"Second, it operates what is known internally as the "church tower principle", which translates as only doing business with people you can see from the local church tower. This means credit decisions - and, critically, responsibility - is taken at branch level. There are no targets, no rewards for high volume loans, no profit goals - and it employs friendly people to answer its phones, not annoying machines.
Local managers deal with all customers, whether penniless students, high-worth families or corporate giants. Instead of applying nationally-set formulas, they decide on 98 per cent of loans. And if something goes wrong, they pick up the pieces instead of having specialist central teams sort out the problems, as happens at rivals."No connection, except I'm now applying for a current account.