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Dudley Building Society > News > Dudley Building Society Breaks Records in a Milestone Year

Dudley Building Society Breaks Records in a Milestone Year

Dudley Building Society Breaks Records in a Milestone Year

21st June 2018

Dudley Building Society, who celebrate their 160th Anniversary this year, have announced their year end results – with a record number of borrowers’ mortgage needs catered for and over £70m deposited by savers in the year ended March 2018.

A pre-tax profit has been reported of £1,546,000 supporting a year end total asset base of £397.4m (this has exceeded £400m since the end of the Society’s financial year) and mortgage lending of over £82m.

The Society also achieved a position of 24th in The Best Companies to Work For table in the Midlands 2018.

Chief Executive, Jeremy Wood said, ‘I am thrilled to be reporting yet another year of exceptional growth, business volumes and profit to our members. The Society has lent over 50% more than it did last year and we have grown as a business by 12%. As we grow we are able to invest in the business and have continued to introduce improvements for the benefits of members in a Society that they own’.

The Society has championed lending in areas such as supporting the self employed, ex-pats and has continued to lead in the later life lending arena. The demand for mortgages has supported increased appetite for savings and has seen the Society introduce new savings accounts for corporate bodies along with a loyalty saving range for existing members.

The latter part of the year saw a refresh of the Perton branch seeing the completion of a branch wide refurbishment program that has been well received by the members who are frequent visitors.

As the financial year came to an end feedback on independent review platform Smart Money People resulted in overall satisfaction rating of 98% from Society members.

Full details about the Society’s performance and supporting financial information can be found in the Member Review and Report & Accounts that are available on the Society’s website: www.dudleybuildingsociety.co.uk

The Society’s AGM will feature as part of a member event that will start at 2:00pm on 19th July at Himley Hall, Himley, DY3 4DF and will welcome Lord Digby Jones who will be meeting members, delivering an insightful talk followed by a question and answer session.

The event will mark the start of the Society 160th Year celebrations that will include a number of announcements on the day.