Yes, they’re similar, but from what I’ve heard, most UK building societies are basically the same as or worse than banks in terms of fees, rates, and service quality. In the US, most credit unions will absolutely spank the big banks on at least two of those, if not all three.
The majority of UK building societies turned themselves into banks; maybe twenty years ago when the legislation was passed to enable it. A select few still exist though, but I don’t believe any are that large.
Yes, they’re similar, but from what I’ve heard, most UK building societies are basically the same as or worse than banks in terms of fees, rates, and service quality. In the US, most credit unions will absolutely spank the big banks on at least two of those, if not all three.
There’s only really one big building society in the UK, which is Nationwide, but they’re awesome
The majority of UK building societies turned themselves into banks; maybe twenty years ago when the legislation was passed to enable it. A select few still exist though, but I don’t believe any are that large.