Society reveals rebrand and record-breaking results for 2018
At our 2018 Annual General Meeting, Commercial Development Executive, Richard Crisp, revealed the Society’s new brand and Chief Executive, Gev Lynott, reported a record post-tax profit of £1.75 million for 2018.
Our new brand follows extensive research which included both member and intermediary feedback, and creative inspiration from the Society’s Head Office location near Sherwood Forest as well as a look back into the area’s rich industrial past.
The new logo features a combined forest and stag motif and the building society status, which reaffirms the commitment to our strong mutual ethos and proud heritage. The Society remains dedicated to responding to social need, working with both savers and borrowers to offer product solutions that meet today’s financial needs.
In 2018, we lent £94 million in new mortgage loans resulting in an 11.7% increase in mortgage assets in the year, whilst at the same time adding almost £25 million to our total savings balances, and posting a record post-tax profit of £1.75 million.
During 2018 the Society also added a number of mortgage products to our overall offer, including the launch of a new ‘Family Assist’ mortgage to help First Time Buyers struggling to save for a deposit, and expanded access to mortgage finance for older borrowers in, or approaching retirement.
In addition, the Society also made available some of our best savings rates for local residents and existing customers, including our range of Community Saver accounts where we commit an amount equal to 0.1% of balances to its Charitable Trust each year – total Community Saver balances are already heading towards £10 million, helping to create a charitable legacy for years to come.
We’ve also announced our continued commitment to improving the quality of life for those living, working and volunteering in our Heartland Area with donations through the Society’s Community Support Scheme as well as the Charitable Trust, including £42,500 pledged to Portland College to help fund an innovative woodland adventure trail; £10,000 donated to R.E.A.L. Education to create a mobile classroom, and £10,000 awarded to The Inspire and Achieve Foundation to expand its Prince’s Trust Team Programme in the local area.
Gev Lynott, Chief Executive, said:
“We are very excited to be announcing our new brand which combines the Society’s rich heritage and mutual ethos with our financial strength and future ambition. The new brand also captures the spirit of Mansfield past and present, as well as the Society’s unwavering commitment to the community which it has now served for almost 150 years.
“This is a brand which will be seen across our branch network and via our online and social media channels, which we continue to invest in. In fact, the Society has already acquired larger premises in Sutton in Ashfield which are set to open later this year, and we are looking to further improve and add to our existing network if appropriate premises become available.
“From a commercial perspective, our 2018 results reflect another strong performance for the business, particularly in the savings and mortgage markets where we continue to develop products and services that our members want and need, now and in the future.”