Natasha Asghar, MS for South Wales East, was welcomed at Principality’s Newport city centre branch this week, as the building society celebrates its 165th anniversary this year.
At the Annual General Meeting in April, the Society announced a commitment to maintain its high street and community presence until at least the end of 2030, recognising the importance of access to cash and in-person services for its Members.
The building society has received consistent feedback from Members that a branch presence is important to them. Principality’s own research reveals more than 70% of people agree that branch presence is a key factor in deciding which financial provider to choose. This comes against a backdrop of branch closure announcements from providers across the country.
First established in 1860 in Cardiff, Principality has the largest branch presence across Wales, partnering with charities and funding affordable home initiatives along with its financial services.
Principality remains committed to local communities by partnering with local charities and organisations such as Newport Yemeni Community Association, Operasonic, County in the Community and Community House Open Road. The team also represent Principality at Newport Pride year-on-year.
Kelly Young, Head of Savings Customer Services at Principality Building Society, said: “Cash remains a vital part of daily life for many - not just as a payment method, but as a pillar of financial stability, especially for small businesses, residents, and rural communities.
Across Wales, our commitment to maintaining a strong branch presence is about more than convenience; it’s about making more possible for the communities we serve. Our Members tell us this really matters, and that’s why we’re continuing to invest in our network, ensuring access to cash and instilling confidence on our high streets - just as we have for the last 165 years.”
Natasha Asghar, Member of the Senedd for South Wales East said: "I was delighted to meet the team at the Newport branch of Principality Building Society and to hear about their continued commitment to maintaining local branches and services across communities in Wales.
“With over 160 years of service, the Principality remains a cornerstone of Welsh town centres and has the strongest High Street presence of any financial services provider in the country.
“We discussed the Society’s innovative work in launching pop-up branches in hospitals, and the exciting potential for one-stop services to help preserve vital banking access across South East Wales.
“It’s clear that a forward-thinking, community-first ethos is at the heart of the organisation, and I have no doubt this will see them continue to thrive in the years ahead."
