Historic moment for Marsden Building Society
The Marsden Building Society has passed a major milestone.
Figures released this week reveal that the total assets managed by the Nelson-based society have topped the £400m mark for the first time in its 155-year history.
The Marsden had a strong financial year with 1,890 new saving members joining.
Profit for 2015 was £1.22m.
During the year Marsden’s gross lending volumes increased to £87m, a rise of almost 11% on last year helping over 500 members buy their own homes.
Savings balances grew by £22.6m to £332.5m and residential mortgage balances went up by £11.7m to £301.9m.
Marsden chief executive Mr Rob Pheasey said: “Marsden Building Society will celebrate its 156 year in 2016.
“Our results in 2015 continue the trend of growth and financial stability that has built the Society into what it is today. It has been another busy and successful year: a year of growth, a year of investment and a year of making the Society stronger.
“Our strength in the future will be largely dependent on retaining the loyalty of existing members and in building a modern mutual that attracts new members in the future.
“I strongly believe the ambition we have set for the Marsden will be delivered in strategies that benefit the interest of all members and I look forward to keeping our members updated in the coming year.”