Move made as others close their doors
Principality Building Society has marked its 165th anniversary by renewing its pledge to support communities and maintain its high street presence across Wales and England until at least the end of 2030.
The building society made the announcement during its annual general meeting (AGM), which took place in Cardiff and was live-streamed to six branches across the country, including Caerphilly, Cwmbran, Hereford, Llanelli, Wrexham and Llandudno. Members, colleagues and Board representatives participated both in person and online.
Founded in Cardiff in 1860, Principality has become a familiar fixture across Wales, with 53 branches and 14 agencies situated across Wales and along the border.
As digital banking rises, major UK banks like Lloyds, Santander, and NatWest continue significant branch closures in 2025, citing reduced in-person transactions and cost savings. Hundreds more closures are planned, impacting communities, especially rural areas and vulnerable individuals. Banking hubs and Post Office services are being rolled out as alternatives.
“As we celebrate 165 years of putting members first, I’m pleased to announce our commitment to maintaining a branch presence in the high streets and communities we currently operate in, across Wales and England until at least 2030, giving our members, colleagues and communities confidence,” Julie-Ann Haines (pictured), CEO of Principality Building Society, stated.
“We are proud to have more branches than any other financial services provider in Wales. With news of recent closures from other financial providers, we maintain our local branches and evolve our access to cash services, recognising they are more important than ever.”
The society’s decision follows feedback gathered from its Member Pulse Survey, which revealed that more than 70% of respondents consider a local branch to be a key factor when choosing a financial provider.
Principality’s approach includes innovation in access to cash, with the introduction of shared banking services through its partnership with fintech provider OneBanx. Following successful deployments in Cowbridge and Caerphilly, the technology is now being rolled out in Buckley, North Wales, where customers from most major UK banks and building societies can withdraw and deposit cash at the local library without using a card.
The society has also taken on a convening role, working alongside the Welsh Government and other stakeholders to find long-term solutions to protect access to cash and support communities experiencing service withdrawals.
“At a time when many banks are scaling back their high street locations, Principality and the wider building society sector stand out by continuing to invest in their branch networks,” said Robin Fieth, chief executive of the Building Societies Association. “As we celebrate 250 years of building societies in 2025, Principality’s approach serves as a reminder of the vital role they play in local communities.”
Principality remains the sixth-largest building society in the UK, with assets totalling £12.5 billion.
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