BRITANNIA Building Society, which has pledged to keep its mutual status, has hit on a popular scheme with its members, who receive a share of its profits each year.

According to an investigation by City Research Associates into Britannia's members loyalty bonus scheme, 71 per cent of the Society's qualifying members feel valued as customers, regardless of the size of bonus received. A further 84 per cent think the bonus scheme is worthwhile.

Mr Gerald Gregory, director of marketing at the Society, which is based in Leek, Staffordshire, commented: "This is the first year that a bonus has been paid and the research tells us our members, as the owners of the business, appreciate sharing in the profits they have helped to create.

"Britannia's members loyalty bonus scheme is seen as a clear, tangible example of mutuality."