Our Members
Progressive Building Society was designed and built upon delivering the best possible financial service and benefits for our local society. Owned and run by its Members for over 100 years when we say it’s ‘your’ society, we really mean it.
We don’t have external shareholders, so everyone who has a savings account or a mortgage with us is a much-valued Member. The money we receive from savers goes straight back into the Society to help local people get onto or move up the property ladder.
We simply and fairly help each other.
Mutuality
Progressive has mutual status, which means that we’re owned by and run for, the benefit of our Members. For over 100 years we have been putting the needs of our Members first and intend to do so for many years to come.
As a mutual we do not have external shareholders to pay dividends to, so we can share the results of our success with our Members. The money we receive from savers goes back into the Society and is used to help people who require financial assistance to purchase a house or get on the property ladder.
Better Together
Despite the turbulent financial sector of late, Progressive Building Society has continued to develop, putting its Members first and offering a fair and transparent service for all.
We believe in rewarding loyalty, so you’ll get a better interest rate on your savings than a bank would offer.
It’s all part of working together, for the better of everyone.
Our History
Progressive Building Society is an integral part of the life of Northern Ireland despite its humble origins.
Born out of the merger of 5 tiny societies it first opened its doors under the “Progressive” name in 1914.
In the early years, Progressive was led by Samuel Howard until his retirement in 1940 when the assets of the society totalled only £8,000
Samuel Howard’s successor was Hugh Brown, a teacher with a vision for Northern Ireland’s building society sector, who subsequently left teaching to devote his life to the organisation.
Under his leadership, Progressive grew and thrived with assets reaching £1 million in 1960.
By 1965 Progressive’s position was so strong that Hugh Brown began planning a new Head Office building to be built near the centre of Belfast. Progressive House opened for business in 1967.
By the time he retired in 1981, Hugh Brown could look back on 40 years of growth and an emerging branch network. He had also carefully sought out a worthy successor with the drive and enthusiasm to take Progressive to a new level.
The new Chief Executive was Bill Webb who brought flair, imagination, and new business philosophies to his new role.
Under his direction, Progressive extended its branch network all over Northern Ireland and created a network of dedicated agents bringing the Progressive service to many small communities not served by the banking sector.
Following the retirement of Bill Webb in 2010, Darina Armstrong (former Finance Director) took over the CEO role.
Progressive continued to build its reputation for the finest quality of service mainly by word of mouth through the recommendations of its members.
Despite the growing commercial pressures facing the financial services sector, Progressive remained dedicated to its aim of sharing profit by the application of beneficial interest rates that reward its members for their loyalty and association.
In 2023, following the retirement of Darina Armstrong, Michael Boyd took over the Chief Executive role. Michael, who was previously Deputy Chief Executive and Finance Director, has 27 years’ experience working at the Society and continues to lead a strong and vibrant organisation.
Purpose, Vision & Values
We have become a part of the fabric of Northern Ireland life, respecting and rewarding all our Members for their loyalty and association, keeping the cycle of local life running smoothly.
We will continue to support local people saving, to support local people buying homes, to support the local economy and to support each other.
Our Purpose
We are passionate about helping local people to save and champion homeownership through our personal, caring and responsible approach.
Our Vision
To be the number one provider of savings and mortgages by building life-long relationships across Northern Ireland.
Core Values
Environment
We care about the impact we have on the environment.
People
We value the energy, drive and enthusiasm of our people.
Trust
We build and strengthen relationships through trust, mutual respect and courtesy.
Passion
We are passionate about supporting our community and our economy.
Honesty
We always work with honesty, fairness and integrity.
Financials
Stay up to speed with all the financial goings-on at Progressive with our fully transparent Annual Reports and Accounts, Summary Financial Statement and Pillar 3 Disclosures.
Annual General Meeting
The 110th Annual General Meeting (AGM) of your local building society took place on Tuesday 29th April 2025 at The Killyhevlin Hotel, Dublin Road, Enniskillen, BT74 6RW.
The Society would like to thank all Members who participated in the 2025 AGM vote for the overwhelming support given to the Board's recommendations.
Progressive Building Society pledged to donate 20p for every postal vote and £2.50 for every online vote cast and this has resulted in a donation of £5,000 to Autism NI.
Progressive and the Environment
We’re committed to the environment and try where possible, to implement Corporate Social Responsibility across all sections of our business, from reducing the amount of paper we use to saving energy on a daily basis.
Take a look at our Environmental Policy for more information, or see how we put our words into action below.
Late 1990s - Early 2000s
Since the late 1990s the Society has participated in the Northern Ireland Environmental Benchmarking Survey in conjunction with Business in the Community.
The survey was established in 1995 to coordinate all business environmental initiatives in Northern Ireland and to provide an environmental support service to local industry.
The survey benchmarks organisations on the basis of their environmental management and performance in key areas. The survey helps organisations analyse gaps, measure progress, drive improvement and raise awareness of the environment as a strategic, competitive issue. The survey is designed to test how well organisations have developed their approaches to environmental management and assess how they are performing.
The Society created an Environmental Policy in 2006 and at the same time implemented an Environmental Management System (EMS) aimed at improving the Society’s environmental performance.
2020 - 2021
In 2020, the Society created an Environmental Strategy designed to improve both the running of the Society’s operations and the products and services offered to Members.
This strategy is based around a framework of 9 core areas and includes aggressive targets to move the Society to Carbon Net Zero.
In 2021 the Society also offered its first ‘Green Mortgage’ which offers a more competitive interest rate to customers purchasing an energy efficient house.
2022 - The Present Day
In 2022, the Society donated to the Woodland Trust towards the protection of woods and trees in Northern Ireland for the benefit of people, wildlife and the climate.
Furthermore, the Society also paid the Woodland Trust a fee of £10,000 to absorb 400 tonnes of carbon dioxide, helping with our strategy to reduce our business carbon footprint. This is more than double the amount of carbon dioxide the Society produces from its direct business operations.
A visible demonstration of our environmental commitment and drive for sustainable improvement, The Society is an Investor in the Environment (IIE) Member and is currently working towards IIE Bronze Accreditation.