Building societies saw record deposits into their savings accounts in 2007, figures show.
The Building Societies Association reports that their members' savings accounts attracted £16.1 billion last year, almost double the 2006 figure.
It beat the previous record set in 1988 when £13.6 billion was placed in to savings accounts.
Adrian Coles, director-general of the association, said: "With competitive interest rates on offer and uncertain times in the equity markets, building societies continue to be an attractive home for people's savings."
He added that the majority of deposits in to building society savings accounts came in the later part of 2007.
Of these funds "a significant proportion" had probably been withdrawn from troubled bank Northern Rock, he said.
Some Northern Rock customers formed long queues in September as they sought to withdraw money from their savings accounts.
The run on the bank occurred after it was announced that it had borrowed money from the Bank of England, leading to fears it could collapse.
Savings accounts hit record levels
Savings accounts hit record levels
Tue, 22 Jan 2008
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