A BUILDING society will stay true to its traditions in a £10m investment that will create 100 jobs.

That was the vow of Andrew Haigh, Newcastle Building Society chief executive, as he revealed major investment plans to build on the company’s 150-year history.

Mr Haigh was speaking to The Northern Echo after announcing a £10m programme, which will include 100 news posts, a revamp of its branch network and website, and a return to Yarm.

He confirmed the business’ high street bases and their over-the-counter services will not be sacrificed for any shift into online work in the changes, as the firm looks to continue giving savers and lenders what they want.

The company is already looking to fill the first 50 roles, which are spread across IT, customer service and financial planning.

Once its plans are finalised, the society will employ more than 1,000 people.
Within its proposals is a move back to Yarm, in a pilot scheme alongside Stockton Borough Council, which will see services shift into a refurbished library.

The branch is expected to be open by the autumn and Mr Haigh said it could the first of many such partnerships, adding it remains imperative the business retains its links to the community.

He said: “Local relationships are really important to us and our members.
“Having branches and people coming in and having conversations with us is a really important part of what we do.

“It’s something that our members value too.

“Our partnership with Stockton Council is a good opportunity for us to get back into the community we serve.

“It is expensive to run a branch network and we are always reviewing the right places to have branches and where we need to be.

“When we last looked it wasn’t the right time to have a fully-fledged branch in Yarm, but the town is important to us.

“That’s why the pilot scheme is really exciting.”

Under its plans, the company has already replaced a branch in Chester-le-Street and redeveloped sites in North Shields, North Tyneside, and Cramlington, Northumberland.

In Newcastle, the firm will open two advice centres, while in Gateshead a new branch will be launched to cater for customers who used older sites in Gateshead and Low Fell, which will close.

Bases in Wallsend and Heaton, North Tyneside, will also close, with people urged to use services in North Shields and Newcastle.

However, despite the changes, officials say they don’t expect to make any redundancies, with all existing staff being offered the chance to take on other roles.

Mr Haigh added: “This is a long-term commitment to ensure we can continue offering customers an excellent, face-to-face service.”

The company has branches across the region, including bases in Darlington, Durham City, Middlesbrough and Stokesley, North Yorkshire.