History
The Southern Co-operative Permanent Building Society was formed in 1884, initially to provide a service to the members of the co-operative movement, enabling them to own their own properties. To begin with the Society built the houses but soon changed its direction to lend money to members for them to build their own or purchase existing properties. Competition soon began between societies and members from outside the movement joined.
Through rapid expansion and strategic planning the Society soon grew to become a major competitor and by 1943 it was fifth largest in the United Kingdom with assets of £32,724,112.
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“Every generation rewrites the past. In easy times history is more or less of an ornamental art, but in times of danger we are driven to the written record by a pressing need to find answers to the riddles of today.... In times of change and danger when there is a quicksand of fear under men’s reasoning, a sense of continuity with generations gone before can stretch like a lifeline across the scary present and get us past that idiot delusion of the exceptional Now that blocks good thinking.”
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