A Building Society is a financial institution that primarily focuses on providing savings accounts and mortgage loans to its members. Unlike traditional banks, building societies are owned by their members, who can benefit from lower interest rates on loans and higher interest rates on savings. They aim to promote home ownership and encourage saving among their members. Members of a building society typically have a say in its operations, including voting on key decisions. Building societies are regulated by government authorities to ensure they operate safely and fairly. They play a significant role in the housing market, helping individuals and families achieve their home ownership goals.