2026 Modern Slavery Statement

As a mutual organisation, we are owned by our members and customers. We’ve been run for their benefit for over 160 years. 

We are committed to making sure our members, customers and everyone who works with us are treated fairly and ethically.

 

About Yorkshire Building Society 

Yorkshire Building Society trades under the brands Yorkshire Building Society, Chelsea Building Society, Norwich & Peterborough Building Society, and Accord Mortgages Ltd (our wholly owned intermediary lending subsidiary). We are also one of the members of YBS Covered Bonds LLP. 

Our purpose is to provide ‘Real Help with Real Life’ for our members and customers. We offer savings and mortgage accounts, and work with intermediaries to offer life, home, and critical illness insurance. 

Additionally, we provide mortgage finance to businesses through YBS Commercial Lending.

 We’re based in the UK and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). 

We’re governed by a Board of Directors, responsible for our direction and future success. The Board includes Executive and Non-Executive Directors, supported by committees who look after different areas of expertise. 

 

How we protect our members, customers and colleagues from the risk of modern slavery and human trafficking

Risk Assessment and Due Diligence 

Protecting our members and customers

Any form of modern slavery or human trafficking is a crime, with any money or benefits from these activities classed as proceeds of crime. 

It’s our responsibility to make sure:

• our members and customers are not using our products to perpetrate or facilitate financial crime, including Modern Slavery offences.
• we have the correct controls in place to find, stop and prevent our members and customers committing, or being exposed to financial crime. 

We do this by continually evaluating our risk exposure and the effectiveness of our controls. We carry out robust checks and regular financial crime risk assessments across the whole business. 

We proactively work to improve how efficient and effective these checks are, and to make sure they meet industry, legal and regulatory standards. 

All colleagues and suppliers must report any suspicions of modern slavery or human trafficking. We promptly and thoroughly investigate all reports. The reporting process is included in the Modern Slavery and Financial Crime policies. 

 

Protecting our colleagues

Our colleagues are key to our success. We must attract and keep the best talent to deliver the best experience for our members and customers. 

Before starting work with us, colleagues go through a number of checks. We check their background, their eligibility for the role, and their right to work in the UK. 

All colleagues earn at least the Real Living Wage and can join an independent union. 

We also carry out annual financial and anti-fraud screening, on all colleagues. This helps us check if any colleagues have been victims of fraud or are having financial difficulties and might need help. 

We’re committed to our colleagues’ wellbeing. This is reflected in the benefits we offer, which includes discounted access to critical illness cover, private medical insurance, and health and dental cash plans. All of these can be bought using monthly salary deductions, over a 12-month period. 

We’ve improved our Family Leave policy to support colleagues, introducing paid carers’ leave. We also have five established colleague networks (Accessibility, Ethnicity, Parents & Carers, Proud and Women’s) and two groups (Family Foundations and ManKind). They have a combined membership of over 760, providing a safe place to discuss issues that directly impact them.

We closely monitor key wellbeing metrics, including levels of sickness and absence. This helps us identify trends and make sure our colleagues have access to the right level of support. 

 

Our supply chain

Most of our supply chain comes from UK companies, but a small number is international. Our supply chain team is supported by an external procurement team. 

Our ‘Minimum Standards for Suppliers’ document explains the standards our suppliers must meet. We include this document in our tender process for new suppliers.

Everyone who works with us signs a contract, including suppliers. This sets out the intentions, rights and obligations of each party, and helps to mitigate risks.

Before signing a contract, all suppliers go through due diligence checks to make sure they’re not at risk from modern slavery or human trafficking. After signing a contract, we follow our Procurement and Third-Party Risk Policy. This helps us check if our suppliers have become at risk of slavery or human trafficking since working with us. 

We also continuously monitor our suppliers to make sure we’re delivering the best experience for our members and customers. The level of monitoring depends on the importance and risk level of the supplier relationship. 

Colleagues who look after our supplier relationships go through training to help them recognise the signs of modern slavery or human trafficking. 

 

Our policies linked to modern slavery and human trafficking

Our Modern Slavery Policy helps us make sure we investigate and deal with suspected slavery or trafficking promptly and responsibly. 

Our Financial Crime Policy sets out the approach to identifying and managing financial crime risk, and to set appropriate standards for all colleagues and other individuals who work for or on behalf of the YBS Group.

Our Financial Crime Business Standard sets the minimum standard for all colleagues and suppliers. This makes sure we comply with regulations and protect our members from potential financial crime and abuse. 

Our Recruitment Policy provides a framework for the recruitment and selection of colleagues, based on our recruitment principles. 

Our Trust Code (also called our ‘Colleague Code of Conduct’) sets out the standards of conduct and integrity all colleagues and suppliers must meet. These standards help to create a respectful and inclusive workplace culture. 

Our Procurement and Third-Party Risk Policy explains our attitude towards third party risk and the steps we take to identify, assess and manage this risk.

Our Supplier Procurement Code of Conduct and Minimum Standards for Suppliers helps make sure any supplier risks are identified and managed effectively. 

The goal of our Whistleblowing Policy is to give all colleagues and suppliers confidence to raise any concerns. All concerns are taken seriously and treated confidentially. 

Our Domestic, Financial & Economic Abuse Guide helps colleagues learn how to recognise when a customer might be a victim and/or survivor and how to support them.

We also have mandatory Financial Crime training for all colleagues, with a section focused on Modern Slavery. 

 

Our effectiveness and progress 

In 2025, there were no reports of human trafficking or modern slavery linked to our colleagues or supply chains. 

What we will do in 2026

Pledge 1 – We will monitor how the business follows our Modern Slavery Policy, and make sure we maintain the training and awareness that underpins this policy. 

Pledge 2 – We will maintain the controls which assess current and potential suppliers against the risk of Modern Slavery and Human Trafficking. 

Pledge 3 – We will continuously review our key ‘tier 1’ policies to make sure our controls effectively prevent Modern Slavery and Human Trafficking. 

Pledge 4 – We will monitor changes in our external environment, including emerging risks, new legislation, and best practices, to make sure our approach stays relevant and proactive. 

Pledge 5 – Our strategic objectives and investment align with our commitment to preventing Modern Slavery and promoting ethical practices. 

In 2026 and beyond, we will continue to review and mature all policies and guidance, to ensure that the actions we take effectively safeguard the Society, our members and customers, our suppliers, and the wider community against Modern Slavery.

This statement was approved by the Boards of YBS and Accord in March 2026 respectively and is signed on behalf of those Boards by: 

Name: Tom Ranger (Chief Financial Officer).