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What are Building Societies?
Building Societies index
Building Societies are similar to banks in that they can provide a wide range of financial services, including personal banking, loans and so on, however government legislation states that 75% of a building society’s total business must be devoted to residential mortgage loans and related products, such as home equity loans.
Building Societies are also mutual institutions rather than commercial enterprises, which means that most of the people who have a savings account or a mortgage with the building society are members of the society and therefore have certain tights to vote and receive information about the society and its financial dealings.
Each building society also has a board of directors who run the society and are responsible for setting the society’s strategy. As building societies do not have external shareholders, they usually have lower operating costs and can offer better rates on mortgages and better interest rates than banks.
Comments & Discussion
HinduIDF @Sat, 04 Sep 2010 20:39:49
@farhanmasood no problem..We in India also want Pakistan to be peaceful and work towards building a Good Society ..
KingSethos @Sat, 04 Sep 2010 20:29:24
RT@Eye_Of_Kemet If this society was about building minds instead of material wealth, we would then have real progress and civilization«#Fact
muahcokee @Sat, 04 Sep 2010 20:23:47
RT @Eye_Of_Kemet: If this society was about building minds instead of material wealth, we would then have real progress and civilization.
PhilofProverbs @Sat, 04 Sep 2010 20:20:51
!! RT @Eye_Of_Kemet: If this society was about building minds instead of material wealth, we would then have real progress and civilization.
mack_mall91 @Sat, 04 Sep 2010 16:57:42
alot of buildings in the 804 that I remembered are gone but change is a good thing in society...as long as they ain't building no titty bars
iJumpback @Sat, 04 Sep 2010 13:45:18
@JayZLyrics its true how society don't want me to move to the penthouse building wit spectacular views