Building societies can also be referred to as savings and loan associations, home loan associations, or mutual savings banks. These institutions provide financial services to individuals and families looking to purchase or maintain their homes. Building societies offer a range of mortgage options and savings accounts to their members, who are also shareholders in the organization. The profits earned by building societies are reinvested back into the institution, helping to foster growth and support the local community. Whether you're looking to buy your first home or save for a renovation, building societies can be an excellent option for securing your financial future.