A Mutual Building Society

We pride ourselves on having maintained our mutual status for more than 150 years.

  • Being a mutual building society means that we are owned by and run for the benefit of our 500,000 Members – our savers and borrowers.
  • Because we do not have any shareholder interests to satisfy, all our profits are put back into your Society, to benefit you, our Members.
  • Our key priority is to keep our Members’ money safe – and our consistently good financial performance reflects this.

How are we different from banks?

  • As a mutual building society, we have no shareholders expecting dividends and the Society is not listed on the stock market.
  • By not having shareholders, building societies can usually run at a lower cost and offer better levels of service than our bank competitors.

Banks generally borrow from the money markets, whereas building societies may not borrow more than 50% of their funds from the wholesale markets. This means that building societies have a limited reliance on the money markets and this contributes to a safer business model.

What is a Member?

You are a Member of Principality if you are an individual and have a mortgage or savings account with us. For further details, click here for Principality Building Society Rules.

This means that you are more than just a customer and this gives you the right to:

  • Make your voice heard
  • Challenge the way your Society is run
  • Vote at our Annual General Meeting (provided you meet the criteria set out in the Society's Rules)
  • Ask questions of the Board

Principality. Where home matters.