Bristol & West (B&W) was a former mutual building society in the United Kingdom (UK), one of the first to be demutualised to become a publicly traded bank in 1997. Bristol & West had its headquarters in Bristol, England, UK. B&W became a division of the UK arm of the Bank of Ireland in 1997.
Bristol & West former headquarters being converted into a hotel in 2006
A building society is a financial institution owned by its members as a mutual organization, which offers banking and related financial services, especially savings and mortgage lending. They exist in the United Kingdom, Australia and New Zealand, and formerly in Ireland and several Commonwealth countries, including South Africa as mutual banks. They are similar to credit unions, but rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Great Britain from cooperative savings groups.
A high street building society branch, in Banbury
The Abbey National was the first society to demutualise in July 1989.