The largest locally-owned financial institution in Northern Ireland, Progressive Building Society, is set to spend in the region of £10 million to entirely revamp its 11-strong regional branch network.
Works to the tune of £1.5 million have already begun on a major upgrade of the Newtownards branch, representing the first phase of a refurbishment package which is set to be extended to the Society’s entire branch portfolio.
A further two outlets have been earmarked for modernisation under phase one of the scheme, with refurbishment of around a third of the branch estate due to be complete by the end of 2025.
Progressive says its plans signal an ongoing commitment to its physical network in across the north, as well as its loyal customer base across the region, at a time when many other financial institutions are closing branches.
When work started at the Newtownards premises, the branch moved to a new temporary address in High Street in September, from where it will continue to operate until the upgrade (which is being undertaken by Todds Architects) is complete in the coming weeks.
Regional manager Kevin Flannery said: “Our branch network is an important part of how we serve customers, whether around routine cash and cheque transactions or engaging with them in more detailed conversations about loans, mortgages and additional borrowing.
- Progressive Building Society launches new savings account for first time buyers ExpandOpens in new window
- Progressive Building Society recognises the importance of talented people withinOpens in new window
- Progressive Building Society lends £200m for new mortgages amid 'strong market'Opens in new window
“As a Society, we continually invest in our branch network, with refurbishments this year and next offering further proof of our commitment to local customers.”
Lyn Crawford manages the Newtownards branch, and said she was pleased it had been chosen as the first to be modernised under the upgrade scheme, adding: “The refurbishment will ensure a larger customer area with modern lighting and facilities, which is very exciting, and I can’t wait to welcome our customers back into a new and improved branch.”
Progressive, which has been providing mortgages and savings products to local people for over a century, says it will adhere to industry best practice in terms of accessibility, energy efficiency, sustainable materials and building practices, throughout the refurbishment project.
Last year Progressive had a balance sheet of over £2 billion which includes 16,000 mortgage and 100,000 savings customers.
