Principality Building Society, Wales’ largest building society, has celebrated its 165-year birthday by announcing a commitment to maintaining its high street and community presence until at least the end of 2030.
The news was announced during the organisation’s Annual General Meeting (AGM) last week, which was live-streamed to colleagues and members at Cwmbran’s General Rees Square branch
First established in 1860 in Cardiff, Principality has 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. The AGM was live streamed from Cardiff and also available online, with Members being asked to vote on some issues.
‘70% of people feel a high street branch is important’
A statement from the building society said that their own research found that more than 70% of people felt that branch presence is a key factor in deciding which financial provider to choose.
Vicky Wales, chief customer officer at Principality Building Society, said: “We feel very proud that we’re able to take our AGM into local communities through the live stream and engage with our Members on matters that affect them directly. All our branches have played an integral role in supporting their local communities, and today’s announcement means that our Members can continue to access essential in-person services for years to come as we maintain our presence in the community.”
Kelly Young, head of customer services savings at Principality Building Society, said: “As more financial institutions announce branch closures, we remain focused on supporting our Members and the local community with vital financial services. We know that access to cash and our extensive branch presence enable us to provide the services that our Members rely on.”
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.”