Manchester Building Society is back with a new branch and plans for growth in the city, aiming to serve local communities.
Manchester: The Manchester Building Society is making a comeback after years away. They’re opening a new flagship branch in the city center and plan to expand even as other banks close their doors.
Founded in 1922, the society merged with the Newcastle Building Society in 2023. Now, they’re investing millions to revive the Manchester brand, starting with a new location on King Street.
Andrew Haigh, the CEO of the Newcastle Building Society Group, mentioned they want to open more branches in Greater Manchester and are eager to hear from locals about where they should go next.
Since 2015, over 700 bank and building society branches have shut down in the North West. But this group, owned by its members, is committed to keeping a presence on the high street.
Haigh also said they’ll be hiring staff for the new branch, emphasizing their commitment to growth when many others are pulling back.
The new branch will be in the former Diesel store and is set to open later this year. It will feature meeting rooms for the community and flexible workspaces for staff.
Haigh noted that Manchester hasn’t had a branch for a while, and their first priority after the merger was to secure a future for the remaining 11,000 members. They quickly realized there was a chance to grow the brand again.
He explained that being present in the community is essential for serving their customers and connecting them with better financial futures.
Manchester has a rich history with mutual organizations, and Haigh feels it’s the right place for them to be. He pointed out that many customers still value high street branches, even as others close them to cut costs.
Haigh is exploring ways to make branches work better for the community, rather than just focusing on transactions.
While he didn’t share specifics about future branches, he hinted at the possibility of co-locating with libraries or local charities, which could benefit both the society and the community.
Councillor Bev Craig expressed excitement about the return of the Manchester Building Society, highlighting the importance of access to financial services in a thriving city.
Joe Manning from MIDAS praised the decision to open a branch in King Street, seeing it as a sign of confidence in Manchester and a way to create jobs and economic opportunities.
The Manchester Building Society’s journey has had its ups and downs, but with this merger, there’s a sense of optimism for the future.
