17 April 2015
What is a building society?
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Building Society Infographic
A mutual building society is owned by and run for the benefit of its Members (savers and borrowers).
No shareholder interests to satisfy, so all our profits are put back into the society, to benefit the Members.
The key priority is to keep Members’ money safe.
What’s a Member?
Members are individuals who have a mortgage or savings account with a building society
More than just a customer, this gives you the right to:
- Make your voice heard
- Challenge the way your society is run
- Vote at an Annual General Meeting
- Ask questions of the Board
No shareholders expecting dividends means lower running costs and better service levels.
Building societies aren’t listed on the stock market.
Unlike banks, building societies have a limited reliance on the money markets leading to a safer business model.