Manchester Building Society Returns with New Branch and Major Investment
The Manchester Building Society is back, opening a new branch in the city center with plans for further expansion and community engagement.
Manchester, Building Society, Investment, Community, Branch, Newcastle, UK
Manchester: The Manchester Building Society is making a comeback after years away. They’re opening a new flagship branch in the city center, which is pretty exciting! It’s a big deal because many banks are closing their doors, but this society is all about growth.
Founded back in 1922, the society merged with the Newcastle Building Society in 2023. Now, they’re ready to invest millions to bring the Manchester brand back to life. The new branch will be located on King Street, and they’re planning to open it later this year.
Andrew Haigh, the CEO of the Newcastle Building Society Group, mentioned they want to expand even more in Greater Manchester. They’re eager to hear from locals about where they should set up next. It’s all about connecting with the community.
Since 2015, over 700 bank branches have closed in the North West, but this society is committed to keeping a physical presence. They believe branches are essential for building relationships and providing advice, especially for those who might need a little extra help.
Haigh emphasized that this new branch is just the beginning. They want to create a strong connection with the region and grow the Manchester Building Society brand. The new location will also have meeting rooms for the community and flexible workspaces for staff.
He pointed out that Manchester has been without a branch for a while, and their goal is to give the remaining members a bright future. They’re also looking at ways to make branches work better for everyone, not just for transactions.
Haigh couldn’t share specific plans for more branches yet, but he hinted at the possibility of co-locating with libraries or local charities, which sounds like a great idea. It’s all about being where the community is.
Councillor Bev Craig expressed excitement about the society’s return, highlighting the importance of access to financial services in a thriving city. She believes this new branch will provide essential services to Manchester residents.
Joe Manning from MIDAS also welcomed the news, saying it shows confidence in Manchester as a place to invest. This new branch will create jobs and bring financial services back to local communities.
After a challenging few years, including a legal battle with former auditors, the Manchester Building Society is looking forward to a brighter future as part of a larger, more robust organization.