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Helpful information From the friendly face of finance

Charitable Assignment

At Leek United we are committed to remaining an independent mutual building society run exclusively for the benefit of members.  As a mutual Society with a low risk, sustainable business model, we have no external shareholders to satisfy and so can focus all of our efforts on the provision of value and service to members.

In the past, the independence of the Society was challenged by the activity of speculators, who opened savings accounts in the hope of receiving windfall conversion benefits.  As a consequence, new members joining the society are now subject to our ‘Charitable Assignment Scheme’, details of which can be found in section 32 on our 'Statement of Practice for Investors' leaflet. 

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