Chief Executive Kevin Wilson said the results showed that Leek United ‘”continues to progress and thrive, as a trusted building society with a proud past and a bright future.”
Kevin said that the strength of the Society’s reputation as a safe, secure haven for members' savings had seen a £49m increase in retail savings balances during 2014.
New Mortgage lending of £109m during 2014 and total mortgage balances of £675m had been achieved without the Society incurring any mortgage losses.
Kevin also revealed the launch of two major initiatives by the Society - a Trainee Management Programme and a Mortgage Advisor Academy.
He added:
“We have continued to control the Society’s profit levels, and our capital strength and reserves leave us in a strong position in an uncertain marketplace.
“We are also continuing to plan and invest in the future of our Society, a key feature of which is our significant investment in new technology.”
