Commenting on Rachel Blake MP's announcement of a Mutuals and Co-operatives Champion, Sarah Harrison, Chief Executive of the Building Societies Association, said:

"Appointing a mutuals and co-operatives champion is a strong and welcome step forward. Mutuals and co-operatives are central to a fairer economy - and building societies and credit unions play a critical role in supporting communities, homeownership and financial resilience. If government is serious about helping more people, we must be a bigger part of the answer, and we’re ready to help make this role count.”

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Notes to Editors:

HM Treasury announcement: https://www.gov.uk/government/news/new-champion-to-be-appointed-for-britains-mutuals-and-co-operatives

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 £680 billion and together with their subsidiaries, hold residential mortgages of almost £495 billion, 29% of the total outstanding in the UK. They also hold £495 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.