Dudley Building Society on ‘ambitious growth plan’ for 2024 - CEO

17 Jan 2024

Published in: Member News

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The Black Country Chamber of Commerce speaks to the CEO of Dudley Building Society.

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In one of our first Ready for 2024 interviews, James Paterson, CEO at Dudley Building Society, outlines the Society’s growth plans and sees collaboration as being vital for success among Black Country firms in the 12 months ahead.

Leading the Society on delivering against a purpose “to help people live better lives”, James hopes to see “collaboration across business, public enterprise, education and local representatives” in the region which he believes will be “vital to supporting meaningful and sustainable growth in the area”.

James also sees potential success from “the area’s growing ambition to work together and transform the local economy for the better by leveraging the skills and talents that sit in the region creating a much more innovative culture”.

As 2024 gets under way, the Black Country Chamber of Commerce is celebrating member companies looking forward to building success.

As part of Ready for 2024, we are profiling members who plan to deliver on exciting plans during the 12 months ahead. Each day we are featuring member firms, ranging from start-ups to large companies, on the Chamber website and social media channels to get their views on the opportunities ahead during the next year.

What will your business be focussing upon in 2024?

The Society has an ambitious growth plan and is planning to continue its momentum from 2023 into the new year where there has been significant growth and retention of customers. Our purpose is to be there to help people live better lives and we continue to invest in the Society’s capability to underpin our growth ambitions.

This includes ensuring we are delivering on our wider strategic pillars of Customer, Community, Climate and Capability, with the Society committed to embedding customer experience at the heart of its business, playing a meaningful role in supporting the Black Country through financial education, business support and enabling home ownership, whilst being a sustainable business mindful of its wider social and environmental impact.

In 2024, we will continue to invest in the development of our people, continue to augment our business with new talent, invest in cloud native, new technology and further grow our risk expertise. The Society is committed to and looking to expand its local prescience to savers, across individuals, businesses, charities, clubs and trusts, whilst also being committed to expanding mortgage lending through trusted and specialist intermediary partners. The Society has record customer engagement, advocacy and employee engagement scores.

What are your hopes for the Black Country economy and its businesses in 2024?

Our hope for the Black Country in 2024 is a more prosperous one. We see collaboration across business, public enterprise, education and local representatives being vital to supporting meaningful and sustainable growth in the area, leading to local people living better lives. Armed with the right support, whether through skills and qualifications, financial education, transport and digital connectivity, local people as well as local businesses can be given more opportunities to grow and thrive in the area. This would ensure a lasting local benefit.

Why will the Black Country be a great place to do business in the 12 months ahead?

The Black Country will be a great place to do business over the next 12 months due to the area’s growing ambition to work together and transform the local economy for the better by leveraging the skills and talents that sit in the region creating a much more innovative culture. The Chamber are playing an increasing role in representing the regions interests and supporting business collaboration across sectors for the benefit of all.

What will you use your Chamber membership for in the year ahead?

We will be looking to use the Chamber membership over the coming year to continue to forge relationships that can help us support the communities we serve and collaborate with likeminded businesses who share our ambitions. We have seen the benefit that our presence as a regional and community focused Building Society has had across the region and we want to continue to bring our services to a wider number of communities and grow our prescience, to continue to deliver growth.

What do you hope will happen for the UK economy as a whole?

There will undoubtably be more volatility and uncertainty for the UK economy as we look forward. However there is always opportunity in such environments for likeminded, brave and progressive businesses focused on the on the long term.

What does your company do?

Dudley Building Society is a financial institution on a mission to support more people live better lives through providing access to financial services locally, both face to face in branches and online. We offer a wide range of services helping people to manage their money and save, whilst supporting home ownership across the UK, including in our home region. We have been serving our communities since 1858 and remain committed to building a growth business from our base in the Black Country. To find out more visit: www.dudleybuildingsociety.co.uk

Our address: 7 Harbour Buildings, The Waterfront, Brierley Hill, DY5 1LN