Place your financial trust in us, says Yorkshire Building Society

YORKSHIRE Building Society has returned to TV screens for the first time in nearly five years to promote itself as the trusted alternative to the banking sector.

The Bradford-based lender is owned by its members, which means that it does not have to chase profits to pay out to shareholders.

Under its new chief executive Chris Pilling, the Yorkshire has invested £350,000 in a marketing campaign with the tagline ‘Built on Trust’.

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The eight-week campaign includes prime-time TV and radio spots, billboards and newspaper adverts.

Spokeswoman Tanya Jackson told the Yorkshire Post: “It’s saying that trust is not something you can buy.

“It’s something you’ve got to earn over a long period of time.

“That’s the message.”

The TV advert features a scan of an unborn baby, an elderly married couple reflecting over an old photograph, a man and his son flying a kite on a sunny day and a young family in a branch.

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Ms Jackson said: “We are trying to get the message out there when confidence in the banks is at an all-time low, making people aware that there is a genuine alternative.

“We are genuinely different from the banks.”

The building society sector by and large came through the financial crisis without needing taxpayer bailouts as stronger societies rescued weaker ones through mergers.

The Yorkshire advert has been shown on regional ITV during Coronation Street and 6pm news broadcasts.

The mutual wants to increase market share in its Yorkshire heartland, where it currently has 43 of its 224 branches.

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The Yorkshire is spreading the ‘Built on Trust’ message through more subtle forms of advertising.

A dozen branches have umbrellas with the tagline for customers to use if it starts raining.

“Borrow a brolly and bring it back next time,” said Ms Jackson. “It’s dual trust.”

The new marketing campaign can be seen as evidence of the new regime under Chris Pilling, who joined as chief executive at the end of last year.

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Mr Pilling is a former graduate trainee with Procter & Gamble who rose to hold roles such as marketing director at Asda, chief executive of First Direct and head of branch network at HSBC.

In an interview with the Yorkshire Post earlier this year, Mr Pilling said Yorkshire Building Society can lead the way in helping to rebuild the trust in Britain’s beleaguered financial services industry.

He said the building society will be “a challenger brand” and “quicker, more nimble and more creative” than the main high street banks.

The new marketing campaign was conceived after the mutual hosted some focus groups.

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“The strong message that came back is that price is not the only thing that matters,” said Ms Jackson. “People value personal service. They value being treated as individuals.

“They want to be listened to before they are told what products are available. They want warm friendly staff.”

In 2011, the Yorkshire, which is the UK’s second-largest building society, raised its core operating profit by 27 per cent to £163.2m.

Membership numbers rose by 27 per cent to more than 3.3m.

The Yorkshire also increased new lending by 46 per cent to £4.1bn. One in four mortgages were provided to first-time buyers. The society has announced plans to open 12 new branches over the next two years.

These include Pudsey, which opened last week, Ilkley and Bingley.