Dudley Building Society profits rise
Profits were up by £448,000 for Dudley Building Society for its last financial year.
The pre-tax profit figure for the year to the end of March was £1.335 million from £887,000 for 2014-2015.
Its total assets have also risen to more than £350m and it undertook £57.4m of lending with reserves rising 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."
The 158-year-old society's annual general meeting is to be hosted at Himley Hall on July 21 at 2pm when special guest Pippa Greenwood, the former BBC2 Gardeners' World presenter, will be giving a talk and answering questions .
The society's branch users recently selected Mary Stevens Hospice as their chosen charity of the year, which will see it 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 per cent of the £2.9 million it costs to keep the hospice open every year, so to receive this kind of support is simply invaluable."
