building society 
noun British
A financial organization which pays interest on investments by its members and lends capital for the purchase or improvement of houses.Child Trust Fund accounts are available from banks, building societies and other financial organisations....
- High-rise flats or tower blocks are considered by many banks and building societies unsuitable for mortgage lending.
- Later, other lenders jumped on board the lucrative credit bandwagon, including building societies and smaller banks.
Building societies originally developed as non-profit-making cooperative societies from friendly societies. Since 1986 changes in legislation have allowed them to offer banking and other facilities, and some have become public limited companies.