The Cambridge Building Society has exceeded £2bn in assets for the first time in its 175-year history.
In 2024, the society achieved a profit before tax of £11.4m, with capital reserves rising to £134m and liquidity assets reaching £387m.
Additionally, the society issued £305m in new mortgage lending, with 75% of borrowers choosing to renew their loans.
Net savings inflows totalled to £98m, and over 85% of maturing fixed-term accounts were reinvested.
Customer satisfaction hit a five-year high, with 95% of customers reporting that The Cambridge met or exceeded their expectations.
The society also gained awards for its mortgage services and commitment to employees.
Peter Burrows (pictured), chief executive at The Cambridge, said: “It was another strong year for The Cambridge – not just in our financial performance, but across the board as we continue to thrive and deliver award-winning products and services.
“In 2024, we remained focused on delivering outstanding customer service while maintaining financial strength and stability.
“I’m proud to share that our customer satisfaction reached a five-year high, a reflection of our team’s unwavering dedication.”
Burrows added: “We continued investing in our people, helping us retain our status as an employer of choice.
“Financially, we reached a major milestone, with our assets surpassing £2 billion for the first time in our history, all while maintaining sustainable profitability and exceeding capital and liquidity requirements.”
He said: “Our commitment to the community remains at the heart of everything we do.
“We expanded our unique Rent to Home scheme and provided a further £120,000 in grants to good causes.
“As we celebrate our 175th anniversary this year, we’ve pledged to strengthen our roots even further to ensure we make a long-lasting impact in the communities we serve.”
