You are here: Home - News -

Darlington BS to share profits with community

by: Heather Greig-Smith
  • 26/01/2017
  • 0
Darlington BS to share profits with community
Darlington Building Society has pledged to share 5% of net profits after tax with the local community.

The pledge follows the lender’s successful 160th anniversary undertaking to give 160 volunteering days to organisations, raise £160,000 for local causes through activities and events, and use resources to help 160 local organisations.

Members of the building society will have the opportunity to help decide where the money is spent and which organisations and good causes will benefit. The charitable giving will be managed by County Durham Community Foundation.

In the last year Darlington has lent just under £100m through its mortgage business. Of that around 75% is through brokers, and this is expected to rise to around 80% as lending grows in 2017.

Colin Fyfe (pictured), chief executive of Darlington Building Society, said:  “The commitment to share 5% of our net profits after tax is Darlington Building Society genuinely putting its money where its mouth is. We are extremely excited to be able to make such a huge commitment to the area.

“Feedback we receive from members, staff, brokers and the local community points to a desire for the Society to make a real difference in the community and to be more tangible about how we do this.

“We already have exclusive deals on mortgages and savings for local people, provide a high quality personal service in our local branches and all our decisions are made locally. This new commitment builds on our ethos of sharing with the local community.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Phil Rickards pic
Brokers will hold invaluable customer role amid tumultuous BTL market – Phil Rickards

As the dust settles on 2016, the buy-to-let market looks forward from a whirlwind year with a landmark shift in...

Close