Ecology Building Society Chooses Welsh Town for Historic First Branch
Ecology Building Society, the UK's youngest mutual established in 1981, has selected Porth in Wales as the location for its very first high street branch. The new facility is set to open in April at the site of a former hardware store on Hannah Street, marking a significant milestone for the society.
Regeneration Through Partnership
In collaboration with Rhondda Cynon Taf Council, Ecology Building Society secured UK Government Shared Prosperity Funding to renovate the building, which had been vacant since June 2025. This initiative will create at least three new jobs in the area, providing a much-needed economic boost to the community.
The society, which currently serves 15,000 customers through online, postal, and telephone channels, is expanding its physical presence to address growing demand for in-person services.
Comprehensive Banking and Community Services
The new branch will offer face-to-face services including a range of savings and mortgage products. It will feature kiosks providing free cash deposit and withdrawal services to both business and retail customers, even those without Ecology accounts.
A dedicated community space has been incorporated into the branch design, allowing local groups to host activities and events. This innovative approach combines traditional banking with community engagement.
Addressing Banking Deserts
Gareth Griffiths, chief executive of Ecology Building Society, explained the rationale behind this investment: "For too long, communities like Porth have been abandoned by the big high street banks, leaving them stranded in a 'banking desert' without access to essential services and support."
"These faceless corporates have put profit-driven decisions over people's needs, leaving a gap that Ecology is determined to fill. This ambition starts with our very first branch in Porth."
Griffiths emphasized that since the COVID-19 pandemic and cost-of-living crisis, people have shown increased need for security and face-to-face support, which major banks have failed to adequately address.
Wider Context of Bank Closures
Ecology identified Porth as one of several areas across the UK facing long-standing inequalities in access and opportunity. In Wales alone, over 62% of high street bank branches have closed in the last decade.
Porth's last remaining bank closed more than eight years ago, making it difficult for residents and local businesses to access key financial services. The society is currently considering potential locations for additional physical branches, though these plans remain at an early stage.
Local and Expert Reactions
Mark Norris, Rhondda Cynon Taf Council's cabinet member for regeneration and housing, expressed enthusiasm about the development: "We are delighted to welcome Ecology Building Society to Porth, bringing much-needed community facilities to the town."
"As well as the immediate and obvious benefits of new banking services and local employment opportunities, this partnership has also meant an empty property, which was at risk of becoming an eyesore and a cause for community concern, has been regenerated."
Rachel Springall, finance expert at Moneyfacts, commented: "It is wonderful to see Ecology Building Society launch its first-ever branch to support those who are under-served in their area. There has been a stark decline in bank branches over the years, attributed to falls in footfall and changing consumer behaviour."
"However, there are still people out there who need access to branches to deposit or withdraw cash or need in-person support. Mutuals are champions at giving back to the community, so it's brilliant to see the inclusion of a space available to local groups and that even non-members can use the banking facilities."
Financial Background
In 2024, Ecology Building Society reported total assets of £337 million, with £250 million related to mortgages. The mutual is currently preparing its financial report for 2025, which will provide updated figures on its financial position and growth trajectory.
This pioneering branch represents not just a business expansion, but a commitment to community banking principles in an era of increasing digitalization and bank branch closures across the UK.
