West Bromwich Building Society today launched an historic £5 million rebranding that it hopes will help it recover from its financial crisis.

Now trading as ‘the West Brom’, a new purple and green logo is being brought in at all its 39 branches, the High Street headquarters in West Bromwich and its website.

The society has also started a major investment programme to modernise its branch network, employing 350 staff, which will be rolled out over the next 18 months.

Robert Sharpe, chief executive, said: “This radical change of image represents an exciting new era for the West Brom, with a revitalised brand, a fully refurbished branch network that members, staff and local communities can be extremely proud of.

“The emphasis is very much on making members feel welcomed and valued.”

Today’s launch comes just days after the society revealed it had attracted 21,000 new members and slashed its losses by half just 18 months after it was brought to its knees in the depths of the recession.

The society has gone “Back go Basics” – a move that has seen losses in the last six months drop to £5.5 million from £1.7 million a year ago as income rose by £1 million to £24.9 million.

Earlier this year MrSharpe told members at the annual meeting that he was “ashamed” to walk into some of the society’s branches because of their poor state, and promised things would change.

The first branch to showcase the West Brom’s new look  in  full is Handsworth in Birmingham.

Mr Sharpe added: “We have opted for a style and choice of facilities that reflects our determination to move with the times, but also remains true to our heritage and mutual status.”
Work on the remaining branches will start in the New Year, although all branch fascias are now in the process of being upgraded.