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Review of the Family Building Society, Savings:

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Spoilt by unnecessary rebranding

When I first started saving with National Counties BS it was because their savings rates were at the top of the best buy table. I had several fixed rate and tracker rate bonds and was satisfied. The new 'Family' branding has cost money, which has made the society less efficient, so now the interest rates are lower and I have moved my money to another provider. They are still ok, and much better than Nationwide, but they are no longer the best. Savings should be the priority, not the company name and logo. Reviewed on: 6th October 2023

Reply from Family Building Society Thank you for your comments. We launched the Family Building Society as a brand in 2014. The brand was chosen to promote savings and mortgage products for today’s families. National Counties Building Society is still our legal entity and we remain in Epsom with the same infrastructure and staff. Our rates are set on a combination of factors. We have to balance the competing interests of our savers and our borrowers, while responding to market movements. We are aware that savers are even more conscious of the importance of getting the best rate they can at the moment and of course we hope our savers will stay with us, but we understand if you decide to invest elsewhere. Our aim at the Family Building Society is that we continue to offer competitive rates, along with excellent customer service. We remain a member owned and customer focused business. Kind regards Family Building Society Response date: 6th October 2023

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