The feeling's still mutual!

Norwich and Peterborough Building Society's (N&P) annual customer research has shown that a massive 97% of members surveyed said that they believe the Society would better serve them by remaining mutual.

A huge majority of N&P members who use the Society's branches believe mutuality is important. N&P's research asked customers in branches their views on a number of topics, including mutuality, branch usage, AGM votes and community support.

Another finding of the research was that the vast majority of N&P customers - 87% (89% in 2007) still prefer to use its branch network over any other method, although the Internet has grown in popularity, up to 11% in 2008 (from 5% in 2007).

46% of people said that they visit their local branch once a week. N&P has always believed in maintaining and improving its branch network, and has opened a branch in Cambridge this year (it's second in the city, taking the Society's network to 56 branches), as well as carrying out improvement work to 10 other branches, with more to be completed by the end of the year.

An impressive 82% of members surveyed said they had recommended the Society to a friend or family member. When asked what the best thing about N&P was, without prompting:

79% referred to the staff
20% made a comment regarding their branch facilities or location
4% said that they liked the products

Comments from customers included:

"Excellence in service, nothing too much trouble, cannot recommend you enough, thanks."

"It's a very personal service which is so appreciated. Such a service is hard to get elsewhere."

"Staying a regular customer related society. Please don't become owned by a large corporate. I just escaped Abbey."

"The friendliness of the staff. Their wish to help in bad times as well as good. The personal touch, very important in this age of computerism. (SIC)"

N&P feels that all of its members should use the opportunity to have their say in the running of their Society by voting at the Annual General Meeting. Since 2005, N&P has made a donation to charity for every vote cast by members at the AGM. 97% of members thought that this was a good idea, and 59% said it would make them more likely to vote. This year, the Society pledged to donate 50p for every vote to the East Anglia's Children's Hospices (EACH). At the Society's AGM on Monday 28th April, £22,102.50 was donated to EACH as a result of members' votes.

As well as making the annual donation following the AGM, N&P also makes donations to charities and good causes in its local communities throughout the year. 74% of customers surveyed were aware that the Society supports these good causes.

Matthew Bullock, N&P's chief executive, said: "I'm very pleased that, once again, our members are showing their overwhelming support for us remaining a local, mutual building society. In a time of financial unrest, it's important that our customers know they can trust us to provide the excellent service they've come to expect, and that we'll continue to seek to improve that service with refurbishments in our branch network."