Iconic Harborough company celebrates 150 years in business, having survived two world wars and several recessions since it started out way back in 1870

One of Market Harborough’s most iconic and historic businesses is celebrating chalking up 150 years.

Market Harborough Building Society was founded in 1870, when Queen Victoria sat on the throne, to encourage people to save and help them buy their own homes.

The building society is going stronger than ever a century and a half on as its 120 dedicated staff confront the devastating Covid-19 crisis head on.

Based on The Square in Market Harborough, the financial powerhouse’s head office, Welland House, gazes out across the town’s emblematic war memorial and thriving town centre.

Mark Robinson, 63, the chief executive of Market Harborough Building Society, said: “I am very proud to be the CEO of this fantastic building society as we celebrate our 150th birthday.

“We have come through two world wars and several recessions since we started out way back in 1870.

“The coronavirus is just the most recent episode we have to contend with – and we will come through this as well.”

The dad-of-two added: “We were set up to provide a safe home for local people’s savings – and help provide a safe home for them as well.

“Some 150 years on those outstanding Victorian values still guide us today as a mutual member-owned business.

“We are in very good shape.

“We employ 120 staff, have a £500 million-plus balance sheet and £43 million reserves.

“That gives us a very solid base to build on.

“I’m very lucky to be chief executive here as we look forward to the next 150 years.”

Mark, the building society’s chief executive for the last 12 years, said they had adapted almost overnight after the Covid-19 pandemic struck the UK in the spring.

“In many ways we are still the same business as we were 150 years ago.

“But crises such as this one accelerate change and we have had to react quickly,” said Mark, who lives in Market Harborough.

“Our six local branches are all open but most of our staff are working at home and the change has been seamless.

“This is certainly not the year we expected.

“Times have obviously changed.

“But we have a fantastic workforce and they have risen to tackle this huge challenge magnificently.

“You cannot be over all the detail all the time.

“It’s been a different experience in terms of running the business for me.

“You have to let people make their own decisions and the quality of the people here allow you to do that.

“It’s been a good year in some ways.

“We have won the Harborough Business of the Year award.

“Our customers have been incredible – they’ve been very patient and very understanding.

“We have had to solve a lot of different, difficult problems over the last few months and we are working much more flexibly as a result.”

The building society first met in the Corn Exchange in Market Harborough before switching to the Old Grammar School on the High Street for two years.

In 1872 they moved to the New Hall at the Sheep Market – renting it for a princely 2/6d (12.5p) a night with heating and lighting generously thrown in.

The society held fortnightly meetings to collect subscriptions from members.

It still has the priceless 19th century ledgers, elegantly completed in copperplate handwriting.

In 1879 the well-known J W Newcombe became Secretary (now known as chief executive) as the company acquired its first offices on St Mary’s Road.

Boasting over 30,000 savings members, the society now has branches in Kibworth, Desborough, Rothwell, Kettering and Corby as well as in Market Harborough.

“We have always done our best to support the local community and our Charitable Foundation has made grants of almost £300,000 since it was created,” said Mark.

“If you have a good cause seeking support then please visit our Charitable Foundation for more details.”

You will find out more about the society’s Charitable Foundation here: https://mhbs.co.uk/my-membership/charitable-foundation/

“We are deferring many of the special events we’d planned to celebrate 150 years this summer until 2021.

“I’m just a caretaker here and Market Harborough Building Society will be here long after I’ve gone,” said Mark.

“But there is a lot of satisfaction in helping to keep our brilliant business so vibrant and right at the heart of so many people’s lives in Market Harborough and the surrounding area.

“And we will continue to do our very best for all of our staff and all of our customers in South Leicestershire and Northamptonshire for many more years well into the future.”