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The other main class of consumer financial service organisation in the United Kingdom is the building society. The building society sector has become much smaller with fewer building societies. This was caused, firstly, a number of building societies demutualising in the 1980s and 1990s and subsequently, taken over by banks.
Southland Building Society, which in October 2008 became a registered bank known as SBS Bank. However, it remains a building society and retains its mutual structure. Hastings Building Society merged with SBS Bank in October 2010, but with the Hastings Building Society brand continuing to operate as a building society under the name of HBS Bank ...
Nationwide Building Society is the largest retail bank in the United Kingdom (by number of branches), [2] and the world's largest building society, serving over 16 million members. [3] It operates as a British mutual financial institution, meaning it is owned by and run for the benefit of its members.
Dormant Bank and Building Society Accounts Act 2008; F. Freehold Land Societies; P. Progressive Building Society; S. Scottish Building Society
Yorkshire Building Society is the third largest building society in the UK, [3] with its headquarters in Bradford, West Yorkshire, England. It is a member of the Building Societies Association . At December 2023, the Society had total assets of more than £60 billion.
The Society’s name was changed to the Britannia Building Society the following year. Following the acquisition of the Bristol & West in 2005, the Britannia became the second-largest building society in the UK (based on total assets of £36.8 billion) at 31 December 2007. [1] [2]
Credit unions in the UK now offer a wide range of services to their members; including current accounts, payroll deductions, standing orders and insurance. Co-operative or mutual organisations engaging in cooperative banking , such as building societies , have existed in the UK since the 18th century.
Leeds Building Society (formerly known as the Leeds and Holbeck Building Society) is a building society based in Leeds, England.It serves approximately 719,000 customers across the United Kingdom, who together hold £9.9 billion in savings balances and is the fifth largest building society in the UK. [2]