Monmouthshire Building Society

Monmouthshire Building Society, (Welsh: Cymdeithas Adeiladu'r Sir Fynwy), is a building society based in Newport, Wales. The Society provides typical building society services including a range of mortgage and savings products, insurance, financial planning, legal services and funeral plans some of which are provided via third-party companies.

Monmouthshire Building Society
Cymdeithas Adeiladu'r Sir Fynwy
TypeBuilding Society (Mutual)
IndustryBanking
Financial services
Founded23 January 1869
HeadquartersNewport, Wales, UK
Number of locations
29
Key people
Will Carroll, Chief Executive Officer
ProductsSavings, Mortgages
£6.4 million GBP (April 2016)
Total assets£1,047.9 million GBP (April 2016)
Members70,860 (November 2016) [1]
Number of employees
145
Websitewww.monbs.com

The Society is a founding member of the Building Societies Association and Council of Mortgage Lenders, as well as being a member of the Financial Services Compensation Scheme.

Monmouthshire Building Society is a mutual organisation and operates through a network of branch and agency offices, covering the M4 corridor from Chepstow in the east to Swansea in the west.

The building society also operates the Monmouthshire Building Society Charitable Foundation which supports charities and other social initiatives.[2]

The society had a subsidiary company, Monmouthshire Insurance Services, a commercial insurance broker. The business was sold to Thomas Carroll Group Ltd. on 1 April 2016.[3]

The Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Authority. Financial Services Register Number 206052.[4]

History

The society was formed in January 1869 as the Monmouthshire and South Wales Permanent Investment Benefit Building Society. Five of the original board of directors went on to be mayors of Newport.

In 1890 the operations were moved to new offices in Friars Chambers, Dock Street, where the Head Office stands today, although the development of John Frost Square means the offices have been rebuilt. The Society's name has been shortened over the years; the most recent name change coincided with the Society's centenary in 1969.

References
  1. Company Profile: Monmouthshire Building Society
  2. "Community". www.monbs.com. Retrieved 30 June 2015.
  3. "Sale of Monmouthshire Insurance Services Ltd to Thomas Carroll Group Ltd". mis.co.uk. 1 April 2016. Retrieved 2 April 2016.
  4. "About Us | Monmouthshire Building Society | Monmouthshire Building Society". www.monbs.com. Retrieved 6 October 2019.


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