The Cambridge Building Society

Having been established in 1850, the Society was based at 6 Post Office Terrace in Cambridge from 1884 until 1967 when it moved to new offices at 32 St. Andrews Street. Ten years after the move the first sub-branch opened in Mill Road.

In 1979 the Society's assets reached £50 million and in the following years from 1980 to 1984 another four branches opened.

By 1984 assets had reached £100 million. From 1985 to 1991 another six sub-branches opened their doors, while more savings products were launched. By 1991 assets had reached £250 million.

The rest of the 1990s saw agency offices becoming full service branches, another five full branch openings, an increased range of products on offer and a move to the present Head Office accommodation. By 2000 assets had reached £500 million and this figure has continued to rise.

2016 saw a number of changes to its branch network.

In 2017 The Cambridge announced a £15m investment partnership with The Cambridgeshire County Council Pension Fund through the issuance of Core Capital Deferred Shares – only the second building society to do so after Nationwide.[8]

In 2017 The Cambridge launched their app to support customers manage their Savings and Mortgage on the go[9]

In 2018 The Cambridge announced a new programme 'Making The Difference' to address the challenges faced by First Time Buyers when getting on the property ladder, and following on from this during 2019 the programme was added to, with include 'Rent to Home'[10]

In March 2020 The Cambridge expanded its lending area, and now lends across England and Wales[11]

The Cambridge Building Society offers a range of fixed and variable rate mortgages[12], on properties located across England and Wales.

Other products and services available through The Cambridge Building Society include savings, (business and council savings), home insurance and travel money.[13]

The products and services from The Cambridge can be managed through their branches, their telephone contact centre and online through their website[14] and their app.

In 2019 The Cambridge Building Society delivered gross lending of £295m and mortgage book growth of 8%. Assets as at 31 December totalled £1.586 billion and profit after tax reached £3.6 million. General reserves were stable at £87.3 million, demonstrating the underlying strength of the Society.[15]

In 2018 The Cambridge delivered pre-tax profit of £3.2 million[16] and in 2017 £3.8m.

The Cambridge announced plans for a three year investment programme in 2016 and since then has transformed two branches into vibrant and contemporary stores that combine digital technology with face to face expertise.[17]

As part of these plans the Society announced that five of its branches (18 operational at the time) would be closing in June of that year. The villages of Burwell, Soham and Milton saw closures and, in Cambridge, the branches in Mill Road and Chesterton Road were also closed. Five members of staff were deployed elsewhere within the Society.

This leaves 12 branches all within a 20 mile radius of Cambridge.

2018 saw a new store open in Central Cambridge[18]

2019 (summer) saw The Cambridge refurbish their Great Shelford branch[19]

2019 (winter) saw The Cambridge refurbish their Ely branch[20]