REPORT ON THE COSTS & BENEFITS OF A BUILDING SOCIETY CONVERTING TO A PLC Introduction At the beginning of this century there were more than 2000 building societies, fiercely independent mutual organisations, formed in the spirit of Victorian self help. There are now just 71. Some of these that have disappeared were terminating societies with a fixed wind up date. The last “terminating'; society was the Fist Salisbury which wound up in 1980. Other societies have been swallowed up in take-overs
order to rescue the mutual savings industry, the FDIC was forced to experiment with a number of different regulatory attempts. Many mutual savings banks including Richard Parsons's Dime Savings Bank were forced to submit to assisted mergers and demutualization. The mutual savings crisis management served as a training ground for the Savings & Loan and Commercial Banking Crises. While there has been a general trend toward bank disintermediation and a greater role for financial markets in many countries