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Measured Growth from Dudley Building Society

Dudley Building Society has announced yet another year of pleasing results. Pre-tax Profit this year has reached £1,335,000 and Total Assets have risen to over £350m, which will mean the Society is bigger than it has ever been. It has undertaken £57.4m of lending and reserves have risen to £19.9m.

Chief Executive Jeremy Wood said, ‘I am pleased that we are announcing another year of growth that has been achieved in a controlled and measured way. This year has seen us update our lending policies, introduce new products, improve service standards and concentrate our efforts on where we believe our greatest strengths lie. We have continued to invest in our Society and our branch network – most recently the relocation of our Kingswinford branch to a bigger more prominent home in the Townsend Place Precinct. As a member owned mutual, it is important that we stay true to our roots and respond to demand – receiving pleasing national press coverage when we scrapped upper age limits for borrowers across our whole mortgage product range is testimony to that’.

He added, ‘The market remains as competitive as ever but we are confident that we service the requirements of both borrowers and savers, along with providing additional services that customers have come to expect in their financial institution of choice such as financial advice from independent specialists, will writing services and home insurance.’

The Society’s branch users recently selected Mary Stevens Hospice as their chosen Charity of the Year, which will see them receive a donation for every Member that votes as part of the AGM process. Charlotte Schofield from Mary Stevens Hospice said, ‘We’re delighted that the Members of the Dudley Building Society have picked us as their Charity of the Year. We rely on our community to help us raise 80% of the £2.9 million it costs to keep the Hospice open every year, so to receive this kind of support is simply invaluable.’

The Society’s AGM is to be hosted at Himley Hall on 21 July 2016 at 2:00pm. It also welcomes special guest Pippa Greenwood who will be giving a talk and answering questions on the day. Pippa was a presenter for over 13 years on BBC2’s Gardeners World and has been a contributor to a number of well known television programmes including GMTV and This Morning.

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

Last modified on Monday, 20 June 2016 09:19

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