Stafford Railway Building Society has enjoyed another strong financial year seeing the Society increase mortgage lending by 35 per cent.
The Society has also seen pre-tax profits of £1.02m and members reserves increased to £20.9m.
Throughout 2018, the Society has continued to commit to Stafford Town Centre and the neighbouring community by embarking on a full refurbishment plan for its Market Square offices and branch.
The Society also donated nearly £40,000 to local charities and clubs through affinity savings payments, donations and sponsorship.
In 2018, the Society appointed Steven Jones as Deputy Chief Executive and Finance Director, who has over 27 years’ experience in the financial services sector, latterly as Finance Director & Deputy Chief Executive of Hanley Economic Building Society. On 19 February the Society held its Annual General Meeting which saw Gary Crowe and Karen McCormick re-elected back to the board.
Stafford Railway has continued to increase its links with broker networks and made partnerships in the areas of buy to let, lending to older borrowers and self-build, and continues to have the lowest Standard Variable Rate of all lenders in the UK for its residential mortgages
Michael Smith, Chief Executive said;
“Over the last 12 months the Society has maintained its focus on the products and services that our Members require; simple and secure savings accounts and straightforward mortgages. We continue to be committed to our local area and have chosen to embark on an extensive refurbishment of our Head Office and branch, as well as increasing our staff by 25%”