Cumberland Building Society
Cumberland Building Society, trading as The Cumberland, is a building society in the UK, with its headquarters in Carlisle, Cumbria, England. It is a member of the Building Societies Association.
| Company type | Building society (mutual) |
|---|---|
| Industry | |
| Founded | 16 April 1850 |
| Headquarters | Carlisle, England, UK |
Number of locations | 34 |
Key people |
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| Products |
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| Revenue | £84.4 million (2023) |
| £26.6 million (2023) | |
Net income | £21.6 million (2023) |
| Total assets | £3,090.1 million (2023) |
| Total equity | £226.6 million (2023) |
Number of employees |
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| Website | Official website |
The Cumberland was established on 16 April 1850 as the Cumberland Co-operative Land and Benefit Building Society. It is the 10th largest building society in the United Kingdom based on total assets of more than £3 billion as at 31 March 2023.
The first branch was opened 100 miles south of Cumberland in Preston, Lancashire.
The society offers a range of products including: savings accounts; mortgages; investment accounts; loans and further loans; financial services; insurance products; lending to commercial enterprises, through the Commercial Lending division; and Internet banking.
The society owns several subsidiary companies, including Cumberland Estate Agents Ltd, and Borderway Finance.
Other than Nationwide Building Society, Cumberland is the only other society to offer a full current account service with ATMs, Visa cards and Internet banking. It also offers fee-free foreign currency transactions.
In 2014 the Cumberland became the first UK building society to offer a mobile payments service linked to a mobile phone number, called Pay2Mobile. It became part of the national Paym mobile payments service later that year.