Scarborough Building Society was formed in May 1846 - making us the oldest building society in Yorkshire and the second oldest in the UK. The Society's initial objectives were to provide a safe haven for investors' money - and the finance to enable people to build or buy their own homes. [The original investment rate was 5% and the first mortgage was for £120.] These objectives still hold true today with our commitment to mutuality. In 1939 the Society opened its first Head Office, when York House was built in York Place, Scarborough, providing both office accommodation and a full branch. York Place remained in the business as a branch until 2006 when Scarborough premier town centre branch was relocated to Westborough. Direct postal and telephone services were embraced in the early 1990s and our Investments Direct Service was created in 1991, taking the Scarborough investment brand to the whole of the United Kingdom. In 1998 our direct service for mortgages was formalised with the opening of our Direct Mortgage Centre, which has been an outstanding success. Whilst a great deal has changed in our long history, Scarborough Building Society remains committed to mutuality and will continue to provide the true value of a leading regional building society. The Scarborough Group now consists of the core building society and a range of complimentary subsiduary companies.