Ecology Building Society saw a 76.59% increase in new mortgage lending in 2021, its annual results have shown.
This saw total assets increase by 13.40% to above £250m for the first time with mortgage growth fuelled by a 14.6% increase in the number of members saving with the Society.
The Society lent over £69.4m in 2021 supporting 371 sustainable properties and projects ending the year with a 22.3% growth in mortgage assets.
Chief executive Paul Ellis said: “These results mark an outstanding year of sustainable growth for Ecology demonstrating, more than ever, the strength of our lending model and the importance of finance that has a positive impact for people and our planet.
“2021 was a special year for Ecology as we marked our 40-year anniversary of pioneering sustainable finance. We’re powered by over 12,000 members, so it was critical that they helped to shape our new strategy setting out how we will realise our ecological mission for the remainder of this decade. Members can continue to be assured that their money is delivering a real contribution to tackle the climate and ecological crisis as well as supporting our agitation for system change.
“I’m immensely proud that, for the first time, we have made comprehensive disclosures on climate risk using the internationally recognised TCFD framework showing how we’re helping to build momentum for other banking organisations to report on their climate impacts.
“Looking ahead our strong pipeline of lending for low impact homes and financial position gives us a firm foundation to continue to invest in our services to our members, innovate, and grow our sustainable lending further during 2022 and beyond.
“I am departing Ecology well assured that I will be leaving the Society in the very capable hands of those who are determined to build on the Society’s legacy as a leading example of the transformative power of ethical finance.”
Ellis is stepping down at the end of April 2022 after more than 40 years of involvement with Ecology, 27 of which as chief executive.
