The new branding was unveiled to members at its 171st annual general meeting (AGM) held yesterday in a virtual format.
The name change was approved last year at the building society’s last AGM when it was decided switching to ‘Suffolk Building Society’ would widen its appeal and promote growth.
A new brand style was also unveiled which, although modern and forward-facing, incorporates the history of the society’s community too.
The rebrand is currently underway and will be rolled out in person, in print and across digital channels during the autumn.
Ipswich commissioned third-party research amongst members, staff and the general public in six key locations across the area it serves before launching the rebrand.
The results of this research highlighted the proposed new name was more inclusive, sustainable and appealing to people within the Society’s home county and beyond.
In fact, during the mutual’s 171 year history, there have been various iterations of the company name, several of which referenced its county-wide heritage.
Indeed, in 1849 it was known as Ipswich and Suffolk Permanent Benefit Building Society and Ipswich and Suffolk Freehold Land Society established.
In 1969 ‘Permanent Benefit’ was cut from name resulting in Ipswich & Suffolk Building Society. This then progressed on to Ipswich Building Society before evolving to the new name announced today.
Richard Norrington, CEO at Ipswich Building Society, said: “We have always been here to ‘protect the money of generations for generations’ and this is the case both now and in the future as we put in place the processes to implement our change of name. This name change is crucial for the future sustainability of the Society, and I thank our members who voted in favour of our decision.”
Alan Harris, chairman of Ipswich Building Society, added: “This AGM and the member approval of our name change last year marks an important new era in our history, and it seems especially important today to thank all of our staff for their ongoing dedication and commitment.
“We very much look forward to continuing to serve our communities both locally, regionally and nationally as we begin our journey towards becoming Suffolk Building Society.”
