Teachers Building Society is a mutual

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financial institution founded in 1966 by the

National Union of Teachers The National Union of Teachers (NUT; ) was a trade union for school teachers in Education in England, England, Education in Wales, Wales, the Channel Islands and the Isle of Man. It was a member of the Trades Union Congress. In March 2017, NU ...

(now the

National Education Union The National Education Union (NEU) is a trade union in the United Kingdom for school teachers, further education lecturers, education support staff and teaching assistants. It was formed by the amalgamation of the National Union of Teachers an ...

). It is a member of the

Building Societies Association The Building Societies Association (BSA) was originally established in 1869. It is the voice for all 43 UK building societies as well as six large credit union A credit union, a type of financial institution similar to a commercial bank, i ...

. The Society offers mortgages which are available to teachers across

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, and

Wales Wales ( cy, Cymru ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by England to the Wales–England border, east, the Irish Sea to the north and west, the Celtic Sea to the south west and the ...

as well as individuals of any profession in

Dorset Dorset ( ; archaically: Dorsetshire , ) is a county in South West England on the English Channel coast. The ceremonial county comprises the unitary authority areas of Bournemouth, Christchurch and Poole and Dorset (unitary authority), Dors ...

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and

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. It also offers personal and corporate savings accounts which are available nationally.

History

Teachers Building Society was formed in 1966 when the

acquired the London Scottish Building Society in order to help its teacher members onto the property ladder. The Society offered low deposit mortgages from day one in an effort “to assist the younger teacher as far as possible.” Today, the Society continues to offer mortgages to teachers and other education professionals across England and Wales. The Teachers Building Society offices were originally based at Hamilton House in Bournemouth, Dorset. In 1976, the Society moved to Allenview House in Wimborne where it has remained ever since.

Mutuality

Teachers Building Society is a mutual organisation run for the benefit of its members, and all profits are invested back into the Society's business rather than paying dividends to shareholders. For the Society's estimated 11,300 members, this mutual status means that they are able to challenge and change the way that the business operates and shape the future of the Society.

Products & Services

The Society mortgage options to support the education sector. It also offers savings options, including ISAs, Fixed Rate Bonds and easy access accounts as well as accounts for businesses, charities and institutions supporting the education sector. Alongside its own product range, the Society has partnered with Legal & General to provide home insurance. Teachers Building Society has been nominated for 'Best Local Building Society' for 6 years in a row at the What Mortgage Awards, finalists in the Rock Awards and finalists in the Moneyfacts’ Regional Lending Provider of the Year.

References

External links

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Financial information
Building societies of England Banks established in 1966 Organizations established in 1966 1966 establishments in the United Kingdom {{UK-bsoc-stub