Principality Building Society, Wales’ largest building society, celebrates its 165-year birthday by announcing a commitment to maintaining its high street and community presence until at least the end of 2030.
Announced as part of the organisation’s Annual General Meeting (AGM), Principality is extending its commitment to the communities it serves, recognising the importance of a high street presence, access to cash and in-person services for its Members.
First established in 1860 in Cardiff, Principality has been a community cornerstone with over 50 branches and 14 agencies across Wales and its borders, partnering with charities and funding affordable home initiatives along with its financial services.
The Society’s AGM was hosted in Cardiff, and in six branches across Wales. Colleagues, representatives from the Board and members of the community gathered in Caerphilly, Cwmbran, Hereford, Llanelli, Wrexham and Llandudno to participate in the AGM which was live streamed from Cardiff and also available online, with Members voting on issues of importance.
The building society has received consistent feedback from Members that a branch presence is important to them. Principality’s own research reveals more than 70% of people agree that branch presence is a key factor in deciding which financial provider to choose. This comes against a backdrop of branch closure announcements from providers across the UK and wider markets.
Julie-Ann Haines, Chief Executive Officer of Principality Building Society said: “As we celebrate 165 years of putting Members first, I’m pleased to announce our commitment to maintaining a branch presence in the high streets and communities we currently operate in, across Wales and England until at least 2030, giving our Members, colleagues and communities confidence.
“We are proud to have more branches than any other financial services provider in Wales. With news of recent closures from other financial providers, we maintain our local branches and evolve our access to cash services, recognising they are more important than ever.
Our presence on high streets is unrivalled and brings benefits to communities across the country, today’s announcement means Members can be assured that we’ll retain our presence for years to come.”
Principality’s continued investment in local communities is further demonstrated by its recent partnership with shared banking innovator OneBanx to bring cash services to rural areas affected by bank closures. Buckley will be the first area in North Wales to receive access to the OneBanx technology, enabling customers of most major UK banks and building societies to deposit and withdraw cash without the use of a card. The Buckley Library branch presence follows two successful deployments in both Cowbridge and Caerphilly.
The Society is acting as a thought leader in this space, bringing together partners and Welsh Government to discuss solutions and protect access to cash in communities.
Robin Fieth, Chief Executive of the Building Societies Association, said: “At a time when many banks are scaling back their high street locations, Principality and the wider building society sector stand out by continuing to invest in their branch networks. As we celebrate 250 years of building societies in 2025, Principality’s approach serves as a reminder of the vital role they play in local communities.”
