Savings increased by 10.72% (14.36% in 2013) from £116.60m to £129.1m. Mortgage lending increased by 9.91% (7.64% in 2013). Provisions made against possible losses were increased to £257,000 (248,000 in 2013) as a prudent measure against difficult trading times.
Overall net profit was up 43.28% on the previous year at £576,000 (2013 £402,000). Profit before tax rose by 44.68% from £517,000 in 2013 to £748,000 in 2014.
The Society operates with a very low margin between savings and borrowing rates in order to deliver value to both borrowers and savers.