Over half (68%) of building society customers feel their society is an important part of the community according to the latest report from the Building Societies Association (BSA).
BSA’s ‘Reinvigorating Communities’ report also revealed that 90% of building societies have said that they will maintain or increase their branch network over the next 12 months.
Mike Regnier, BSA chairman and chief executive of Yorkshire Building Society, said: “The purpose of this report is to help the sector learn from each other.
“This plays directly into the philosophy of the building society sector: Community and social purpose are the bedrock of building societies and of mutuality.”
Over three quarters (76%) of consumers prefer to do business with organisations that support the communities in which they operate the report found.
Regnier added: “Our ethos of putting our customers first, personal connection and community remain central to what we are.”