Read the profile below and answer the questions which follow:

Dunfermline
Building Society

The Company
 
Dunfermline Building Society is Scotland’s largest building society.  It plays an important role in the savings and mortgage market in Scotland

The Society was established in 1)______ and now operates from its impressive head office in Dunfermline with a network of more than 30 branches spread across Scotland.
 

History

 
Building Societies were first set up to help people save for and build their own home.  Many houses the Dunfermline Building Society helped build in the late 19th Century are still 2)__________ today.

As the building society movement has grown rapidly, so too has Dunfermline Building Society.  In 1940 its assets stood at £1.5 million.  Today they 3)________ £2 billion!

Growth

This remarkable growth has taken place as the Society has opened more branch and agency offices throughout Scotland to serve customers in their home areas.  In the process, many smaller building 4)___________ have been absorbed.

A mutual organisation

Dunfermline Building Society is a mutual organisation which means it is owned jointly by its members.  It does not have shareholders and therefore does not have to pay shareholder dividends each year.  Profits made are sufficient only to meet the costs of the business.  This means the Society can offer better interest rates for savers and 5)___________ than many of its competitors.

Dunfermline Building Society - a strong supporter of the Scottish Youth Football Association as well as the National Youth Choir of Scotland

Services

In recent years, Dunfermline Building Society has expanded the range of services for customers, making full use of the opportunities offered by modern technology to provide an efficient service while retaining its reputation for a 6)__________ and personal approach to customers. 

In addition to mortgage and investment services, it now offers insurance, loans, credit cards, travellers cheques and foreign currency. 

The Society realises its long-term future depends upon keeping its customers so it makes a big effort to look after its young customers.  This is seen in the Junior Soccersaver accounts set up in partnership with football clubs such as Dunfermline Athletic, Falkirk, Aberdeen, Dundee and Celtic.

People

The Society believes its 7)_________  also depends upon its employees.  Therefore the value of everyone employed by the Society is recognised.  Employees are encouraged to contribute to the business, and to grow and develop their careers.

Community

Dunfermline Building Society is an important player in the Scottish economy and therefore believes it has a responsibility  to help a range of groups and individuals in the wider community.

For example, in recent years it has offered great support to the Scottish Youth Football Association as well as the National Youth Choir of Scotland. It has also helped bring financial education to schools throughout Scotland.

Environment

The Society aims to conduct its business in a responsible manner and to reduce the 8)_______ of its activities on the environment.

Equal Opportunities
 
Dunfermline Building Society is an 9)_______ Opportunities Employer. The company guarantees no job applicant or employee will be treated 10)________ on grounds of colour, race, nationality, ethnic origin, sex or marital status.
 

Questions - (work on paper) :

1. Match the following words with the numbered blanks in the profile above:
   success   1869   unfairly   friendly    exceed  
   impact   Equal   societies    standing    borrowers

2. Dunfermline Building Society is a construction company which designs and builds houses. True or false?

3. In what year was Dunfermline Building Society founded and where is the Society's head office?

4. How does the value of the modern Society's assets compare to its assets in 1940?

5. Dunfermline Building Society is a mutual organisation. Explain how this helps it to offer competitive rates of interest for savers and borrowers.

6. List six services the Society offers to customers.

7. Give an example of how Dunfermline Building Society tries to look after its young customers.

8. Give at least two examples of how the Society has helped the wider community?

9. Dunfermline Building Society is an Equal Opportunities Employer.  What guarantee does it give to job applicants and employees?

10. Click on the Dunfermline Building Society website below and write down 5 facts about the organisation.

Fife, Scotland

© Oswald Skene