Business

Progressive Building Society 'engaging with staff' over future of Belfast branch

Progressive Building Society is currently engaging with staff at its Arthur Square branch in Belfast city centre regarding its future. Photo: Hugh Russell
Progressive Building Society is currently engaging with staff at its Arthur Square branch in Belfast city centre regarding its future. Photo: Hugh Russell Progressive Building Society is currently engaging with staff at its Arthur Square branch in Belfast city centre regarding its future. Photo: Hugh Russell

FEARS are emerging for the future of jobs at a branch of the Progressive Building Society in Belfast city centre.

The society confirmed that it has conducted a thorough review of its branch network.

And a spokesman told the Irish News: "We are currently engaging with our staff at the Arthur Square branch in Belfast city centre regarding its future.

"As we are in consultation with the staff at the branch, we cannot comment until that process is complete, and the process only relates to the Arthur Square branch."

Progressive, founded in 1914, is Northern Ireland’s largest locally owned financial institution and its only locally-owned mortgage and savings provider.

In its last set of published accounts covering 2018 (last year's figures are due to for release later this month) its new mortgage lending amounted to £219m, an increase of over 9 per cent on 2017.

It also created six new jobs in 2018, bringing employment to 180 people across its 12 branches and its Belfast headquarters at Wellington Place.

Progressive has described itself as “an integral part of the economy, enabling local saving members to fund home ownership for local people”.