Vernon Building Society

The Vernon Building Society was founded in July 1924. The name Vernon was chosen because of its local connections and also because it did not conflict with the names of the other 12 building societies in the town! The Vernon grew in size and by 1939 its assets exceeded those of any other local building society. Rapid growth followed during the ensuing years as the directors expanded the Society's operations into the villages surrounding Stockport. In 1971 the Society opened its first branch office in Poynton, shortly followed by branches in Romiley, Hazel Grove and Reddish. Further branches were subsequently opened in Bramhall, Edgeley, and Marple proving successful and beneficial to the Society and more convenient for its members in those districts. In 1977 the Society had the opportunity to purchase premises at 17 St. Petersgate, Stockport. These were acquired, however rapid growth called for further accommodation and in 1988 the Society's purpose built Head Office Building at 19 St. Petersgate was completed. All staff were relocated there and more efficient computer systems were installed. The then innovative 'open-plan' banking hall created a friendlier environment for the thousands of members, who invested with Vernon Building Society. Due to the continued growth of the Society, the Head Office building was extended in 1993 to incorporate a larger Banking Hall and office space. Continued steady growth, without taking excessive risks, has resulted in assets now exceeding £290 million. Of the 13 Societies founded in the town, the Vernon Building Society is now the only local Building Society serving the Stockport area with its six branches. It plans to remain as a trusted provider of financial products to the local population and expects to still be here for many years to come.