Inside building society's huge five-storey branch bucking concerning High Street trend

One of the biggest new building society branches in the UK has just opened - bucking the trend of High Street closures.

More than 6,300 banks have disappeared from UK High Streets since 2015. The Mirror was given a guided tour of the Newcastle Building Society's new 10,000 sq ft flagship as part of our Save The High Street campaign. It officially opened the multi-million pound 'community-focussed' city centre branch after consulting with customers.

They told them that they wanted old fashioned 'face to face' service. And the building society's bosses were determined to bring more branches across their network, in city centre locations as well as in rural communities, with a new branch also set to open in Manchester city centre.

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At five storeys high, the latest branch of the UK’s seventh largest building society offers advice as well as financial service. Bosses wanted to demonstrate an alternative to show "what high streets could look like" when banking giants simply listen to the public.

Their 350,000 customers placed "great value on physical locations". Newcastle has joined forces with the Manchester Building Society to open new branches across their network.

And it seems to work. From January to April 2025, branch savings balances grew at a rate more than double the market average. The new Monument branch in Newcastle city centre has rooms which can be used by community groups for free.

It is part of the society's commitment to keep branches open. Chief Executive Andrew Haigh said: “This is our biggest single branch investment and a huge commitment to our home city.

"We continue to invest in branches and in opening more locations. Our members repeatedly tell us that they want the option of having a trusted, friendly conversation about their money, rather than being forced to solely manage their finances online.

"Having accessible financial services across our regions opens the door to better financial outcomes for many more.

"Our approach has seen our branch network outperform the market average for savings balances, growing at a rate of more than double the whole of the market average."

Kim McGuinness, North East Mayor, described the new flagship branch as "exactly what our high streets need". She said: "We want spaces and services to help the communities they serve thrive.

"I hope to see more businesses reimagine how they can unlock the potential of high streets." Newcastle Building Society has just opened a branch in Pickering, North Yorks., and a new community partnership in North Shields, North Tyneside.