Building societies offer greater levels of service than banks and some of the "best" products available on the market, one expert has claimed.
Neil Johnson, PR and policy manager at the Building Societies Association (BSA), said that the "whole purpose" of a building society is to ensure that its members receive good service and "a competitive product".
Building societies are "towards the top" of the market when considering the mortgages and savings products they offer, Mr Johnson stated, adding that this is often due to the way that such organisations are run.
"Building societies are very good at keeping hold of their customers because they offer very good long-term savings accounts [among other things]," he remarked.
Earlier in the month, the BSA reported that building societies had received approximately £3 billion in savings during October.
The organisation noted that net receipts to cash individual savings accounts totalled £91 million last month, compared with £65 million during the corresponding period last year.
Building societies 'offer some of the best savings products'
Building societies 'offer some of the best savings products'
Tue, 27 Nov 2007
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