Scottish Building Society has doubled in size over the past five years, with total assets at £866.5m, more than twice the figure in 2020.
The growth trend began after Paul Denton, CEO at Scottish Building Society, joined the organisation in 2019 with a new leadership team.
The society said it has focused on investing in its people and maintaining high levels of customer service.
In 2024, although the UK mortgage market stayed slow due to high interest rates and affordability issues, Scottish Building Society’s mortgage portfolio increased by 7%.
Savings balances also rose by 20%, compared to a market average of 5%.
Additionally, savings members earned an additional £7.6m in interest, which was 1.45% above the market average.
Denton said: “From the moment I joined this historic organisation, I could sense something special.
“For over 175 years, our commitment to the communities we serve has never wavered—if anything, it feels more vital today than ever.
“Our ethos of offering simple, easy-to-understand products has stood the test of time—especially through today’s economic challenges.
“While others close branches and shift to digital-only services, we remain focused on choice—offering what truly works for our members.”
Denton added: “You see this in our continued investment in relationship centres, passbook savings, and a personal approach to mortgage underwriting.
“At the same time, we’re enhancing our digital tools to give members secure, convenient access to their savings and their documents online.
“The steady growth in our membership reflects the real value offered by building societies.”
He said: “Our organic growth is built on loyalty and trust. In an age of misinformation and risky financial products, the need for straightforward, reliable options has never been greater.
“With the UK Government aiming to double the size of the mutual sector, we’re proud to help lead the way.
“As the world’s oldest remaining building society—and with the 250th anniversary of the first building society on the horizon—we remain committed to putting our members first, always.”
