Year End Results Show Profit and Growth as Savers Value Traditional Approach
Dudley Building Society’s year-end results, announced this week, make impressive reading as record levels of savings receipts helped the Society achieve another period of profitable growth.
Members saved £24.7million with the Dudley in the year ending 31st March 2009, perhaps illustrating the strength of traditional local building societies who have continued to prosper in the current downturn.
The Society, based in Stone Street in Dudley and with branches throughout the Borough, has seen its total assets increase to almost £307m, growth of more than 6.51% in the year.
The Society attributes its ongoing success to an unwavering business philosophy as Geoff Caves, Dudley Building Society Chief Executive, explained:
“The Dudley is a traditional building society – we offer the best personal service, we have branches on your local High Street and we provide straightforward and competitive products. We will help you keep your savings plans on track and we will lend prudently to help members buy homes they can afford.
“This year we have seen more existing and new members choose to save with us because they believe our approach to be the right one – sensible, measured and with their best interests in mind. We don’t chop and change our accounts and we don’t offer short term introductory rates that then revert to a much lower rate. Our mortgage lending is primarily residential and we have never bought any mortgage loans.
“With Dudley Building Society, what you see is what you get – we are approachable, friendly and you talk to us direct – usually without any need for an appointment.
“After making a £600,000 provision as our contribution towards the Financial Services Compensation Scheme for bailing out failed banks, Dudley Building Society is delighted to announce healthy post tax profit of £541,000.”
For more information, please call:
Matt Ward
Marketing Executive
Dudley Building Society
Stone Street
Dudley DY1 1NP
Tel: 01384 231414
Fax: 01384 233250
Email: matt.ward@dudleybuildingsociety.co.uk
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