Building Societies Report 2025

Mutual Vision are delighted be one of the headline sponsors of the Building Societies Association’s 2025 Building Societies Report which is being created in association with Whitecap Consulting.

The report will be published in the same year as the 250th anniversary of the UK’s first building society and falls within the United Nations ‘Year of the Cooperative’. It also comes hot on the heels of the Government’s stated aim to double the size of the mutual sector, as announced by the Chancellor Rachel Reeves in her recent Mansion House address.

The new report will provide insights into the future direction of the sector, taking into account key developments since the last report, discussing current trends, and looking ahead at how the landscape could change by 2030 and beyond. Key areas of focus will include strategy and mutuality, mortgages, savings, the branch of the future, the home buying process / property market, green finance, diversification opportunities, technology, FinTech & data developments, regulation & policy, risk, and collaboration.

Whitecap led a similar project in 2021, which culminated in the publication of a high profile and widely acclaimed industry report. The strategy consultancy will lead and deliver a collaborative project including a program of research, analysis, and interviews with CEOs of a range of building societies and key industry stakeholders. A project steering group has been formed and will meet monthly, made up of the Whitecap project team, the BSA, and representatives from sponsor and partner organizations.

Tim Bowen, CEO at Mutual Vision, said:

“Everyone at Mutual Vision is excited to be part of the Building Societies Report 2025. This has the potential to be a defining year for mutuals and an opportunity to build a future that is as rich as their past. If building societies, co-operatives and credit unions can compete with the banks and neobanks on tech and customer experience, they will always win the other half of the battle — competing on purpose.”

Robin Fieth, Chief Executive of the Building Societies Association, said:

“The New Year marks an important milestone for the building society sector as it celebrates 250 years since the first building society was founded in 1775. With the Government’s recent commitment to double the mutual and co-operative sector, now is a good opportunity to reflect on the future and we look forward to working with Whitecap on their sector analysis.” 

Julian Wells, Director at Whitecap Consulting, said:

“We are excited to be working with the BSA and on this project at such a fascinating time for the mutual sector. Since our 2021 report, building societies have navigated challenges including high interest rates, the cost of living crisis, and the continued evolution of technology. More recently, we have also seen M&A activity involving some of the largest building societies. The report will reflect on these developments and look at the potential future evolution of the sector.”