We are conducting various pieces of research to support the campaign to raise awareness of building societies and credit unions, and of the difference they bring compared to other providers.

Building society and credit union awareness

Slides (November 2024 survey)

• Building society is a much better understood term than mutual. We should stop referring to the sector as mutuals with consumers.
• Those who think customer-owned financial service providers are important are also more active in their community and have more close friends.
• A lot of the positive differentiation of building societies, including trustworthiness, comes from older age groups. Younger age groups see less difference.

We will track some of these measures to see how familiarity with the sector is changing over time with different groups.