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Building Societies

Financial historians says that the first building society was born in Birmingham, England in 1775. This local financial institution emerged into permanent building society, when started accepting new members on the continuous basis.
Building societies was (and still are) very popular across Great Britain where many towns has their own local building society. However, we see consolidation process nowadays, as building societies merge to establish bigger financial institutions. We could see the same situation, when comes to Credit Unions. Bigger scale of operations help to compete with banks.
Building societies are great alternative for people looking for mortgage and other housing needs. In fact, this is the community based financial institution, owned by its members, where mutual benefit is the primary basis of operation, and that work for the financial well-being of their depositors and borrowers.
Shortly saying, building societies are mutual organisations that offer banking, mortgage lending and other financial services. However, building societies are not regular banks, where you can see the pressure to maximise profits.
This way, building societies usually offer better rates of interest on savings and offer cheaper mortgages than competitors on the market.
It seems that building society mutual model continues to maintain the respect and trust of their members and customers. Banking model build on long-term relationships with customers, members owning the business and on transparent culture of doing business, seems very important nowadays in recent and current turmoils, in the global economy.
As we know from the past, building societies usually do not take unnecessary risks in the banking activity. They rather focus on transparency, prudent management, quality, and offering excellent and competitive savings and mortgage products to its members.
We are sure, if building societies going to keep the above-average style of working standards, there is bright future for this kind of financial institutions.
Please browse quality building society sites, listed below in our Best Financial Directory.

Building Societies Featured Listings

Building Societies Regular Listings

Scottish Building Society
Scottish Building Society is keeping pace with Scotland's developing social and economic needs. We maintain careful money-management standards and are active in the promotion of home ownership in Scottish society. Scottish Building has over 30,000 members and continues to grow by offering borrowers an excellent range of mortgage products.

Greater Building Society
We've been around since 1945 and have the largest branch network of any Australian Building Society. We offer wide range of banking and financial services to help make your life better and easier. Our building society is able to allocate a certain percentage of its annual profits towards supporting causes and organizations that improve life outcomes in the Australian local communities.

Southland Building Society
We are New Zealand's member-owed bank. When you become a member you become part of SBS Bank. We're committed to creating a partnership focused on helping you on the journey to personal financial independence. Southland Building Society want to build mutual trust, mutual benefits and most of all mutual respect, starting from your first home, to investing, retirement and anything in between.

Building societies usually offer a range of mortgage products to help those looking to move home or remortgage,
and have a selection of competitive interest rate options for their respected members.

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