5 days Ago
Principality Building Society has pledged to maintain its high street presence until at least 2030. The announcement was made at the organisation's Annual General Meeting (AGM) last week, as the society celebrated its 165th birthday. The AGM, which was live-streamed to members and staff at the Cwmbran branch, saw Principality extend its commitment to the communities it serves, recognising the importance of a high street presence, access to cash, and in-person services.
Established in Cardiff in 1860, Principality has grown to more than 50 branches and 14 agencies across Wales and the borders. The society partners with charities and funds affordable home initiatives alongside its financial services. The AGM was hosted in Cardiff and in six branches across Wales, with colleagues, board representatives, and community members gathering in Caerphilly, Cwmbran, Hereford, Llanelli, Wrexham, and Llandudno to participate.
The building society has received consistent feedback from members that a branch presence is important to them. Principality's research reveals more than 70 per cent of people agree 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." Principality's 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, after Caerphilly and Cowbridge has already received the technology.
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.".
