The Britannia Building Society, based in Leek, says an increase in demands for mortgage products means it needs to recruit more staff for its membership service department.

John Suffolk, managing director of member businesses, said Britannia was committed to the local area.

He told BBC Radio Stoke: "This is good news for Britannia in the local community.

'Local commitment'

"This is the latest announcement that we have made and it does see 200 new jobs created in Leek this year.

"It is a great sign of our commitment to the local area."

In September, more than a million members of Britannia building society were told they would receive a share up to £40m, as part of the company's loyalty bonus scheme.

The final amount members will receive in February has not yet been decided, although it could be worth about £35- £40 each, with maximum payments of up to £500.

Britannia has so far paid out £250m in bonuses over the six years since it has been running the loyalty scheme.