Building Societies (Financial Economics)

Building societies are financial institutions that are owned by their members, who are also their customers. They are mutual organizations, which means that any profits are distributed among the members and not to shareholders.

Building societies provide a range of financial services, including mortgages, savings accounts, and personal loans. They are similar to credit unions and savings and loan associations in the US.

• Nationwide Building Society: This is the largest building society in the UK and one of the largest mortgage providers in the country. It offers a range of financial services including mortgages, savings accounts, and personal loans.
• Yorkshire Building Society
• Coventry Building Society
• Skipton Building Society: It is one of the UK's oldest and largest mutual building societies, founded in 1853.
• The Ecology Building Society : It is a mutual building society based in the UK, it operates through a network of branches across the country, their focus is on providing ethical and environmentally friendly mortgages and savings accounts.

Building societies have a long history in the UK, they were first established in the 19th century to help people save money and buy their own homes. Today they are an important source of mortgages and savings accounts for many customers in the UK.