We chose the name rebuildingsociety.com because it has several different, but positive connotations. It is a nod towards the old principals of mutuality where the good of the community was the founding aim and a realisation that bank finance and the excesses that caused the financial crisis have damaged society.
Building societies used to be the financial bedrock of the community. They allowed people to become savers and borrowers in equal measure with the end goal of owning their own property. They existed in the first place not to make profit, but primarily to provide a service to their members.
We’re similar because we’re committed to creating value for everyone that uses us, whether that’s businesses looking to raise vital growth finance or individuals looking for a better return on their money than returns offered by retail banking products or the stock market. We encourage interaction between both sides and view a loan transaction as an opportunity to widen networks and help others be successful.
We also believe in valuing productivity (profitable UK businesses with the capacity to employ local people and benefit the economy) over speculation – gambling away savers’ cash for short term reward and taking money out of the economy through bonuses and investing in property.
We combine these principles with bespoke technology to enable transactions between businesses and individuals that cut out waste and employ money in an inherently beneficial way for the future prosperity of society.