Newcastle Building Society's library initiative

THE Newcastle BS has come up with  a pioneering initiative.

As a result of an arrangement with Stockton Borough Council, it will, in autumn, re-establish a presence in Yarm by setting up a branch in the town’s library which is undergoing redevelopment.

Says the NBS: “The pilot is expected to be the first of a number of other community partnerships, and it will be the UK’s only library-based branch.”

Elsewhere on its patch, the society plans, in June, to open a new branch in a prime position in Gateshead.

Last year, its Carrington and North Shields branches were refurbished, and its small and dated facility at Chester-le-Street was replaced with new premises.

The Newcastle is proud of branches, and it is one of the few societies to include them in a directory in its summary annual review.

Unusual among societies, the review also includes a note  on staff  turnover rate which increased from 12.6 per cent in 2014 to 13.2 per cent last year.

This is attributed to “a more competitive employment market and reducing rates of unemployment”.

Says the report: “While this increase was not unexpected given very low levels of turnover over recent years, we are still working hard to retain staff and also to ensure we attract the best talent to the business.”

The annual meeting is to be held on Thursday April 28, at the Bamburgh Suite at St James Park, home of Newcastle United.

It will provide a first opportunity for Andrew Haigh, who took over as chief executive in May last year, to outline to members his aspirations for the future.