Adding value to the case for building societies

Building societies are mutual organisations.  This means that they have no shareholders and operate solely in the interests of their members. A member is a person who has a savings account or a mortgage loan. Each member has voting rights to influence how the building society is run. The earliest building societies were established during the Industrial Revolution by skilled workers who wanted to save money together to build their own homes. The first known building society was formed in 1775 in Birmingham. Like all…