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Building society savers £775 million better off in 2017

Newsbite,
Contact:
andrew gall,
Last updated:
28 March 2018

People saving with building societies earned £775 million in additional interest on their savings last year than if they had earned the average interest rates paid by large Monetary Financial Institutions, a group mainly comprising the big banks. The BSA collated interest ...

What do we mean when we talk about corporate diversity?

Newsbite,
Contact:
andrew gall,
Last updated:
27 September 2018

In September the BSA held its second research symposium, kindly hosted by Cass Business School, London. A major theme of the day was diversity in financial services, but of corporations rather than people. We heard from researchers developing analyses on how diversity can b...

Strong results enable building societies to grow mortgage share

Contact:
andrew gall,
Last updated:
29 April 2016

Over recent weeks and months building societies have been publishing their financial results for 2015. The overall picture is one of strength, with robust profitability helping societies to bolster their capital positions, enabling them to continue to grow their share of mort...

Is banks' recent customer focus beginning to slip?

Contact:
andrew gall,
Last updated:
16 December 2015

In April, after the UK’s largest banks had published their financial results for last year, the professional services firm KPMG summarised the results. KPMG’s head of banking audit, Pamela McIntyre, commented on the tension between profitability and the proclaimed focus on cu...

Motivating members

Contact:
andrew gall,
Last updated:
31 July 2015

In May this year the BSA published a report into member engagement at building societies. This blog adds to this by summarising research from behavioural sciences into what might motivate members to participate in the running of the building society that they own.  This ...

What lies ahead for UK business?

Contact:
andrew gall,
Last updated:
08 May 2017

The role of business in an uncertain world A number of speakers at the Building Societies Annual Conference had referred to building societies having an important social role that went beyond merely providing services to consumers. Carolyn Fairbairn, the Director-General ...

The times they are a changing Former university bandmates ex-MPC member Andrew Sentance and current BSA Chairman Dick Jenkins reunited on stage for the opening session of the BSA Annual Conference in London. They resisted breaking into song, and instead Dick invited And...

Building society savers £775 million better off in 2017

Contact:
andrew gall,
Last updated:
09 April 2018

People saving with building societies earned  £775 million  in additional interest on their savings last year than if they had earned the average interest rates paid by large Monetary Financial Institutions, a group mainly comprising the big banks. The BSA collated interest ...

Help with the deposit challenge

Contact:
andrew gall,
Last updated:
05 November 2018

Raising a deposit for a mortgage is seen as the primary barrier to people buying their first home. The challenge of raising a deposit for a first mortgage is shown in the chart below, which shows the size of deposits relative to income for building society lending. Before ...

A new research paper from the Bank of England finds that building societies charged lower mortgage rates than banks and specialist lenders, indicating ownership type can have an important effect on outcomes in the mortgage market. ' Does lender type matter for the pricing o...

People saving with building societies earned  £920 million  in additional interest on their savings in 2018 than if they had earned the average interest rates paid by large Monetary Financial Institutions, a group mainly comprising the big banks. This means that since 2016 b...

Working with financial education experts Young Money , the BSA is providing packages to its members to help them support financial education amongst young people. According to Money Advice Service research last year, 85% of young adults wish that they had been taught more ...

Savers £450 million better off with building societies in first half of 2019

Contact:
andrew gall,
Last updated:
22 November 2019

People saving with building societies earned over £450 million more in interest than if they’d received the average interest rate paid by the major banks across the first half of 2019. Cumulatively since the start of 2016, building society savers have received £2.7 billio...

Reinvigorating Communities

Industry publication,
Contact:
andrew gall,
Last updated:
24 May 2019

Building societies' social purpose in action This report demonstrates why building societies and credit unions put such an onus on their role in their communities. This includes providing valued services and skilled employment, working with and supporting local instituti...

Report: Beyond Age and Income

Industry publication,
Contact:
andrew gall,
Last updated:
23 September 2019

A report written by Toynbee Hall with support from the Building Societies Association This research challenges the common assumption that people naturally save more as they get older and earn more. Building on Toynbee Hall's qualitative study (Packman 2017), previously...