Ninety seven per cent of members who took part in the Norwich and Peterborough (N&P) Building Society's annual survey voted against changing it to a bank.

Instead, most members say they would be better served by the society keeping its mutuality status.

N&P chief executive Matthew Bullock said: "I'm very pleased that, once again, our members are showing their overwhelming support for us remaining a local, mutual building society.

"In a time of financial unrest, it's important that our customers know they can trust us to provide the excellent service they've come to expect, and that we'll continue to seek to improve that service with refurbishments in our branch network."

And while the survey also found that most members – 87 per cent – still preferred to use its branch network over any other method, the number of members using its internet services has more than doubled, albeit from five per cent to 11 per cent.

N&P spokeswoman Laura Hogg said: "I think the rise in the use of internet banking is to be expected as people are becoming more comfortable with dealing with their finances online.

"It works as a good alternative for people who may find it hard to get into a branch regularly, or who appreciate the convenience of checking their accounts in the middle of the night."

She added: "Although the increase to 11 per cent is definitely a jump, it is still a long way behind the 87 per cent who stated they use our branches as their preferred method of dealing with us.

"I do think that the number of people using internet banking will definitely increase over the years. However, for more complicated transactions such as mortgages, reviews of accounts or more in-depth financial advice, people will continue to want to speak to us face to face in our branch network."

However, the findings justify the society's decision to embark on a major refurbishment of 10 of its branches and an extension of the network – including the opening of a second branch in Cambridge – bringing the number of outlets to 56.

Other findings included:

• 82 per cent said they had recommended the society to a friend or family member.


• When asked what they liked best about N&P, 79 per cent said the staff.


• Four per cent said they liked the products

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The N&P, based at Lynch Wood, Peterborough, has 450,000 members. Each year it donates 50p to charity for every vote cast in its annual survey.

This year, the society pledged to donate £22,102.50 to the East Anglia's Children's Hospices (EACH).