|Quoting Baexecutive (Thread starter):|
What is the point of them? I've never seen the relevance, its not like they give fantastic interest rates and anyway I could really care less who owns the company, its customers or shareholders.
Any ideas what will happen to them in the next few years?
They do tend to give better interest rates, even if only marginally, and often a better range of savings accounts too. In my experience it seems that they put more emphasis on customer service than the high street banks; when I walk into a bank these days (and I know that not all banks are the same), I notice a quite obvious lack of attention and interest in dealing with me, as a non-business, non-premier account holder. I've never felt like that in any of the building societies I've ever dealt with.
It's interesting to see that a fair few of the building societies that turned into banks in the great demutualisation drive (in search of a quick windfall buck for their members-turned-shareholdershave started to suffer; Northern Rock, Bradford and Bingley, and Alliance and Leicester come to mind...
Have you ever felt like you could float into the sky / like the laws of physics simply don't apply?