Introduction
The Tipton & Coseley Building Society, commonly known as The Tipton, is a prominent mutual financial institution based in the West Midlands, UK. Founded in 1901, it has consistently prioritized the needs of its members over profit, distinguishing itself from shareholder-driven banks. With a rich history, a diverse range of services, and a strong community focus, The Tipton has solidified its position as a trusted financial partner for many.
History of Tipton & Coseley Building Society
Established on May 1, 1901, as the Tipton & District Permanent Building Society, The Tipton began with modest beginnings. By July 1901, the society held its first subscription meeting at 30 Owen Street, Tipton, with weekly subscriptions set at 2/6d or 1/3d. By September of the same year, the society had 53 members. In 1934, the society expanded by opening a new office in Coseley, leading to its renaming as the Tipton & Coseley Permanent Building Society. The name was further shortened to Tipton & Coseley Building Society in 1972. In August 1992, the headquarters relocated to its current location on Owen Street, Tipton The Tipton.
Services Offered by Tipton & Coseley Building Society
Savings Accounts
The Tipton provides a variety of savings options tailored to meet diverse financial goals:
- Fixed Rate Savings: Offers guaranteed interest rates for a set period, providing stability for savers.
- Notice Savings Accounts: Requires notice before withdrawals, often offering higher interest rates.
- Easy Access Savings: Provides flexibility with no withdrawal restrictions.
- Tax-Free ISAs: Individual Savings Accounts offering tax-free interest, helping savers maximize returns.
- Business Savings Accounts: Designed for local businesses to manage their savings efficiently.
Mortgage Products
Catering to various homeownership needs, The Tipton offers:
- First-Time Buyer Mortgages: Tailored for individuals purchasing their first home.
- Shared Ownership Mortgages: For those buying a share of a property and renting the rest.
- Buy-to-Let Mortgages: For purchasing property to rent out.
- Retirement Interest-Only Mortgages: Designed for older borrowers.
- Family Assist Mortgages: Allowing family members to help with mortgage deposits.
Insurance and Financial Products
The society also offers various insurance products, including home and life insurance, ensuring comprehensive financial protection for its members.
Digital Banking and Online Services
Embracing technological advancements, The Tipton introduced a groundbreaking mobile app in 2020. This app allows new and existing customers to open, view, and manage savings accounts on the go, enhancing accessibility and convenience The Tipton.
Branch Network
As of 2025, The Tipton operates four branches:
- Tipton Branch: 70 Owen Street, Tipton, West Midlands, DY4 8HG.
- Coseley Branch: 73 Church Street, Bilston, West Midlands, WV14 0BJ.
- Sedgley Branch: Located in Sedgley, West Midlands.
- Codsall Branch: A new branch in Codsall, Staffordshire, aiming to expand the society’s reach The Tipton.
Financial Performance (2024)
In 2024, The Tipton reported:
- Gross Mortgage Lending: £120 million, a record achievement for the second consecutive year.
- Net Interest Margin: 2.05%.
- Profit Before Tax: £2.3 million.
- Underlying Profit Before Tax: £2.2 million.
- Management Expenses Ratio: 1.75%.
- Tier 1 Capital Ratio: 23.9%.
- Total Savings Balances: £524 million.
- Liquid Assets Ratio: 20.0% The Tipton.
These figures underscore the society’s robust financial health and commitment to its members.
Community Engagement and Charitable Initiatives
The Tipton is deeply committed to supporting local communities through its Charitable Foundation. This foundation funds various initiatives and charitable causes within the Black Country area, reflecting the society’s dedication to community development Charity Register.
Why Choose Tipton & Coseley Building Society?
Opting for The Tipton means choosing a financial institution that:
- Puts Members First: As a mutual society, it prioritizes the interests of its members over profit.
- Offers Personalized Services: Tailored financial products to meet individual needs.
- Demonstrates Financial Stability: Consistent growth and strong financial performance.
- Engages in Community Development: Active participation in local charitable initiatives.
Conclusion
The Tipton & Coseley Building Society stands as a testament to the enduring values of mutuality, community, and personalized service. With a rich history, diverse services, and a commitment to its members, it continues to be a cornerstone of financial stability and community support in the West Midlands.
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