Monmouthshire Building Society Repays Furlough

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‘It’s the right and fair thing to do.’ Monmouthshire Building Society repays £75,541 of furlough support.

Like many businesses, the Society took advantage of the UK Government’s furlough scheme to protect jobs and support business resilience during the pandemic.

The Society focused on ensuring members had access to cash and services during the national lockdowns. The Monmouthshire’s commitment to access was further highlighted with the opening of a new branch in Brecon at a time when other financial services are scaling back provision on the high street.

Business News Wales spoke to Will Carroll, the CEO of Monmouthshire Building Society, who you can listen to in our full audio interview below:

Furthermore, Debbie Lewis, the Chair of MBS’ Board says:

“As a modern mutual, we operate for the benefit of our members and the communities we serve. For us that means supporting members on their terms, both in branch and via digital platforms. Having come out of the pandemic in a much a stronger place than we were last year, we believe it’s the right and fair thing to do to repay the financial support given through the furlough scheme.”

The Monmouthshire Building Society joins 125,000 businesses who have all repaid some or all of their furlough support, given to employers under the Coronavirus Job Retention Scheme. More than 11 million jobs have been protected since the scheme was launched by Chancellor Rishi Sunak back in March 2020.

Business News Wales