Latest News
Strong results for Leek United Building Society |
Date: 16/3/2010 |
| LEEK United Building Society has today announced strong financial results for year ended 31 December... | |
Strong results for Leek United Building Society |
Date: 16/3/2010 |
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LEEK United Building Society has today announced strong financial results for year ended 31 December 2009, which reinforces its position as ‘a financial strong, safe, independent building society’. Highlights include: ·Group profit before tax and FSCS (Financial Services Compensation Scheme) levy: £4.2m (2008: £3.2m) ·Group profit after tax: £2.75m (2008: £1.5m) ·Group assets: £735m (2008: £754m) ·Group reserves: £47.37m (2008: £45.75m) ·Mortgage lending £60m (2008: £44m) ·No mortgage losses for the 6th consecutive year ·Management expenses ratio 0.80% (2008: 0.78%) All other key financial ratios, including liquidity, gross capital, free capital and profit to mean assets, all increased during the year to complete a robust financial performance. Commenting on the results, Leek United’s Chief Executive, Kevin Wilson said: “During a period of unprecedented financial turmoil, I am pleased to report that Leek United has, once again, provided a strong business performance during 2009. The results are a testimony to our sustainable business model. Mortgage lending increased during 2009 without any compromise on quality. Our prudent lending policy and individual underwriting, which has been adopted over many years, is proving to be an invaluable asset in the current economic downturn. So whilst in the past, Leek United may have appeared to be overly cautious, we have simply remained true to the values of a traditional building society by providing mortgages primarily on residential properties and ensuring a responsible lending approach to ascertain affordability. Fair treatment for all borrowers who experienced financial difficulties during 2009 has meant that we have only taken one property into possession during the year and, with only 0.27% of our borrowers being three or more months in arrears, we are proud that these figures are also one of the lowest in the financial sector. Competition for retail savings has been fierce throughout 2009, especially from some of the main banks who have received massive taxpayer financial support enabling them to offer commercially unsustainable interest rates. As a result, the building society sector has experienced a reduction in savings balances with the main beneficiaries being the part-nationalised banks. Looking forward, 2010 will continue to provide a challenging environment for consumers and businesses alike, with the UK making a slow recovery from the current recession.” |
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A ‘heartfelt’ gift to hospital from Leek United |
Date: 21/12/2009 |
| A HEARTFELT gift from Leek United is set to benefit the hearts and health of patients at a Staffords... | |
A ‘heartfelt’ gift to hospital from Leek United |
Date: 21/12/2009 |
A HEARTFELT gift from Leek United is set to benefit the hearts and health of patients at a Staffordshire hospital.It has become an established annual tradition for the Society to make charitable festive donations in lieu of sending out corporate greetings. And its gift of £500 will now help to purchase a new electro-cardiograph (ECG) machine for the Leek Moorlands Hospital. The £1,500 equipment will be used in the Minor Injuries Department during clinics held there, and for patients referred to the hospital by North Staffs Urgent Care and their own GPs. Hospital Cashier Barbara Kania said: “The ECG machine records a patient’s heart activity over a period of time, then prints the results on graph paper. Those results assist medical staff in identifying various problems, including heart attacks and possible coronary artery disease. “Our new machine is replacing one that has been used extensively over the past nine years, and was in need of updating. We greatly value the continued support of Leek United, whose kind gesture is very much appreciated, especially in light of the current economic climate. The ECG machine will be a great asset to the Minor Injuries Department, and will enable us to treat patients from the local community using the latest, up-to-date equipment.” The Society’s cheque was presented to hospital staff Julie Tooke, Karen Kennerley, Rachel Tong and Jean Peacock by Branch Managers Sheila Kirk, of Leek (Derby Street) and Kate Bonehill, of Leek (St Edward Street). Chief Executive Kevin Wilson said: “So many organisations spend a great deal of money each year at Christmastime, sending out corporate gifts and greetings. We have long felt that this money is of greater benefit to the community we serve, and we are delighted once again to be able to make this festive donation to Leek Moorlands Hospital.” |
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'Nets interest' this winter for junior cricketers |
Date: 3/12/2009 |
| YOUNG cricketers are set to improve their game this winter – thanks to a ‘net interest’ payment from... | |
'Nets interest' this winter for junior cricketers |
Date: 3/12/2009 |
YOUNG cricketers are set to improve their game this winter – thanks to a ‘net interest’ payment from Leek United.Sponsorship from the Society is helping Leek Cricket Club to finance indoor training sessions for its junior members every weekend throughout the close season. The Macclesfield Road-based club has just employed new coach Dave Ferris on a three-year contract to develop its youngsters. And thanks to Leek United, the junior teams will now be getting in plenty of nets practice at Leek High School in the run-up to their 2010 league fixtures. Club chairman Brian Mellor said: “Our junior teams have just completed another very good season; our under-17s won their league, the under-15s and under-13s were runners-up in their respective leagues, and our under-11s finished mid-table. “Getting Dave in represents a big investment for the club, and he’ll be playing a key role in helping to improve our young players. “We’ve enjoyed a long-standing relationship with Leek United, and we’re delighted at the Society’s continued support and assistance, which enables us to maintain the stability we need to continue developing the club at all levels.” Leek United's Head of Retail Sales, Ben Gronneberg, said: “Leek United has a long relationship with the cricket club and we are happy to be able to assist with the ongoing development of its younger members and support the contribution the club makes to the local community.” |
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Society starts 150th celebrations early - with launch of anniversary bond |
Date: 9/10/2009 |
| SAVERS are being given an early invitation this month to join the ‘guest list’ for a milestone celeb... | |
Society starts 150th celebrations early - with launch of anniversary bond |
Date: 9/10/2009 |
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SAVERS are being given an early invitation this month to join the ‘guest list’ for a milestone celebration – with the launch of a special Leek United ‘anniversary bond’. The limited edition bond – available from October 12 – pays a very attractive 4.30% gross/AER, 3.44% net fixed rate annually and matures on 15 May 2013...coinciding with the Society’s 150th anniversary! Head of Savings, Steve Boulton, said: “These are exciting times at Leek United and the launch of this particular account to customers will, in turn, launch the planning of our celebrations for 2013. “This long-term bond provides an excellent interest rate for customers, giving them peace of mind that their money is working hard for them and the confidence that their investment is safe.” A monthly interest rate option for the Anniversary Bond is available if required, and the bond can be opened with a minimum deposit of £1,000. |
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The Leek'll fix it for gym |
Date: 9/7/2009 |
| YOUNG Staffordshire gymnasts are head over heels with delight after Leek United stepped in to help t... | |
The Leek'll fix it for gym |
Date: 9/7/2009 |
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YOUNG Staffordshire gymnasts are head over heels with delight after Leek United stepped in to help them showcase their sporting talents... The Society is sponsoring Uttoxeter Gymnastics Club’s Annual Competition on Sunday, 12 July, an opportunity for hundreds of young members to demonstrate the demanding skills they’ve learned and developed in the past year. Almost 400 children, aged up to 14 years old, will compete in a series of disciplines during the event at the club’s base in Town Meadows Way, Uttoxeter. And the Leek’s sponsorship has provided the trophies and medals that will be presented to the winning youngsters. “The competition is the highlight of the year for all our young gymnasts,” said club chairman Richard Phillips. “A small number of our members compete externally at county and national level, but for the others, this is their big chance to show what THEY can do. “This is the fourth year now that Leek United has very kindly sponsored the competition, and we are delighted and very grateful for their continued support.” Set up in 2000 at Uttoxeter Leisure Centre with just 20 children, the club has grown to a membership of more than 700, and is now the largest in the West Midlands. A group of four girls are currently training there at county level, and the club also has a Development Squad of 18 gymnasts, whose higher skill levels are focused on future competition at national level. Jayne Fallows, Manager of Leek United’s Uttoxeter Branch, said: “Uttoxeter Gym Club has given so many local youngsters the opportunity to try and enjoy gymnastics over the years – it’s a brilliant community facility, and we’re delighted to give it our support.” |
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Local hospices get the vote of Society members |
Date: 19/6/2009 |
| LEEK United members have once again cast their vote to give a financial boost to two North Staffords... | |
Local hospices get the vote of Society members |
Date: 19/6/2009 |
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LEEK United members have once again cast their vote to give a financial boost to two North Staffordshire-based hospices. For the 6th year in succession, the Society pledged to make a donation to charity for every vote cast and each completed member questionnaire at its Annual General Meeting, held in April. That money has now been divided equally between the Donna Louise Children's Hospice Trust* and the Douglas Macmillan Hospice**, both based in Stoke-on-Trent. Leek United's Chief Executive, Kevin Wilson, presented cheques for £827 at the two hospices on Friday, 5 June. The Donna Louise Children's Hospice Trust is a past recipient of charity funding from the Society. The Trentham-based hospice and its community nursing services have annual running costs of £2 million, of which around 85 per cent comes from donations and fund-raising. Fund-raising Manager Sylvia Pearl said: 'We are very grateful to Leek United and its members for their continued support. The money they’ve given will go directly towards helping us to carry on providing respite and end-of-life care for children from Staffordshire and South Cheshire.” It is the fourth year in succession that the 'Dougie Mac' has benefited from the Society's AGM fund-raising; the latest sum takes the total donated to the Blurton hospice to almost £5,000. Peter Keller, from the hospice's fund-raising department, said: 'We need in excess of £7 million each year – or £20,000 a day – to maintain all our services, caring for around 1,700 patients annually. Leek United and its members have been extremely supportive over a number of years, and we are again grateful for their continued help.' Mr Wilson added: 'Both of these excellent organisations provide an invaluable service within our local community and on behalf of the members, Leek United is delighted to maintain its long standing support.' |
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Society starts First Responders on road to new vehicle |
Date: 20/5/2009 |
| A GROUP providing life-saving medical aid for rural communities in Staffordshire is well on the road... | |
Society starts First Responders on road to new vehicle |
Date: 20/5/2009 |
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A GROUP providing life-saving medical aid for rural communities in Staffordshire is well on the road to a new vehicle – thanks to Leek United. The Society’s Uttoxeter branch has raised £8,000 to start the Dove Valley First Responders’ campaign to buy replacement transport for their emergency call-outs. Formed in 2006, the group covers Uttoxeter, Denstone, Rocester and surrounding villages. Because they are based at the heart of the community they serve, they can often reach the scene of local medical emergencies ahead of ambulance crews. And it’s that vital extra time, coupled with the Responders’ expert medical training, that can dramatically increase a person’s chances of recovery. “We bought our present vehicle from new when we first started out, but the wear and tear of getting to around 40 incidents a month at high speed has really taken its toll, so we need to think very seriously about a replacement,” said Anthony Coates, Co-ordinator for the Dove Valley First Responders. “The cost of a new vehicle will be around £30,000, including kitting it out with lights and equipment, and that’s a big task for a completely self-funded group such as ours. “We rely very much on the goodwill of the public, and we’re very fortunate that a lot of people do think about us when it comes to fund-raising.The donation from Leek United is a fantastic start to our campaign, for which we’re very grateful.” Staffordshire’s First Responders groups have been the nominated charity at Leek United’s Uttoxeter branch in Market Place since 2000, when a special account was set up there. Any monies raised by staff and donations from customers are regularly added to the account, and have provided a number of cash boosts for the Dove Valley group and their colleagues in neighbouring areas, including an emergency vehicle driving course for Anthony and a fellow team member last year. Branch Manager Jayne Fallows said: “We would like to say a big thank-you to everyone who has donated and helped us to make such a success of raising money for a charity so close to all our hearts and to whom so many of us owe sincere thanks.” |
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Get on the 'Escalator' - and watch your money climb..... |
Date: 15/5/2009 |
| LEEK United this week (w/b 18 May) launches a new bond guaranteed to attract the interest of recessi... | |
Get on the 'Escalator' - and watch your money climb..... |
Date: 15/5/2009 |
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LEEK United this week (w/b 18 May) launches a new bond guaranteed to attract the interest of recession-hit savers...with three years of RISING rates. The Society’s new limited edition ‘Escalator’ Savings Bond is a fixed term savings account offering investors highly competitive fixed rates of interest that will climb in years two and three. Opening at 3.00% gross/AER (2.40% net) for the first year, annual interest on the bond rises to 3.50% gross/AER (2.80% net) in the second year, and 4.00% gross/AER (3.20% net) in the third – guaranteed! A monthly interest option is available. “At a time when savers have been hit particularly hard by falling interest rates, our Escalator Bond is an exciting opportunity for customers to save for a longer period, secure in the knowledge that their money really will grow,” said Leek United’s Head of Savings and IT, Steve Boulton. “We have never tried to tempt investors with unsustainable rates which are reduced after a short period of time – we ensure that our products are solid and reliable, backed by rates that are competitive and consistent,” added Steve. You can get on the ‘Escalator’ with a minimum investment of just £1,000. To find out more about Leek United’s Escalator Bond, simply call in at any branch, phone 0800 093 0002, email savings@leekunited.co.uk or log on to www.leekunited.co.uk. As a mutual building society, Leek United has been looking after the financial interests of customers since 1862, and has branches in Staffordshire, Cheshire, Derbyshire and Shropshire. |
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