The accreditation by the Good Business Charter rewards the BSA for demonstrating how its ethos of doing business in a socially responsible way is applied throughout the organisation.

It celebrates such practices as paying the real living wage and commitment to colleagues’ work-life balance, to its prompt supplier payments, transparent tax arrangements and focus on minimising its impact on the environment.

The Charter, which seeks to raise the bar on business practices, is a simple and effective way to measure an organisation’s values and ethics.

It put the BSA in an excellent position to champion the Good Business Charter to their building society and credit union members.

Robin Fieth, BSA chief executive said: “The Good Business Charter represents businesses which promote and implement responsible business practices and that’s why we’re so proud to be part of it.

“At a time when people are caring more about the types of organisations they work for and do business with, this accreditation is a simple way to demonstrate our values-driven approach to the way we behave.”

Jenny Herrera, CEO of the Good Business Foundation which runs the Good Business Charter accreditation said: “We are so pleased that the Building Societies Association has joined the Good Business Charter, one of the first membership associations to do so.”

“The West Bromwich and Saffron building societies have already received Good Business Charter accreditation and we hope the recognition they have achieved through impressive media coverage of their accreditation will inspire other building societies to take this opportunity to show to their employees, customers and suppliers that they are serious about responsible business.”