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East Anglia: Ipswich Building Society urges MPs and MEPs to focus on role of mutuals

PUBLISHED: 06:00 16 March 2014

Ipswich Building Society chief executive Paul Winter.

Ipswich Building Society chief executive Paul Winter.

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Ipswich Building Society, Cambridge Building Society and the Building Societies Association are teaming up to host a political discussion on how EU and UK laws affect the sector.

The event, at Downing College, Cambridge, on March 28, will also see MPs, MEPs and candidates consider the role played by building societies in their local communities.

A focus for discussion will be how building societies offer a very different proposition to larger shareholder-owned financial services companies, as well as having a different approach to the communities in which they operate in.

The event will showcase how Ipswich Building Society has contributed to the economic and social wellbeing in its region.

The society’s 2013 results revealed a financially healthy mutual, active in its local communities, with balance sheet growth of 4.3% and increased total profits as well as staff volunteering reaching 323 hours and 372 hours of financial education sessions for local schools.

Paul Winter, chief executive at Ipswich Building Society, said: “I’m delighted to join forces with the Cambridge Building Society at this event.

“Building societies such as ours are the challengers to the larger banks in the financial services sector. With the right regulatory and government environment we can offer diversity in the sector through competition.

“We strongly believe a business is only as healthy as the communities in which it operates in, which is why it is so important that businesses take an active role in the communities they serve.”

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