 51% of people surveyed saying that they pop in once every week.

78% of customers have recommended N&P to their family and friends. When asked what the best thing about N&P was, without prompting:

67% referred to the staff
23% made a comment regarding their branch
10% said that they liked the products
3% regarded mutuality as the best thing

Comments from customers included:

“First class service from friendly, efficient and knowledgeable staff.”

“Good local service, friendly staff, excellent advice and a range of products to suit your lifestyle.”

“Local, friendly, very ‘unbank’ like”

“Personal service with customers, unlike banks who seem to have lost the ability to converse in a 'one to one' since they demutualised.”

“The friendly, efficient service from the branch staff and an efficient, no nonsense online banking system.”

For the last three years, N& P has donated money to charity for every vote made at its Annual General Meeting (AGM). 98% of customers thought that this was a good idea (92% in 2006), and 67% said the Society making this donation would make them more likely to vote (61% in 2006).

The Society pledged to donate 10p to charity for every vote cast this year, rising to 20p for online returns. Following the AGM on 16 April, £4,000 was donated to charity, split between East Anglia Children’s Hospices (EACH) and Peterborough Environment City Trust (PECT).

As well as making the annual donation following the AGM, N& P also makes donations to its local communities throughout the year, with an emphasis on helping vulnerable and/or disadvantaged people and environmental causes. 78% of customers surveyed were aware that the Society supports local good causes.

N&P’s chief executive, Matthew Bullock, who this week hands over Chairmanship of the Building Societies Association (BSA) to Iain Cornish (chief executive of Yorkshire Building Society), said: “I’m delighted that such a high percentage of customers who took part in our survey want us to stay mutual. Service is a critical differentiator between providers nowadays, and societies like ours are at the forefront of the revival of the branch – despite all the moves to contact centres by the banks.”