Buckinghamshire Building Society has a long standing culture of fair treatment of customers. Prior to the introduction of Treating Customers Fairly (TCF) as a concept, Buckinghamshire Building Society delivered fair treatment of customers by:
- the inherent advantages of mutual status to ensure no conflict between member and shareholder interests
- fully complying with the letter and spirit of all relevant legislation and Codes of Practice
- encouraging employees to embrace and display our core values in their behaviour
- ensuring staff are trained and competent for the role they perform
- all communications are designed to be clear, fair and not misleading
- quality management information is available throughout the organisation so that as part of good business practice any unusual patterns of activity
Buckinghamshire Building Society recognises that as a financial institution it has a responsibility to adhere to the general principal of fairness to customers and to comply with the FSA’s 11 Principles of Businesses. Principle 6 – Customers Interests – requires that a firm must pay due regard to the interests of its customers and treat them fairly.
There are 6 TCF consumer outcomes that support Principle 6. The 5 relating to Buckinghamshire Building Society are:
- Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture;
- Products and services marketed and sold in the retail market are designed to meet the financial needs of identified consumer groups;
- Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale;
- Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect;
- Consumers do not face unreasonable post-sales barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
There is regular monitoring and reporting of TCF activity, to assess our performance and make changes and improvements where it is considered necessary. A Board Director has been appointed as TCF champion to regularly meet with management and ensure TCF is inherent in all the society´s activities.
Customer Feedback
We welcome feedback at any time – Please let us know what you think – write to either:
Buckinghamshire Building Society,
FREEPOST,High Street,
Chalfont St Giles HP8 4EB
E-mail: katebuggs@bucksbuildingsociety.co.uk
Mike Stannard, Board TCF Champion or Kate Buggs, Head of Customer Services responsible for TCF. Your comments on any TCF issues are valuable to us.
