Marsden passes half-billion milestone

Marsden Building Society, based in Nelson, has reached £500m of business managed for the first time in its 159-year history.

A nine per cent increase in assets took the company's total dealings in 2018 to £514m.

The growth was achieved by introducing additional lending services. Helping 1,232 customer buy homes took mortgage volume to £418m, up 9.7 per cent.

In addition, Marsden provided savings products to 1,818 customers, seeing their total share balances increase by 12.3 per cent to £433m.

Profit before tax for the year rose from £1.4m to £2.2m.

Rob Pheasey, chief executive of the Marsden said, “It has been another busy and successful year: a year of growth, a year of investment and a year of making the Society stronger.

"I am immensely proud of what the Marsden team has achieved. Together, we’ve delivered a strong year of performance, both financially and with the organisational capability to support our future services. 2019 will be an equally busy period for the Marsden."