Building societies play vital role in tackling record levels of scams
New research shows building society branches are playing a vital role in protecting customers from scams.
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Katie Wise
1 in 4 customers say staff have helped them avoid or resolve a scam
Building society branches are playing a vital role in protecting customers from scams. 26% of customers report that branch staff have helped them avoid or resolve a scam, according to new research commissioned by the Building Societies Association (BSA).
Fraud and scams are now at record levels in the UK[1], with millions of cases reported each year and losses running into billions of pounds. Scam activity continues to grow in scale and sophistication, driven by increasingly convincing online impersonation, messaging-based fraud and digital deception techniques.
The findings show that in-person banking services provide an important safeguard against scams and fraud. One-third (33%) of customers report receiving fraud prevention guidance during branch visits, while two-thirds (68%) say their branch helps them feel their money is safe.
While older people remain more vulnerable to fraud, scam prevention extends beyond any single group, with support available through online, telephone and face-to-face services. Younger users are also benefiting, with around one-third of younger branch users reporting scam prevention support in branch.
The findings show that branch teams provide an additional layer of protection through everyday conversations and trusted relationships. In some cases, staff can step in before financial harm occurs by delaying payments, raising concerns and working with families, police or support services where appropriate.
This “human layer” of protection can help identify risks that may not always be visible through digital systems alone, particularly when customers are faced with sophisticated scams designed to appear genuine.
Importance of building societies on the high street
Building society branches also play an important role in supporting local high streets. Alongside providing access to banking services and scam prevention, branches help sustain footfall and activity in town centres, with many customers combining branch visits with other shopping or services.
These remaining face-to-face services play a wider role in supporting communities and local economies. The research finds that 44% of customers[2] say visiting their building society is their main reason for going to the high street, while 31% say they would not visit otherwise. Regular visitors[3] also spend an average of £75 per visit locally, supporting wider high street activity.
Key findings from the research:
- Branches play a key role in scam prevention: 26% of customers report that branch staff helped them avoid or resolve a scam.
- Branches provide fraud prevention guidance: 33% of customers received fraud prevention guidance during branch visits.
- Younger customers benefit from scam support: One-third (33%) of younger customers report receiving scam prevention guidance from branch staff.
- Branches provide financial confidence: 91% say their branch is important to their financial wellbeing, 75% say it makes managing money easier and 93% feel welcome and respected.
- Branches support local communities: 44% say2 their branch visit is the main reason they go to the high street, 31% would not visit otherwise, and regular visitors3 spend an average of £75 locally during each trip.
- Branches contribute to thriving high streets: 96% say they help keep high streets thriving.
“Fraud and scams are becoming increasingly sophisticated, and customers are seeing more attempts to trick them into moving money.
“Building societies use a range of channels to help protect customers, including digital tools, telephone support and face-to-face conversations in branches. Each plays an important role in identifying risk, preventing fraud and supporting customers who may need extra help.
“For customers who are less confident online, digitally excluded, or simply looking for extra reassurance, access to support across different channels, including face-to-face remains an important part of keeping money safe.”
Commenting on the report, Rachel Blake MP, Economic Secretary to the Treasury said:
"I welcome this report and its findings and recognise the contribution that building societies have made to financial inclusion, stronger communities, and a more resilient economy, for the future.”
ENDS
[1] Cifas, the UK’s largest fraud prevention service reports:
- 444,000 fraud cases recorded in 2025 in the UK National Fraud Database — the highest ever recorded and up 6% on the year before.
- Roughly 1,200+ cases per day being logged by major UK fraud prevention systems.
[2] Customers that visit their branch at least every three months
[3] Visitors of both building society and bank branches
Press contacts:
press.office@bsa.org.uk
Notes to editors
About the research
These findings are from a new report ‘The social value of building society branch network’, commissioned by the Building Societies Association and carried out by social value consultancy, RealWorth.
The finding show building society branches generate £7.6 billion in social value annually, and save the UK economy £1.9 billion.
Breakdown of the £7.6 billion social value
Social Value is the net impact on people’s lives (now and in the future) that is enabled by an organisation or activity. It considers the broader outcomes to people and society, beyond financial returns. This can be summed up as the changes in people's lives caused by an activity, project or intervention.
Source data
Opinium survey of 4,000 UK adults between 8th - 12th May 2026. Results weighted to be nationally representative of UK adults based on age, gender and region. Customers regularly visiting their branch (unweighted number 1,404) defined as those visiting their branch at least once a month or more. Opinium Research is a member of the British Polling Council and abides by its rules.
About the Building Societies Association
The Building Societies Association (BSA) represents all 42 UK building societies, including both mutual-owned banks, as well as 7 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 £500 billion, 29% of the total outstanding in the UK. They also hold over £500 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 of 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.
Press contacts:
press.office@bsa.org.uk
Notes to editors
About the research
These findings are from a new report ‘The social value of building society branch network’, commissioned by the Building Societies Association and carried out by social value consultancy, RealWorth.
The finding show building society branches generate £7.6 billion in social value annually, and save the UK economy £1.9 billion.
Breakdown of the £7.6 billion social value
- £2.4 billion - through improved financial wellbeing by providing financial education, budgeting and money management
- £2.2 billion - 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 stress 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
- Financial, volunteering and other support such as providing meeting spaces for local causes and charities
- Maintaining access to in-person financial services locally
- Sustaining communities through footfall
- Retaining a trusted community presence when other services are withdrawn
Social Value is the net impact on people’s lives (now and in the future) that is enabled by an organisation or activity. It considers the broader outcomes to people and society, beyond financial returns. This can be summed up as the changes in people's lives caused by an activity, project or intervention.
Source data
Opinium survey of 4,000 UK adults between 8th - 12th May 2026. Results weighted to be nationally representative of UK adults based on age, gender and region. Customers regularly visiting their branch (unweighted number 1,404) defined as those visiting their branch at least once a month or more. Opinium Research is a member of the British Polling Council and abides by its rules.
About the Building Societies Association
The Building Societies Association (BSA) represents all 42 UK building societies, including both mutual-owned banks, as well as 7 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 £500 billion, 29% of the total outstanding in the UK. They also hold over £500 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 of 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.