Building societies

 

 

 

Building societies

 

Glossary of business

 

Definition of building societies

 

Building societies are financial institutions which offer a range of services but which specialise in providing loans (mortgages) for house purchase. Building Societies have mutual status and the deregulation of the financial sector in the mid 1980s has led to many of them (e.g. Abbey National and Halifax) converting to Public Limited Companies. Mutual status means that the firm is owned by its members. Having an account with a building society therefore makes you a part owner of the firm.

 

Source : http://business-tes.wikispaces.com/file/view/Glossary.doc

link: http://business-tes.wikispaces.com/

Author : not indicated on the source document of the above text

 

Terminology about business

 

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Definition and meaning of building societies

 

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Meaning of building societies

 

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