Building society: Difference between revisions

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imported>LucasBrown
Changing short description from "Member‑owned financial institution focused on savings and mortgages" to "Member-owned financial institution focused on savings and mortgages"
 
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{{Short description|Type of financial institution}}
{{Short description|Member-owned financial institution focused on savings and mortgages}}
{{Use British English|date=January 2014}}
{{Use British English|date=January 2014}}
{{Use dmy dates|date=January 2014}}
{{Use dmy dates|date=January 2014}}
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====Current====
====Current====
{{As of|2024|February}}, there are 42 independent building societies,<ref>{{cite web|date=27 February 2024|title=Building Societies Association Factsheet February 2024|url=https://www.bsa.org.uk/getmedia/d99ff64d-3df7-4fb7-9f4d-7ab28bff815a/Assets_Website_4.pdf|url-status=live|archive-url=https://web.archive.org/web/20240227193144/https://www.bsa.org.uk/getmedia/d99ff64d-3df7-4fb7-9f4d-7ab28bff815a/Assets_Website_4.pdf|archive-date=27 February 2024|access-date=27 February 2024}}</ref> all of which are members of the [[Building Societies Association]].<ref name="multiple" />
{{As of|2025|June}}, there are 42 independent building societies,<ref name="BSA Factsheet">{{cite web|date=23 June 2025|title=Building Societies Association Factsheet June 2025|url=https://www.bsa.org.uk/getmedia/32ad672c-9dce-4c3e-9b94-d4f95501cb6f/Assets_Website.pdf|url-status=live|archive-url=https://web.archive.org/web/20250801153501/https://www.bsa.org.uk/getmedia/32ad672c-9dce-4c3e-9b94-d4f95501cb6f/Assets_Website.pdf|archive-date=1 August 2025|access-date=1 August 2025}}</ref> all of which are members of the [[Building Societies Association]].<ref name="multiple" />


{| class="wikitable sortable"
{| class="wikitable sortable"
! rowspan="2" style="width:0%;"|
! rowspan="2" style="width:0%;"|
!  rowspan="2"|Name
!  rowspan="2"|Name
!  rowspan="2"|Group assets<br />(millions)<ref>Total group assets of building societies ''(data from last available annual reports as of March 2023)''.</ref>
!  rowspan="2"|Group assets<br />(millions)<ref name="BSA Factsheet" />
! rowspan="2" width=125pt|Other trading names
! rowspan="2" width=125pt|Other trading names
!  colspan="2" align=right|Numbers of
!  colspan="2" align=right|Numbers of
Line 79: Line 79:
|-
|-
| 1 || [[Nationwide Building Society]]
| 1 || [[Nationwide Building Society]]
| £271,893
| £367,877 {{Efn|Not including the acquired assets of Virgin Money}}
| [[The Mortgage Works]]
| [[The Mortgage Works]]; Subsidiary:  [[Virgin Money UK|Virgin Money]] (inc. [[Clydesdale Bank|Clydesdale Bank)]]<ref name=":0">{{Cite web |title=Mergers and conversions |url=https://www.bsa.org.uk/information/consumer-factsheets/general-information/mergers-and-conversions |access-date=2025-11-13 |website=www.bsa.org.uk}}</ref>
| 605 ||
| 605 +
| 17,680
91 (Virgin Money)
|
| 17,680 {{Efn|Not including the acquired assets of Virgin Money}}
| [[File:Arbcom ru ready.svg|20px|center]]
| [[File:Arbcom ru ready.svg|20px|center]]
|-
|-
|| 2 || [[Coventry Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}
| 2 || [[Yorkshire Building Society]]
| £58,867
| £65,544
|
| 64|| 15
| 2,824
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 3 || [[Yorkshire Building Society]]
| £58,754
| [[Chelsea Building Society]]; Accord
| [[Chelsea Building Society]]; Accord
| 132 || 99  
| 132 || 99  
| 3,117
| 3,117
| [[File:Arbcom ru withdrawn.svg|20px|center]]  
| [[File:Arbcom ru withdrawn.svg|20px|center]]  
|-
|| 3 || [[Coventry Building Society]]
| £64,031 {{Efn|Not including the acquired assets of The Co-operative Bank}}
|Subsidiary: [[The Co-operative Bank]]<ref name=":0" />
| 64 +
50 (Co-operative Bank)
| 15
| 2,824{{Efn|Not including the acquired assets of The Co-operative Bank}}
| [[File:Arbcom ru withdrawn.svg|20px|center]]<ref name=":0" /> {{Efn|Operates current accounts through The Co-operative Bank which is separately administered.}}
|-
|-
| 4 || [[Skipton Building Society]]
| 4 || [[Skipton Building Society]]
| £33,571
| £39,015
|
|
| 82||
| 82||
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|-
|-
| 5 || [[Leeds Building Society]]
| 5 || [[Leeds Building Society]]
| £25,514
| £31,613
|
|
| 50 ||  
| 50 ||  
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|-
|-
| 6 || [[Principality Building Society]]
| 6 || [[Principality Building Society]]
| £11,257
| £14,109
|  
|  
| 54 ||14
| 54 ||14
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 7 || [[West Bromwich Building Society]]
| 7 || [[Newcastle Building Society]]
| £5,689
| £6,556
| [[Manchester Building Society]]
| 31||
| 1,393
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 8 || [[West Bromwich Building Society]]
| £6,362
|  
|  
| 37||
| 37||
| 633  
| 633  
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 8 || [[Newcastle Building Society]]
| £5,313
| [[Manchester Building Society]]
| 31||
| 1,393
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 9 || [[Nottingham Building Society]]
| 9 || [[Nottingham Building Society]]
| £3,813
| £5,227
|
|
| 31||
| 31||
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|-
|-
| 10 || [[Cumberland Building Society]]  
| 10 || [[Cumberland Building Society]]  
| £3,090
| £3,329
|  
|  
| 34||
| 34||
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|-
|-
| 11 || [[National Counties Building Society]]  
| 11 || [[National Counties Building Society]]  
| £2,402
| £2,651
| [[Family Building Society]]
| [[Family Building Society]]
| 1||
| 1||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 12 || [[Progressive Building Society]]{{efn|name=group}}
| 12 || [[Progressive Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}
| £1,900
| £2,085
|  
|  
| 11 ||36
| 11 ||36
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|-
|-
| 13 || [[Cambridge Building Society]]  
| 13 || [[Cambridge Building Society]]  
| £1,859
| £2,006
|  
|  
| 13||
| 13||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 14 || [[Newbury Building Society]]  
| 14 || [[Monmouthshire Building Society]]
| £1,547
| £1,699
|         
| 11 ||11
| 145
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 15 || [[Newbury Building Society]]  
| £1,649
|  
|  
| 10||
| 10||
| 180  
| 180  
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 15 || [[Monmouthshire Building Society]]
| £1,488
|         
| 11 ||11
| 145
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 16 || [[Saffron Building Society]]  
| 16 || [[Saffron Building Society]]  
| £1,286
| £1,480
|  
|  
| 8||  
| 8||  
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 17 || [[Leek United Building Society]]  
| 17 || [[Furness Building Society]]
| £1,238
| £1,397
|
| 9 ||
| 177
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 18 || [[Leek United Building Society]]  
| £1,365
|  
|  
| 12 ||  
| 12 ||  
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 18 || [[Furness Building Society]]  
| 19 || [[Darlington Building Society]]  
| £1,236
| £935
|  
|  
| 9 ||
| 9 ||
| 177
| 113
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 19 || [[Darlington Building Society]]  
| 20 || [[Suffolk Building Society]]{{efn|name=group}}
| £833
| £911
|  
|  
| 9 ||
| 9 ||1
| 113
| 123
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 20 || [[Hinckley and Rugby Building Society]]  
| 21 || [[Scottish Building Society]]  
| £812
| £866
|  
|  
| 7 || 2
| 6 ||61
| 116
| 71
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 22 || [[Market Harborough Building Society]]
| £863
|
| 5 ||
| 118
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 21 || [[Suffolk Building Society]]{{efn|name=group}}
| 23 || [[Hinckley and Rugby Building Society]]  
| £799
| £832
|  
|  
| 9 ||1
| 7 || 2
| 123
| 116
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 22 || [[Marsden Building Society]]  
| 24 || [[Marsden Building Society]]  
| £734
| £796
|  
|  
| 8||
| 8||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 23 || [[Melton Building Society]]{{efn|name=group}}  
| 25 || [[Melton Building Society]]{{efn|name=group}}  
| £715
| £731
|  
|  
| 5 ||
| 5 ||
Line 239: Line 257:
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 24 || [[Market Harborough Building Society]]  
| 26 || [[Swansea Building Society]]  
| £647
| £694
|
|  
| 5 ||
| 4 ||
| 118
| 36
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 25 || [[Scottish Building Society]]  
| 27 || [[Tipton & Coseley Building Society]]{{efn|name=group}}
| £645
| £633
|  
|  
| 6 ||61
| 4||
| 71
| 83
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 26 || [[Dudley Building Society]]  
| 28 || [[Dudley Building Society]]  
| £545
| £625
|
|
| 5 ||
| 5 ||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 27 || [[Tipton & Coseley Building Society]]{{efn|name=group}}
| 29 || [[Loughborough Building Society]]{{efn|name=group}}  
| £540
| £556
|
| 4||
| 83
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 28 || [[Loughborough Building Society]]{{efn|name=group}}  
| £533
|
|
| 5 || 1
| 5 || 1
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 29 || [[Swansea Building Society]]  
| 30 || [[Mansfield Building Society]]{{efn|name=group}}
| £530
| £548
|  
|
| 4 ||
| 4 ||
| 36
| 73
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 30 || [[Hanley Economic Building Society]]  
| 31 || [[Hanley Economic Building Society]]  
| £516
| £528
|  
|  
| 7 ||
| 7 ||
| 73
| 73
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 31 || [[Mansfield Building Society]]{{efn|name=group}}
| £485
|
| 4 ||
| 73
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 32 || [[Vernon Building Society]]  
| 32 || [[Vernon Building Society]]  
| £417
| £506
|  
|  
| 6 ||
| 6 ||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 33 || [[Teachers Building Society]]  
| 33 || [[Chorley & District Building Society]]{{efn|name=group}}
| £375
| £428
|
| 3||
| 50
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 34 || [[Harpenden Building Society]]{{efn|name=group}}
| £423
|  
|  
| 1 ||
| 4 ||
| 39
| 64
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 34 || [[Bath Building Society]]  
| 35 || [[Bath Building Society]]  
| £362
| £405
|  
|  
| 2 ||
| 2 ||
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| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 35 || [[Buckinghamshire Building Society]]{{efn|name=group}}
| 36 || [[Teachers Building Society]]  
| £355
| £377
|  
|  
| 1 ||
| 1 ||
Line 323: Line 334:
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 36 || [[Chorley & District Building Society]]{{efn|name=group}}  
| 37 || [[Buckinghamshire Building Society]]{{efn|name=group}}  
| £334
| £361
|  
|  
| 3||
| 1 ||
| 50
| 39
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
| 37 || [[Harpenden Building Society]]{{efn|name=group}}
| £306
|
| 4 ||
| 64
| [[File:Arbcom ru withdrawn.svg|20px|center]]
| [[File:Arbcom ru withdrawn.svg|20px|center]]
|-
|-
| 38 || [[Ecology Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| 38 || [[Ecology Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| £304
| £337
|
|
| 1 ||
| 1 ||
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|-
|-
| 39 || [[Stafford Railway Building Society]]{{efn|name=group}}  
| 39 || [[Stafford Railway Building Society]]{{efn|name=group}}  
| £292
| £324
|  
|  
| 1 ||
| 1 ||
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|-
|-
| 40 || [[Beverley Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| 40 || [[Beverley Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| £198
| £223
|  
|  
| 1 ||
| 1 ||
Line 359: Line 363:
|-
|-
| 41 || [[Earl Shilton Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| 41 || [[Earl Shilton Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| £163
| £183
|  
|  
| 2 ||
| 2 ||
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|-
|-
| 42 || [[Penrith Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| 42 || [[Penrith Building Society]]{{efn|name=group|These societies do not form part of a corporate business group, although they may own other businesses.}}  
| £138
| £147
|  
|  
| 1 ||
| 1 ||
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====Demutualised====
====Demutualised====
Ten building societies of the United Kingdom [[Demutualization|demutualised]] between 1989 and 2000, either becoming a bank or being acquired by a larger bank.<ref>[http://www.bsa.org.uk/consumer/factsheets/100010.htm Building Society Takeovers and Flotations] {{Webarchive|url=https://web.archive.org/web/20070927225411/http://www.bsa.org.uk/consumer/factsheets/100010.htm |date=27 September 2007 }} Building Societies Association website . Retrieved 5 April 2007.</ref><ref name="pollock">{{Cite news
Ten building societies of the United Kingdom [[Demutualization|demutualised]] between 1989 and 2000, either becoming a bank or being acquired by a larger bank.<ref>[http://www.bsa.org.uk/consumer/factsheets/100010.htm Building Society Takeovers and Flotations] {{Webarchive|url=https://web.archive.org/web/20070927225411/http://www.bsa.org.uk/consumer/factsheets/100010.htm |date=27 September 2007 }} Building Societies Association website . Retrieved 5 April 2007.</ref><ref name="pollock">{{Cite news
|url=http://news.bbc.co.uk/1/hi/business/7641925.stm
|url=https://news.bbc.co.uk/2/hi/business/7641925.stm
|title=Not such a good idea after all?
|title=Not such a good idea after all?
|work=[[bbc.co.uk]]
|work=[[bbc.co.uk]]
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