There are 47 UK building societies. Building societies have total assets of almost £330 billion and, together with their subsidiaries, hold residential mortgages of £210 billion, 17% of the total outstanding in the UK. They hold just under £220 billion of retail deposits, accounting for 20% of all such deposits in the UK. Building societies account for about 31% of all cash ISA balances. They employ approximately 39,000 full and part-time staff and operate through approximately 1,700 branches, serving more than 22 million investing members and approximately 2.7 million borrowers.
The Building Societies Association (BSA) represents mutual lenders and deposit takers in the UK including all 47 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residential mortgages of almost £235 billion, 19% of the total outstanding in the UK. They hold more than £250 billion of retail deposits, accounting for 22% of all such deposits in the UK. Mutual deposit takers account for about 34% of cash ISA balances. They employ approximately 50,000 full and part-time staff and operate through approximately 2,000 branches.
(This FAQ was updated 1/11/11. Building society only balances were as at 31/12/10 and exclude Co-op Bank as at 31/12/10. Mutual lender and depoit taker balances are as at 31 March 2011)
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