Newport-based Monmouthshire Building Society celebrates an incredible milestone tomorrow (January 23) when it turns 150.

The idea and vision of three local business men one Saturday evening in 1869 has transformed into a modern mutual building society with more than £1bn in assets.

The solid foundations laid in 1869 has enabled the society to support the people and communities in which it is based through two world wars, two turns of the century and seen Newport grow from a population of 26,000 people and 3,900 properties to its present size.

The many custodians of the society over the years have ensured the business remains safe and secure in an often volatile financial services market, whilst moving it forward to provide members with a range of products that provide solutions to their problems.

Will Carroll, CEO, said: “The society has gone from strength to strength over the last 150 years, putting its members at the heart of everything it does. I am so proud to be a part of a business that has such a strong heritage, along with a clear vision to ensure the society continues for generations to come.

“I am looking forward to a year of celebrations that will help us celebrate this milestone birthday, and doing what we have always done, looking after our colleagues and members alike.”

Debra Lewis, the society chairman, said: “The society has shown great commitment to ensuring its members are able to access products and services through all channels including, branches, agencies and digitally through our website and member portal.

"This is set to continue with the launch of new propositions and services in 2019 and beyond. It is an honour for the Board and I to be part of the business at such an exciting time, and to share in the celebrations of this birthday.”

What’s next?

The society has a very clear strategy to ensure it will continue to grow over the coming years.

Working together with a number of third party organisations to develop and deliver member-led propositions and services will see the society competing with other banks and building societies on the high streets of Wales and beyond for years to come.