1st May 2011
Dudley Building Society has today released details of its year-end results which confirm the Dudley has enjoyed another year of profitable growth.
The Society, whose Principal Office is in Stone Street in Dudley, has seen its total assets increase to £316.5million, up from £313million in 2010 (growth of 1.13% for the year).
The inflow of members’ new savings receipts totalled £5.9million for the year whilst mortgage advances increased from £25million in 2010 to £37million in the year ending 31st March 2011. Post-tax profit for the year is £704,000.
Dudley Building Society’s continuing success can be attributed to its determination to remain focused on providing a high quality service and relevant, sensible savings accounts and mortgages to its predominantly local membership.
Geoff Caves, Dudley Building Society Chief Executive, says another year of growth proves the Dudley remains the safe and reliable option for local savers and borrowers:
“People have continued to live in the shadow of economic uncertainty during the year and scrutiny on banks and financial organisations has remained at the fore. This backdrop has continued to provide us with a myriad of challenges so it is particularly pleasing to report that the Dudley continues to grow and strengthen its position as a leading local building society.
“Members know what we represent and they can rely on us to deliver the very best personal service at each of the seven Dudley Building Society branches and our agency network which now numbers twelve, providing straightforward, competitive and transparent products. There will be no deviation and no gimmicks, just a sensible, measured approach keeping their best interests in mind. I would like to thank members for their continued support and to encourage local savers and borrowers to call into their local branch to discover the Dudley for themselves.”