Principality is a Welsh
building societyA building society is a financial institution, owned by its members, that offers banking and other financial services, especially mortgage lending....
based in
CardiffCardiff is the capital, largest city and most populous county of Wales. The city is Wales' chief commercial centre, the base for many national cultural and sporting institutions, the Welsh national media, and the seat of the National Assembly for Wales. According to recent estimates, the...
, the capital of
WalesWales is a country that is part of the United Kingdom, bordered by England to its east, and the Atlantic Ocean and Irish Sea to its west. It is also an elective region of the European Union...
. With assets of just under £6bn it is the largest building society in Wales and the 9th largest in the
United KingdomThe United Kingdom of Great Britain and Northern Ireland is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of Ireland, and many small islands...
. Principality Building Society is
mutualMutual may refer to:*Mutualism, often confused with symbiosis*Mutualism , largely associated with Pierre-Joseph Proudhon, based on a labor theory of value*Mutual organization, where customers derive a right to profits and votes...
, which means it is owned by its members rather than shareholders. It serves clients through the internet and telephone as well as at high street branches. It is a member of the
Building Societies AssociationThe Building Societies Association is the trade organisation of the building societies in the United Kingdom. In 2008 the 59 building societies in the UK had total assets of over £360 billion. 15 million adults have building society saving accounts and over 2.9 million adults are currently buying...
.
It was founded in 1860 in
CardiffCardiff is the capital, largest city and most populous county of Wales. The city is Wales' chief commercial centre, the base for many national cultural and sporting institutions, the Welsh national media, and the seat of the National Assembly for Wales. According to recent estimates, the...
by William Sanders as a mutual building society.
Discussion
Ask a question about 'Principality Building Society' Start a new discussion about 'Principality Building Society' Answer questions from other users |
Principality is a Welsh
building societyA building society is a financial institution, owned by its members, that offers banking and other financial services, especially mortgage lending....
based in
CardiffCardiff is the capital, largest city and most populous county of Wales. The city is Wales' chief commercial centre, the base for many national cultural and sporting institutions, the Welsh national media, and the seat of the National Assembly for Wales. According to recent estimates, the...
, the capital of
WalesWales is a country that is part of the United Kingdom, bordered by England to its east, and the Atlantic Ocean and Irish Sea to its west. It is also an elective region of the European Union...
. With assets of just under £6bn it is the largest building society in Wales and the 9th largest in the
United KingdomThe United Kingdom of Great Britain and Northern Ireland is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of Ireland, and many small islands...
. Principality Building Society is
mutualMutual may refer to:*Mutualism, often confused with symbiosis*Mutualism , largely associated with Pierre-Joseph Proudhon, based on a labor theory of value*Mutual organization, where customers derive a right to profits and votes...
, which means it is owned by its members rather than shareholders. It serves clients through the internet and telephone as well as at high street branches. It is a member of the
Building Societies AssociationThe Building Societies Association is the trade organisation of the building societies in the United Kingdom. In 2008 the 59 building societies in the UK had total assets of over £360 billion. 15 million adults have building society saving accounts and over 2.9 million adults are currently buying...
.
History
It was founded in 1860 in
CardiffCardiff is the capital, largest city and most populous county of Wales. The city is Wales' chief commercial centre, the base for many national cultural and sporting institutions, the Welsh national media, and the seat of the National Assembly for Wales. According to recent estimates, the...
by William Sanders as a mutual building society. In 1914 the Principality Buildings were built to house the society and remain the headquarters of the society. Principality acquired Peter Alan and Parkhurst estate agents in 1986 and Principality House was built to accommodate the expanding business.
The company acquired Loan Link Limited in 2004. This gave Nemo Personal Finance Ltd, a subsidiary, the opportunity to launch in 2005.
Operations
It has 50 branches across
WalesWales is a country that is part of the United Kingdom, bordered by England to its east, and the Atlantic Ocean and Irish Sea to its west. It is also an elective region of the European Union...
and some over the English border, and employs around 1000 people. In 2005 it expanded into personal loans with the creation of a new company called Nemo Personal Finance Ltd. In the same year as launching Nemo Loans Principality underwent a transformation: it revamped its image. It won the 2005 'Business of the Year' award for Wales and the West Country. The assets of the group increased to £4.4bn in the same year and to £5.9bn in 2007.
Subsidiaries
Principality has 2 wholly owned subsidiaries. Its estate agency subsidiary, Peter Alan, has 25 branches across Wales. It has a lettings division and helps those who are buying or selling property. Also based in Wales, Principality has a secured loans subsidiary, Nemo loans, employing over 120 people.
External links