BSA welcomes opportunity to turn Government’s ambition into practical action The Building Societies Association (BSA) warmly welcomes the appointment of Andrew Pakes MP as the Government’s new Co-operatives and Mutuals Champion. This is an exciting opportunity for Government, the Champion and the sector to work together to unlock the full potential of building societies, credit unions and other member-owned businesses. Customer and employee-owned businesses make a distinct and positive difference. They exist to serve their members, rather than external shareholders. That purpose allows them to focus on long-term value for their members and the communities they serve. The Government’s ambition to double the size of the mutual and co-operative sector is a bold and welcome goal. Different ownership models strengthen our economy and ensure the benefits of business success are shared more widely. The appointment creates fresh momentum. By working together, the new Champion, the Government and the sector can turn this ambition into practical action and bring the benefits of customer ownership to millions more people every day. The scale of the opportunity is clear. The UK’s mutual and co-operative economy already generates £179.2 billion a year and contributes more than 1.5% of UK GDP, despite representing just 0.2% of businesses. This makes the sector an important part of the answer to the UK’s long-standing economic challenges, including weak productivity, regional inequality and financial insecurity. Yet its potential remains constrained by outdated legislation, inconsistent regulation and a policy environment designed primarily around conventional shareholder-owned businesses.  The BSA is calling on the new Champion to help create the conditions for customer-owned businesses to thrive by focusing on three priorities: Unlocking growth through better access to capital, so customer-owned organisations can reach and support more people Putting mutuals at the heart of policymaking, so their distinctive contribution is considered from the outset across Government Creating a genuinely level playing field, enabling customer-owned firms to compete, innovate and grow alongside shareholder-owned businesses Simon Taylor, Chair of the Building Societies Association and Chief Executive of Melton Building Society, said: “This appointment marks a moment of real opportunity for customer ownership in the UK. Building societies, credit unions and other member-owned businesses put the people they serve at the heart of their decisions. This brings valuable diversity to our economy. “The sector is already making a major economic contribution, helping people to save, buy homes and access trusted services. But there is so much more it can do. With better access to capital and a fairer policy environment, building societies and credit unions can grow and reach many more people. “We are excited to work with Andrew and colleagues across Government in a powerful partnership to turn the ambition to double the sector, into practical action. Together we can remove barriers and open new routes to growth and make customer ownership a much bigger part of the UK economy.” Sarah Harrison, Chief Executive of the Building Societies Association, said “Customer-owned businesses are ready to grow. The new Champion can ensure our voice is heard across Government and help create the conditions needed to unlock even more value for members and communities.” [ENDS] Notes to Editors: Government commitment to double the size of the co-operative and mutual sector. The Government first announced plans for the Co-operatives and Mutuals Champion on 12 June 2026 as part of its commitment to double the size of the co-operative and mutual sector. The appointment of Andrew Pakes MP as the first Champion has now been confirmed Co-operatives and Mutuals Champion - GOV.UK About the Building Societies Association The Building Societies Association (BSA) represents all 42 UK building societies, including both mutual-owned banks, as well as 8 of the largest credit unions. Building societies and mutual-owned banks have total assets of almost £670 billion and together with their subsidiaries, hold residential mortgages of £499.1 billion, 29% of the total outstanding in the UK. They also hold £502.2 billion of retail deposits, accounting for 23% of all such deposits in the UK. Building societies and mutual-owned banks account for 46% of all cash ISA balances.   With all their headquarters outside London, building societies employ around 52,300 full and part-time staff.  In addition to digital services, they operate through approximately 1,300 branches, holding a 35% share of branches across the UK.  Building societies supporting first-time buyers In the six months to March 2026, more than half of building societies lending to homebuyers was to those buying their first home, with almost one in five of these loans to first-time buyers with deposits of 5% or lower. Building societies supporting savers Last year building societies paid £2.1 billion more savings interest to their savers than if they had paid the average rates offered by the largest banks. Press contacts: Tanya Jackson, tanya.jackson@bsa.org.uk  Tel: 07881 501098 Debbie Enever, debbie.enever@bsa.org.uk Tel: 020 7520 5926  

Commenting on the Chancellor’s decision to retain the current Cash ISA limit, Sarah Harrison, Chief Executive of the Building Societies Association, said “We are delighted that the Chancellor has listened. The decision to keep the Cash ISA limit at £20,000 for all savers is great news and provides welcome certainty. “Cash ISAs are simple and trusted by millions of people. They help savers build financial resilience, save for a home and manage their money in retirement. They also provide vital funding for mortgages and business lending, and retaining the current allowance will make the new First-time Buyer ISA simpler to introduce. “We support helping more people to invest, but this should be achieved by raising awareness of the benefits and raising confidence, rather than restricting saving. Today’s decision is welcome news for savers, homebuyers and the wider economy. “We also welcome the move to remove the withdrawal penalty for people who purchase houses above the threshold with a HTB ISA.” [ENDS] Notes to Editors: The Building Societies Association (BSA) represents all 42 UK building societies, including both mutual-owned banks, as well as 8 of the largest credit unions. Since February 2025, it has been campaigning to maintain the £20,000 Cash ISA limit. Building societies and mutual-owned banks have total assets of almost £670 billion and together with their subsidiaries, hold residential mortgages of £499.1 billion, 29% of the total outstanding in the UK. They also hold £502.2 billion of retail deposits, accounting for 23% of all such deposits in the UK. Building societies and mutual-owned banks account for 46% of all Cash ISA balances.   With all their headquarters outside London, building societies employ around 52,300 full and part-time staff.  In addition to digital services, they operate through approximately 1,300 branches, holding a 35% share of branches across the UK.  Building societies supporting first-time buyers In the six months to March 2026, more than half of building societies lending to homebuyers was to those buying their first home, with almost one in five of these loans to first-time buyers with deposits of 5% or lower. Building societies supporting savers Last year building societies paid £2.1 billion more savings interest to their savers than if they had paid the average rates offered by the largest banks. Press contacts: Tanya Jackson, tanya.jackson@bsa.org.uk  Tel: 07881 501098 Debbie Enever, debbie.enever@bsa.org.uk Tel: 020 7520 5926

The BSA's 2026 Budget Submission calls for the Chancellor to pause the proposed cut to the Cash ISA subscription limit and associated changes to Stocks & Shares ISAs. 

A free webinar hosted by BSA Associate, Digilytics 2026 saw AI move closer to the heart of UK lending, fuelled by advances in agentic AI, the growing adoption of intelligent automation, and evolving regulatory expectations. But how much progress have lenders truly made, and what barriers continue to stand in the way? Join us as we unpack the breakthroughs, industry developments, and lessons that shaped 2026, exploring how AI is transforming lending operations, reshaping customer and intermediary experiences, and challenging traditional ways of working. Discover where AI is delivering tangible value, what continues to hold lenders back, and what separates meaningful innovation from experimentation. Key Takeaways: Breakthroughs that mattered for lenders: Explore the GenAI and agentic AI developments that shaped 2026 and their emerging impact across the origination lifecycle. The reality behind enterprise adoption: Uncover the challenges lenders faced, from fragmented data and legacy systems to regulatory expectations, governance, and trust. From hype to measurable impact: Examine where AI is accelerating decisions, unlocking operational capacity, and enhancing borrower and intermediary experiences. Who Should Attend? Senior leaders across building societies, particularly in credit risk, origination, lending operations, digital transformation, technology, AI strategy, customer experience, and intermediary relationships.  Speakers: Arindom Basu, CEO, Digilytics

A free webinar hosted by BSA Associate, Johnston Carmichael Chartered Accountants Board Directors continue to face intense scrutiny, both as individuals and as a collective.  The demands of the role are growing.  Strategic headwinds for the organisation are delivering challenges in the Boardroom, be they commercial, regulatory, technology, or operational.  And for mutual organisations, there’s a heightened obligation to champion a guiding member-focused culture.   How can Boards ensure that effective corporate governance is a driver of success and sustainability? How should a Board protect the heritage and values of an organisation, whilst also championing change and evolution?   How do Boards connect with and influence key stakeholders including customers, colleagues, and their Executive team? In this session, Simon Cavell, Director and Head of Consulting at Johnston Carmichael, discusses the opportunities and pitfalls faced by many Boards, what good looks like, and how an effective Board should be a strategic advantage.  Then, Serena Joseph, Board Chair, SID, Chair of Risk, Serena Joseph Consulting, draws upon her experience as both a Chair and Non-Executive Director, as well as her broad background in financial services, to illustrate how skills, capabilities, and behaviours can interact in the Boardroom.

Collectively, the industry can report that 87 per cent of cash ISA transfers were completed within this timeframe between 1 January 2026 and 30 September 2026.