Ecology Building Society to open its first UK physical branch in the Valleys

It has transformed a former hardware store in Porth for its first high street branch with plans for more branches

Building society Ecology will open its first UK high street branch in the Valleys next week. The Yorkshire headquartered mutual, which is the youngest in the UK having been established in 1981, will open it maiden physical branch in Porth on Monday having acquired a former hardware shop on Hannah Street.

In partnership with Rhondda Cynon Taf Council, Ecology Building Society – which has 15,000 customers served via online, post and telephone – secured UK Government Shared Prosperity Funding to renovate the building, which had stood empty since June 2025.

It will provide face-to-face service offering a range savings and mortgage products. It will also feature kiosks giving business and retail customers free access to cash deposit and withdrawal services, including to those without Ecology accounts. A community space, available for local groups to host activities, has also been designed into the branch.

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To mark its first physical branch, Ecology has launched the first savings account of its kind to raise cash for good causes in Rhondda Cynon Taf (RCT). The easy access product pays a rate of 2%. The society will make a donation equivalent to an annual rate of 1% of average monthly balances into a fund offering grants of up to £500 to eligible good causes.

The Porth branch has created three roles; a branch manager, a community engagement manager and a branch service specialist. Ecology is currently evaluating a number of other potential sites in the UK for further physical branches.

Gareth Griffiths, chief executive of Ecology Building Society, who is learning Welsh, said: “We’re looking forward to opening our first-ever branch, bringing essential financial services back to Porth high street for residents and businesses in the area who were deserted by the big bank closures.

“To show our commitment to our new community, we’ve created the community impact saver account, through which savers can support local charities and other organisations doing good in their area.

“We know how much people value face-to-face support. Our branch team are ready to welcome the people of Porth and the surrounding area, providing access to ethical savings and mortgages that do good for people and our planet.”

For its 2025 financial year Ecology grew total assets from £336.7m a year earlier to £347.9m, with saving balances up from £316.4m to £325.2m. It raised a further £4.1m through a second issue of core capital deferred shares, giving the society added capital to £4.1m to support its growing mortgage book and providing funding for commercial projects.

Due to planned investment, Ecology made a modest underlying profit before tax in 2025 of £418,000 (2024: £445,000).

Mr Griffiths said: “A huge amount of hard work throughout 2025 has set us up for success in 2026. “We’re the UK’s youngest building society and were created to be a pioneer and a disruptor, to challenge the norm in our industry and do business differently.

“The delivery of such a pivotal year in our history is testament to the passion and dedication of our fantastic colleagues and I’m proud of their commitment to our purpose as a business and their care for our members. Underlying profits remain strong and we forecast a return to usual levels of profitability in 2027.”