Swansea Building Society
Encyclopedia
The Swansea Building Society is a building society
based in Swansea
, Wales. It is a member of the Building Societies Association
.
The Society was founded in 1923. Today it is one of only three remaining mutual building societies in Wales and claims to be only building society or bank with its headquarters in West Wales. At 31 December 2009, the Society's total assets were over £182m with over 8,000 savers accounts and 1,100 mortgage customers. The chief executive is Alun Williams.
Swansea Building Society benefited from the Icelandic financial crisis in 2009, as local savers looked to invest in a safer institution. The society opened a new branch outside Swansea city centre
for the first time in its history. In May 2010, the society launched a savings account in partnership with Swansea City Football Club, earning the club additional revenue through commission.
Building society
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
based in Swansea
Swansea
Swansea is a coastal city and county in Wales. Swansea is in the historic county boundaries of Glamorgan. Situated on the sandy South West Wales coast, the county area includes the Gower Peninsula and the Lliw uplands...
, Wales. It is a member of the Building Societies Association
Building Societies Association
The Building Societies Association is the trade organisation of the building societies in the United Kingdom. In 2011 the 48 building societies in the UK had total assets of over £317 billion. 15 million adults have building society saving accounts and over 2.9 million adults are currently buying...
.
The Society was founded in 1923. Today it is one of only three remaining mutual building societies in Wales and claims to be only building society or bank with its headquarters in West Wales. At 31 December 2009, the Society's total assets were over £182m with over 8,000 savers accounts and 1,100 mortgage customers. The chief executive is Alun Williams.
Swansea Building Society benefited from the Icelandic financial crisis in 2009, as local savers looked to invest in a safer institution. The society opened a new branch outside Swansea city centre
Swansea city centre
Swansea city centre in Swansea, Wales, contains the main shopping, leisure and nightlife district in Swansea. The city centre covers much of the Castle ward including the area around Oxford Street, Castle Square, and the Quadrant Shopping Centre; Alexandra Road, High Street, Wind Street and the...
for the first time in its history. In May 2010, the society launched a savings account in partnership with Swansea City Football Club, earning the club additional revenue through commission.