Building Societies UK
Building societies evolved in the 18th Century as a way for people to buy a house by pooling savings and mortgages. Many of the early building societies were temporary i.e.
The Building Societies Association (BSA) is the trade association representing the interests of member societies.
The Building Societies Commission is a body established under Section 1 of the Building Societies Act 1986 to regulate the activities of building societies.
BUILDING SOCIETIES COMMISSION - Regulatory organisation for Building Societies. Reporting to Treasury M...
BUILDING SOCIETY - Mutual organisation specialising in lending money to individuals to purchase or remo...
Building Societies Investor Protection Scheme
A scheme set up to give limited protection to people with share and/or deposit accounts in authorised building societies that fail. Building...(Read more)
Building Society ...
Building societies do have a good track record of providing good interest rates and low fees to customers.
Building societies set for further takeovers
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Related Terms ...
This includes banks and building societies, insurance companies, credit unions, brokers and stockbrokers.
IFSRA (8th Edition)
Fiscal Policy ...
The world has 30,000 co-operative credit societies, not counting building societies; and though they are organized in many groups, especially in their native Germany, for local reasons, or because of some modification, ...
Savings and loan associations (S&Ls) originated with 18th-century British building societies, in which workmen banded together to finance the building of their homes. The first U.S. savings and loan was established in Philadelphia in 1831.
In UK building societies are similar organizations. Mutual Savings Banks as S&Ls accepts small deposits and typically offer residential mortgage. They are stockholder owned or owned by depositors.
Remutualizing Britain's ex-building societies might benefit its banks
By Ian Fraser, February 1, 2011
US and international accounting standard setters rekindle their vows
By Anthony Harrington, June 22, 2010 ...
This was the voluntary code of standards for good banking practice followed by banks and building societies for consumers in the UK.
Definition: Deposits in bank and building societies which earn interest but which are subject to a period of notice before withdrawal.
Related glossary term:
Sight deposit ...
An arrangement whereby banks and building societies sell life, pension and investment products to their customers on behalf of other financial providers.
Basis point ...
Within financial services, there are different Ombudsmen for banking, building societies, insurance, pensions, and ...
Acquisition of assets
A merger or consolidation in which an acquirer purchases the selling firm's assets.
A personal loan is an amount of money offered, normally by lending institutions such as banks and building societies, on the condition that it will be paid back at some later date.
Financial intermediaries - The general name for financial institutions (banks, building societies etc.) which act as a means of channelling funds from depositors to borrowers.
Mutual company
A company that has no shares, but is owned by policyholders or members. Examples include building societies, friendly societies or co-operatives.
Mutual fund
The US equivalent of a unit trust.
A company that has no shares but is owned by policyholders or members for example building societies, friendly societies or co-operatives.
mutual fund
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Financial Services - The trem used to cover banking, insurance, building societies and related services.
A generic term describing any financial institution not covered by Reserve Bank supervision, but more commonly referring to institutions such as Building Societies, Credit Unions and Friendly Societies, ...
Finance company - provides loans to customers, usually at higher interest rates than banks, building societies and credit unions.
A type of non-bank financial institution, established principally for the purposes of providing bank-type savings vehicles and home finance to individual borrowers. Building societies are regulated by the Australian Financial Institutions Commission ...
A stakeholder pension is a type of low charge pension that has to comply with certain Government standards. Stakeholder pensions are available from commercial companies such as banks, insurance companies and building societies.
Statutory demand ...
In 2007, New Zealand's government decided to expand the role of the Reserve Bank by increasing its regulatory oversight to include not only banks but also building societies, credit unions, insurance and finance companies.
 See also: Banks, Saving, Organisation, Acquisitions, Mergers
  
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