Shrewsbury Agency

14 August 2014

Principality extends presence in Wales

Wales’ largest building society has opened a new agency in Chepstow, increasing competition and its presence in Wales.

Principality Building Society, which has 70 branches and agencies in Wales and the borders, opened a new agency in High Street, Chepstow, on August 12.

The Society’s 18th agency and 71st retail outlet is partnered with existing estate agency Bidmead Cook, which also runs its Ross-on-Wye agency, to replace a Santander agency that closed in July.

James Enos, Principality’s Agency Manager, said: “We are delighted to be opening our new agency in Chepstow. Our Members tell us they enjoy having us part of their community and we are fully committed to maintaining a high street presence. Chepstow is a location we have been interested in for some time and it’s great to have the opportunity to open a new local agency with professional partners who have such an excellent track record. Bidmead Cook has the staff and experience to ensure Principality can offer a market leading service to the local community of Chepstow.”

The agency opened on August 12, with an official opening planned in September.

Bidmead Cook has 13 estate agencies across south Wales and the borders and has experience in running multiple building society agencies.

Alan Bidmead, Director of Bidmead Cook estate agents said: “We are delighted to welcome the Principality Building Society to our offices in Chepstow, which are situated in a prime High Street position, and are naturally very pleased to be associated with such a progessive and forward thinking company. Bidmead Cook's high priority on providing a personal and friendly level of customer service engages well with the ethos of this highly regarded building society.”

Principality Building Society boasts over 150 years of serving the financial needs of people in and beyond Wales, providing a range of savings accounts, mortgages, insurance products and investments to choose from. It operates as a mutual, meaning there are no shareholders to satisfy and it runs purely for the benefit of its 500,000 members that hold mortgage or savings products with them.

The opening of Principality’s 71st outlet comes as the Society announced strong half year results for 2014 with increased profitability to deliver long-term value and security to our Members, customers, staff and local communities.
Julie-Ann Haines, Principality’s Customer Director, said: “We are committed to our heartland of Wales and the borders and strongly believe that the people deserve choice, diversity and excellent customer service in the financial marketplace.

“While a number of financial institutions have chosen to withdraw from local communities Principality believes a trusted, face-to-face service, delivered from the high street is still vitally important and should complement the work that takes place in our other channels– online and the telephone call centre – to work together effectively for the benefit of Members and customers. ”

Published: 14/08/2014