Member Article

Significant progress for building society named as Best Specialist Mortgage Provider

Darlington Building Society, recently named as Best Specialist Mortgage Provider at the British Bank Awards, has reported a good financial performance in the 12 months to December 2018 alongside some significant progress across the business.

Building on the strong foundations of its 163-year history, the award-winning Society maintains its robust financial position with results showing asset growth alongside steady profits and higher general reserves.

The Society has also made significant progress across the business by investing in both its online offering for Members and in upgrading its branch network, based in the County Durham, Teesside and North Yorkshire areas.

Headline statistics include: • Net profit after tax reported at £1.56 million • Ending the year with a strong capital position of £44.1 million • Average customer satisfaction scores of 97.7% • Over 19,060 people benefitting from the Society’s commitment to share • Total Assets grew to over £611 million

Chairman Jack Cullen concluded: “2018 has been another successful year for the Society, our Members, our colleagues and our Community. There were a number of real highlights throughout the year and the delivery of our online platform marked a real step forward in improving the services to our Members. In addition, we commenced a programme of investment in our branch network, which will continue through 2019.

“As well as the recent success at the British Bank Awards, the Society claimed seven other awards during 2018 and this demonstrates a real strength across the business.”

The Society, which has an ethos of sharing through its commitment to share 5% of its net profits after tax in the area it serves, shared more than £80,000 with 19,060 people and 88 organisations throughout the year. Staff have also spent 111 days volunteering with local organisations, further proving the Society’s commitment to sharing.

This was posted in Bdaily's Members' News section by Harvey & Hugo .