As Swansea Building Society commemorates its 100-year anniversary as cornerstone of the community, it has proudly marked another historic moment – the completion of its head office expansion on Cradock Street. The adjoining property, acquired and refurbished to accommodate the Society’s expanding team, signifies not only the mutual’s ongoing growth but also its continued commitment to serving the needs of its members and the wider community.
The extensive refurbishment of the acquired property has included the installation of new windows, a new roof, and a comprehensive interior redesign. These improvements were necessary to ensure a comfortable and productive working environment for the Society’s additional staff. The expansion aligns perfectly with a significant milestone in Swansea Building Society’s history, as it celebrates its centenary as a mutual this year.
To mark the official opening of the expanded head office, Swansea Building Society hosted Councillor Rob Stewart, the Leader of Swansea Council. Attending the event, Cllr Stewart emphasised the Society’s commitment to the local community and the positive impact of its expansion on the city’s economic growth.
Swansea Building Society has experienced remarkable growth and success in recent years, driven by strategic planning and substantial investments. In the past year alone, the Society achieved record highs in total assets, mortgage balances, savings, capital, and profits, surpassing the significant milestone of £500 million in total assets for the first time.
Recognising the importance of technological advancements, Swansea Building Society has invested over £1 million in its IT and back-office infrastructure. This comprehensive project involved hardware upgrades, enhanced cyber security measures, the establishment of a remote disaster recovery site, and improvements to its online services for customers. These advancements ensure the Society remains at the forefront of digital banking and delivers a seamless customer experience.
Additionally, the Society has bolstered its workforce with new talent across multiple departments, including mortgage underwriting, IT, marketing, and the mortgage sales team. Customer-facing roles have also been expanded to accommodate increased footfall at all local branches in Swansea, Mumbles, Carmarthen, and Cowbridge.
Alun Williams, Chief Executive at Swansea Building Society, said:
“The acquisition and refurbishment of number 13 Cradock Street was essential to meet the demands of our growing head office workforce. The expanded premises, now hosting 14 staff, provide us with room for further expansion if needed. Our investments and achievements in recent years position us to better assist our members in planning their finances and accessing the savings and mortgage products they need for a more secure future. By increasing staff, expanding our facilities, and upgrading our IT infrastructure, we can serve our members with tailored financial advice and offer them a choice of convenient options, whether it’s through our branches or online.”
Cllr Rob Stewart, Swansea Council Leader, said:
“Businesses like Swansea Building Society are so important to the vitality of the city centre, so it’s very encouraging to see the improvements they’ve introduced as part of an impressive refurbishment and expansion project at their Craddock Street headquarters.
“Private sector investment of this kind plays a key role in boosting our local economy, and more workers based in the city centre means more footfall and spending in other businesses like shops, restaurants and bars.
“As a council, we’ll continue to work alongside the city’s businesses to create a modern, vibrant and fit for purpose city centre that meets people’s aspirations.”
