250th anniversary of the first building society

Motion Text

That this House notes the marking of the 250th anniversary of the first building society in the United Kingdom in 1775; further notes that the mutual sector has survived the de-mutualisation process of the 1990s and emerged as a strong sector for personal savings and mortgages; acknowledges that as banks have been closing high street branches across the nation, many building societies have retained their Branch network; and warmly endorses the concept of doubling the size of the mutual and co-operative sector in the coming years.