Building societies have suffered their first month of customer deposit withdrawals since the financial crisis began.

Figures from the Building Societies Association, show that the public withdrew £170m from building societies last month compared with the record £2.8bn placed with mutuals in the wake of Northern Rock’s collapse in September 2007. The sudden outflow suggests a shift in public perception of building societies. The BSA noted in July that savers viewed societies as 'ried and trusted compared to other, more volatile, investment opportunities'.

Daily Telegraph