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) last week, which was live streamed to colleagues and Members at Llanelli’s Elli Shopping Centre branch, 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.
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.
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.”
Principality’s continued commitment to 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.
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.”
First established in 1860, Principality has been a community cornerstone with over 53 branches and 14 agencies across Wales and its borders, partnering with local charities and organisations such as Cwtsh Close Appeal, Carmarthen Youth Project, and Swansea Community Farm in addition to its financial service offerings.
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.”
