Building Societies Act is a stock short title used in both Ireland and the United Kingdom for legislation relating to building societies.
Ireland, also known as the Republic of Ireland, is a country in north-western Europe occupying 26 of 32 counties of the island of Ireland. The capital and largest city is Dublin, which is located on the eastern part of the island, and whose metropolitan area is home to around a third of the country's over 4.8 million inhabitants. The sovereign state shares its only land border with Northern Ireland, a part of the United Kingdom. It is otherwise surrounded by the Atlantic Ocean, with the Celtic Sea to the south, Saint George's Channel to the south-east, and the Irish Sea to the east. It is a unitary, parliamentary republic. The legislature, the Oireachtas, consists of a lower house, Dáil Éireann, an upper house, Seanad Éireann, and an elected President who serves as the largely ceremonial head of state, but with some important powers and duties. The head of government is the Taoiseach, who is elected by the Dáil and appointed by the President; the Taoiseach in turn appoints other government ministers.
The United Kingdom, officially the United Kingdom of Great Britain and Northern Ireland but more commonly known as the UK or Britain, is a sovereign country lying off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state—the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world. The Irish Sea lies between Great Britain and Ireland. With an area of 242,500 square kilometres (93,600 sq mi), the United Kingdom is the 78th-largest sovereign state in the world. It is also the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017.
A building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially savings and mortgage lending. Building societies exist in the United Kingdom and Australia, and used to exist in Ireland and several Commonwealth countries. They are similar to credit unions in organisation, though few enforce a common bond. However, 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 18th century in Great Britain from cooperative savings groups.
