The Cumberland Building Society is officially one of the best places to work in the UK, having again improved its ranking in Best Companies’ annual survey.

It was rated as the 10th best large employer nationally – up from 17th place last year – the 11th best employer in the North West, regardless of size, as well as the 2nd most highly rated in Scotland and the 2nd highest in financial services.

Its placement in the top 10 large companies to work for also makes The Cumberland the highest-ranked Building Society and the second highest-ranked financial institution in the UK.

The Cumberland, which celebrated its 175th anniversary this year, has also retained three-star accreditation given only to organisations that “truly excel” and provide “world-class levels of workplace engagement”.

Chief executive Des Moore said: “This is another fantastic achievement for The Cumberland. It shows that the work we’ve been doing to improve the workplace culture is bearing fruit.

“Our ambition is to nurture a culture where people are valued, feel they can speak freely and, when they do, are heard.

“This result shows we are well on the way to achieving that, but we’re not complacent. We know there is more to do.”

Best Companies’ findings carry added weight because they are based on anonymous feedback from more than 700 Cumberland colleagues.

Eighty-one per cent said the experience they get at work is valuable for their future while 92 per cent agreed that their manager “talks openly and honestly with me” and that colleagues “go out of their way” to help each other.

Best Companies praises The Cumberland for the way it looks after the mental and physical wellbeing of colleagues and its commitment to gender inclusivity.

It notes that the Society is a living wage employer, with reward schemes based on performance and quality of service, while the Power Hours programme supports colleagues in gaining new skills.

It adds that The Cumberland promotes transparency and communication through weekly emails and quarterly townhalls, keeping colleagues informed and engaged.

And it describes The Cumberland as “an institution that holds dear its roots in community values” singling out recycling and energy-saving practices, and the Kinder Kind of Kitchen initiative which is helping to address food poverty in the region.

Based in Carlisle, The Cumberland is the largest financial institution in Cumbria with assets of £3.3 billion, mortgage lending of £447 million and 31 branches across its operating area.