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Economics

Study Notes

Building Societies (Financial Economics)

Level:
A Level
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Building societies are owned by their members (i.e. customers) and not shareholders.

Historically, they tended to focus on offering mortgages and savings products

Since 1986 many now offer a broad range of retail banking products.

There are over 40 building societies in the UK, many of them with regional customer bases.

The five largest building societies are

  1. Nationwide Building Society (Nationwide)
  2. Yorkshire Building Society
  3. Coventry Building Society
  4. Skipton Building Society
  5. Leeds Building Society

Underlying profit of the British-headquartered Nationwide Building Society in the United Kingdom (UK) from 2011 to 2015 (in million GBP)

The balance sheet of the UK's biggest building society

Distribution of assets of the British-headquartered Nationwide Building Society in 2015 (in £billion)

Assets

Liabilities

The Nationwide has around a 10-11% market share of the UK savings market

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