Safest building societies in the UK
There are 42 building societies in the UK. 6 of them hold a public credit rating from S&P, Moody's or Fitch, ranked below; the other 36 do not, and are listed by size. Every one is authorised by the PRA, and savings with each are protected by the FSCS up to £120,000 per person, exactly as at a bank.
Which is the safest building society?
By current credit rating, the highest-rated UK building society is Nationwide Building Society (A+), followed by Coventry Building Society, Skipton Building Society and Yorkshire Building Society (A). That is the agencies' view of each society's ability to pay what it owes. Up to £120,000 per person, every UK building society is equally protected by the FSCS, whatever its rating or size.
Building societies ranked by credit rating
| # | Building society | Blended rating | Rated by | Brands sharing its FSCS limit |
|---|---|---|---|---|
| 1 | Nationwide Building Society | S&P, Moody's, Fitch | Virgin Money, Clydesdale Bank, Yorkshire Bank, Derbyshire Building Society, Cheshire Building Society, Dunfermline Building Society | |
| 2 | Skipton Building Society | Moody's, Fitch | — | |
| 3 | Yorkshire Building Society | Moody's, Fitch | Chelsea Building Society, Norwich & Peterborough | |
| 4 | Coventry Building Society | Moody's, Fitch | — | |
| 5 | Leeds Building Society | Moody's, Fitch | — | |
| 6 | Principality Building Society | Moody's, Fitch | — |
Blended from each agency's current long-term rating (how the scale works); each society's page has the per-agency grades with their dates and sources.
The 36 building societies with no credit rating
Agency ratings are commissioned mainly by institutions that raise money in the bond markets, and most building societies are funded by their members' savings instead. We searched each society's latest annual report for a rating of its own and found none. Three were rated in the past: Moody's withdrew Nottingham's rating in 2022 and West Bromwich's in 2024, and Newcastle no longer reports one. Without a rating, size is one rough guide to resilience, but not a safety measure.
| Building society and total assets | What we found |
|---|---|
| Newcastle Building Society £7.0bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| West Bromwich Building Society £6.6bn (Mar 2026) |
Moody's withdrew its Ba3 deposit ratings in 2024; its annual report to 31 March 2026 shows no rating of its own. (source) |
| Nottingham Building Society £5.4bn (Dec 2025) |
Moody's withdrew its Baa3 deposit ratings on 1 February 2022, citing its own business reasons; its 2025 annual report shows no rating of its own. (source) |
| Cumberland Building Society £3.5bn (Mar 2026) |
No credit rating of its own in its annual report to 31 March 2026. (source) |
| National Counties Building Society £2.9bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Progressive Building Society £2.3bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Cambridge Building Society £2.1bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Newbury Building Society £1.7bn (Oct 2025) |
No credit rating of its own in its annual report to 31 October 2025. (source) |
| Monmouthshire Building Society £1.7bn (Apr 2026) |
No credit rating of its own in its annual report to 30 April 2026. (source) |
| Saffron Building Society £1.5bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Furness Building Society £1.5bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Leek United Building Society £1.5bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Darlington Building Society £1.0bn (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Suffolk Building Society £960m (Nov 2025) |
No credit rating of its own in its annual report to 30 November 2025. (source) |
| Scottish Building Society £883m (Jan 2026) |
No credit rating of its own in its annual report to 31 January 2026. (source) |
| Hinckley and Rugby Building Society £881m (Nov 2025) |
No credit rating of its own in its annual report to 30 November 2025. (source) |
| Marsden Building Society £864m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Market Harborough Building Society £808m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Melton Mowbray Building Society £759m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Swansea Building Society £715m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Dudley Building Society £680m (Mar 2026) |
No credit rating of its own in its annual report to 31 March 2026. (source) |
| Tipton and Coseley Building Society £669m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Loughborough Building Society £607m (Oct 2025) |
No credit rating of its own in its annual report to 31 October 2025. (source) |
| The Mansfield Building Society £585m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Vernon Building Society £534m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Hanley Economic Building Society £482m (Aug 2026) |
No credit rating of its own in its annual report to 31 August 2026. (source) |
| Harpenden Building Society £463m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| The Chorley and District Building Society £413m (Feb 2026) |
No credit rating of its own in its annual report to 2 February 2026. (source) |
| Bath Investment & Building Society £371m (Dec 2023) |
Its 2023 accounts show no credit rating of its own; its 2025 report could not be read automatically, so its current position is not confirmed. (source) |
| Teachers' Building Society £367m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Buckinghamshire Building Society £348m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Ecology Building Society £348m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| The Stafford Railway Building Society £347m (Oct 2025) |
No credit rating of its own in its annual report to 31 October 2025. (source) |
| Beverley Building Society £226m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
| Earl Shilton Building Society £188m (Mar 2026) |
No credit rating of its own in its annual report to 31 March 2026. (source) |
| Penrith Building Society £171m (Dec 2025) |
No credit rating of its own in its annual report to 31 December 2025. (source) |
The list of societies is the Bank of England's list of PRA-regulated building societies as at 1 November 2026. Total assets are each society's group figure where it has one. We did not search the agencies' own databases, which refuse automated readers; a rated society discloses its rating in its accounts.
Are building societies safer than banks?
For savings up to £120,000 per person, no difference: building societies are authorised by the PRA, regulated by the PRA and FCA, and protected by the FSCS on exactly the same terms as banks. The differences are in how they are built. A building society is owned by its members, so there are no shareholders to pay. And the law limits what it can do: under the Building Societies Act 1986 at least 75% of its business assets must be loans fully secured on residential property, and at least half its funding must come from shares held by individual members, which limits how far it can move into other lending or rely on wholesale borrowing.
Societies can still get into trouble: Dunfermline Building Society failed in 2009 and its savers' accounts were moved to Nationwide. How the rated societies compare with banks is in UK banks ranked by credit rating.
Building society brands that share one FSCS limit
The £120,000 limit is per society, not per brand. Virgin Money, Clydesdale Bank and Yorkshire Bank have been part of Nationwide since April 2026, so they share Nationwide's limit; Chelsea and Norwich & Peterborough are trading names of Yorkshire Building Society. The Co-operative Bank and smile are due to join Coventry Building Society on 1 January 2027 if the court approves the transfer, when their two limits become one (FSCS protection when banks merge; all shared licences).
Frequently asked questions
Which is the safest building society in the UK?
By current credit rating, the highest-rated UK building society is Nationwide Building Society (A+), followed by Coventry Building Society, Skipton Building Society and Yorkshire Building Society (A). Up to £120,000 per person, savings with any UK building society are equally protected by the FSCS.
Are building societies safer than banks?
For savings up to £120,000 per person there is no difference: building societies are regulated by the PRA and FCA and protected by the FSCS on the same terms as banks. By law at least 75% of a society's business assets must be loans fully secured on homes and at least half its funding must come from individual members' shares, but societies can still fail, as Dunfermline did in 2009.
How many building societies are there in the UK?
42, on the Bank of England's list of PRA-regulated building societies as at 1 November 2026. 6 have a public credit rating from S&P, Moody's or Fitch.
Is my money safe in a small building society?
Up to £120,000 per person per society, yes: the FSCS protects savings with every UK building society, whatever its size, and aims to pay within seven working days if one fails. Most small societies have no credit rating, which is not a verdict on their safety. The largest society without a rating is Newcastle Building Society, with total assets of £7.0bn.
Are Virgin Money and Chelsea building societies?
They are brands of building societies: Virgin Money has been part of Nationwide since April 2026, and Chelsea is a trading name of Yorkshire Building Society. Savings with each share that society's FSCS limit.
Ratings are the agencies' published long-term ratings, re-checked daily. The unrated societies' entries were checked 6 November 2026 against each society's latest annual report. This is information, not financial advice.