Building society branches remain a visible part of high streets across the UK, yet their role is changing. As financial services become increasingly digital, and as commercial pressures reshape the banking landscape, decisions about the future of in-person services are often framed in terms of cost and efficiency. What is less frequently understood is the wider role branches play in people's lives and in the communities they serve.

The Building Societies Association commissioned RealWorth, a social value consultancy, to carry out a study which examines the social value generated by building society branches across the UK.

• The building society branch network creates £7.6 billion of social value

• Within the £7.6 billion:

  • £2.4 billion through improved financial wellbeing by providing financial education, budgeting and money management

  • £2.2 billion through financial loss prevention by offering 'human layer of protection' through early intervention

  • £1.4 billion through emotional wellbeing support such as reducing loneliness, anxiety and street along with financial management in times of ill health

  • £1.6 billion through provision of financial guidance leading to better financial decisions, skills development and increased confidence

• 26% of customers have had help from their branch to avoid or resolve fraud or suspicious activity

• 91% believe their branch is significant to their financial wellbeing

• 96% believe their branch contributes to keeping the high street thriving