Monmouthshire Building Society is to open a new branch in Brecon, as part of an ongoing strategy to increase its High Street presence throughout South Wales.
The independent, Welsh, mutual building society, which has had its headquarters in Newport since 1869, is one of the longest-standing businesses in the region and will be taking over the Leeds Building Society office in the centre of Brecon from 1 January 2021.
The Society, which has had an agency in Brecon since 2011, will retain the Leeds Building Society’s six existing staff, and will have a presence in the branch from 28 September to help with the transition and support any existing Leeds members who are interested in switching their accounts to the Monmouthshire and continuing to use the branch.
Will Carroll, CEO Monmouthshire Building Society, said: “In line with our member-led strategy, we are committed to increasing our High Street footprint, while many of our competitors are decreasing theirs. This is part of a key strategic initiative for us and we are determined not to let the pandemic slow us down, when looking for new locations to support our sustainable growth aspirations.
“Ideally located as the gateway to mid Wales, Brecon has been on our radar for some time. Our agency in the town has been a great success and we’re looking forward to building on that, providing a full service for new and existing members in the town and the surrounding area.”
This will be the tenth branch for Monmouthshire Building Society and demonstrates the organisation’s dedication to maintaining a physical presence in an ever-changing financial services landscape.
Mr Carroll added: “We have an open dialogue with our members and while some are happy to embrace the trend for online banking, many still value the face-to-face interaction that our branches offer. 2020 has shown us the importance of being able to offer our services online, but simultaneously, it has highlighted the benefits of having a conversation in person, something that many people missed out on in lockdown.
“We feel that as long as our members want to see us, we want to make it as easy as possible for them to do so. We value these relationships just as much as they do.”
Formed in Dock Street, Newport in 1869, Monmouthshire Building Society has 69,000 members and 198 colleagues, spread across 10 branches and 14 agencies.
This year, The Society won Best first time buyer mortgage provider and Best service from a mortgage provider at the Moneyfacts Awards 2020.
Monmouthshire Building Society regularly supports local charities and organisations with donations and sponsorship. The Society’s Charitable Foundation has been running for 20 years and in that time has donated over £284,000 to 470 organisations.