News of the merger, which became effective on July 1, was confirmed by Prudential Regulation Authority (PRA).

It follows announcement by the boards of both societies in March 2023 that they had entered into a legally binding agreement.

Manchester Building Society says it intends to keep its name and will continue to have a base in the city.

Its chief executive officer, Paul Lynch previously said the merger would enable members and colleagues to ‘look forward with certainty and optimism’.

Meanwhile, Newcastle Building Society chief executive officer Andrew Haigh described it as ‘important in maintaining a strong building society sector in the UK’.